“The left should opt for an eco-fiscal policy, designed to dismantle rentier capitalism. It should accept that high progressive income tax is out of date. It should make clear that income and consumption taxes are mainly for public services and infrastructure, including transport, defence, housing, schools and other social needs. Beyond that, the aim should be to restructure fiscal policy as a means of common justice.”
International
Sceptical Scot shuts up shop
The co-editors announce the closure of Sceptical Scot on its seventh anniversary….
A letter on Ukraine from Berlin Hbf
‘The current conflict seems one from an anachronous, imperial past. There is little to separate a Ukrainian and a Russian – this is not an ethnic conflict but one over territory.’
Why ejecting Russia from Swift is largely symbolic
‘It is conceivable that all this could lead to a rapid collapse of the Putin autocracy, but we should not engage in wishful thinking. Wide-ranging economic sanctions on Russia may be needed for a lengthy period of time. Ejection from Swift is a symbol of these efforts, not a powerful economic tool that can constrain Russia’s actions in Ukraine at little cost to ourselves.’
A crisis made in the USA: why Russia will likely invade Ukraine
“The current crisis is made in the USA, but the US can still defuse it by stepping back and agreeing to a demilitarized zone in Eastern Europe. However, that is unlikely to happen as it would contradict Neocon doctrine and go against the character and history of the country. President Biden would also be further politically damaged. In effect, he too has been boxed in by the Neocon operatives in the State Department, the Pentagon, and his own National Security Council.”
Why is inflation at its highest for decades?
As UK inflation hits a 10-year high of 5.1%, a leading Scottish economist asks why global prices are rising so fast – and what central banks must now do.
COP26 and Africa’s development needs
“Are we in the developed world prepared to accept that it would be fair for Africa’s C02 emissions to rise even as ours fall? Or are we prepared to fund a transfer of resources to enable solar, tidal, wind and so on, to supply their needs? At the end of COP26, more money was promised – but it fell far short of what African negotiators wanted.”
Jobs and a just transition can deliver climate ambition
“Governments should work with unions and employers to ensure green jobs: offer good wages, benefits and job security;
provide better training and advancement opportunities;
give workers the right to organise, and are safe and accessible to all.”
Biden and America First
It is hard to see how Biden can emerge from this disaster without his credibility shredded, but the greater loss is to the credibility of the United States, which increasingly appears a fading power internationally (as well as a failing state at home).
What do those Catalan pardons mean?
“A move from unilateralism to deliberation suggests negotiation. So, if last week’s pardons counts as a concession by the Spanish executive, what will the Generalitat have to concede in return?” asks a Barcelona-based commentator of the pardon of nine leading Catalan politicians.