WATCHING THE RIVER FLOW
Nov 23rd, 2011 by Conor McCabe
much of the trouble has been caused by speculators seeking profit, who should be distinguished from investors seeking safety for their capital. All the gold currencies have suffered from their operations, though, of course, they only become dangerous when they are given an opening by unbalanced budgets, economic strains, political unrest or other conditions which threaten, or seem to threaten, stability. They lose their power for mischief when confidence is restored. (”Gold Currency Troubles” Irish Times, 25 July 1935)
Every generation believes that it was the first to invent sex. The phrase ‘neo-liberalism’ reminds me of that - the premise seems to be that this generation of capitalists were the first to invent financial speculation and attacks on welfare.
