You think politicians don't matter? She knows better: Oxfam report attacks the West's unbending and self-serving approach to Third World debt

Article Abstract:

The International Monetary Fund and the leaders of some Group of Seven industrial countries are misguided in attempting to prevent reductions in the payments which rich countries demand from some of the poorest countries in the world, according to aid charity Oxfam. The UK has made considerable efforts to cut debt burdens on developing countries, but the US, Germany and Japan have taken a very negative approach to financial relief, even for countries which have undertaken positive financial reform.

Reports, External debt relief, Debt relief, Oxfam

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Mainstream economics needs to get a firm grip on reality

Article Abstract:

Mainstream economics fails to understand the nature of reality correctly and uses inappropriate methods to explore reality, according to economist Tony Lawson. Defining individuals or companies as 'rational agents,' for example, does not allow economists to account for differences in behaviour between men and women or between employers and employees. Mainstream economics is also unable to account for the fact that many people's economic choices are based on their social positions.

Column, Practice, Economics

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