A non-partisan journal of the left.

Search London Progressive Journal

  • Enter text and click Search. This search does not accept exact strings with " or '. For exact searching click 'Exact Search'.
  • or

The Leveraged Buyout of America

In a letter to Federal Reserve Chairman Ben Bernanke, US Representative Alan Grayson and three co-signers expressed concern about the expansion of large banks into what have traditionally been non-financial commercial spheres... [read more]

Nations Get what their Financial-Industrial Systems Deliver: A Comparative Analysis of Three Different Groups of Financial-Industrial Systems

George Tait Edwards compares three different financial-industrial systems and considers the merits of each model... [read more]

With this attack on community energy the big six win out over 'big society'

By changing the rules, this government has sabotaged the promise of a UK community energy revolution and secured the dominance of the big six energy companies, writes George Monbiot.... [read more]

An economy ruled by the mob

It is not easy for any of us to get our heads around the complexities of modern economics. Many capitalists themselves and certainly most politicians no longer understand how the system really works... [read more]

The Western Corporate Giants Supporting Burmese Tyranny

Johnny Chatterton on the big Western companies making a killing from Burmese state repression.... [read more]

The Different Sources of Unemployment, and the Economic Remedy for Each of These

Unemployment is a complex phenomenon. The ultimate roots of all large-scale unemployment is the lack of an adequate economic understanding by a country’s professional economic advisors and its politicians... [read more]

Why Is the Fed Paying So Much Interest to Banks?

When “Mary Poppins” was made into a movie in 1964, Mr. Banks’ advice to his son was sound. The banks were then paying more than 5% interest on deposits, enough to double young Michael’s investment every 14 years.... [read more]

Tulsi Gabbard Comes to San Francisco

“I'm running for president to be able to bring about this sea change in our foreign policy that is so necessary for us and for the world.”... [read more]

Blackstone, BlackRock or a Public Bank? Putting California’s Funds to Work

California has over $700 billion parked in private banks earning minimal interest, private equity funds that contributed to the affordable housing crisis, or shadow banks of the sort that caused the banking collapse of 2008.... [read more]

Why Donald Trump Is Right To Look East

The investment potential of the Russian economy offers good reasons why it is time for the West to take a more positive attitude towards the country. The President-elect might be doing everyone a favour in the long run, David Morgan argues.... [read more]

Time for the Nuclear Option: Raining Money on Main Street

Predictions are that we will soon be seeing the “nuclear option” — central bank-created money injected directly into the real economy... [read more]

Quantitative Easing for People: The UK Labour Frontrunner's Controversial Proposal

British MP Jeremy Corbyn has proposed a “People’s QE” that has critics crying hyperinflation and supporters saying it’s about time... [read more]

Trumping the Federal Debt Without Playing the Default Card

The government can reduce the debt by buying it – and ripping it up... [read more]

So you want to help Africa Owen Paterson? Then stop promoting ideology and falsehoods to push GMOs

Former UK Environment Minister Owen Paterson this week accused the European Union and Greenpeace of condemning people in the developing world to death by refusing to accept genetically modified crops... [read more]

The myths about Marxism

The past two decades have witnessed a barrage of propaganda against Marxism and its revolutionary heritage from the mainstream media... [read more]

Spend Now, Pay Later?

Climate change is happening, all over the world, not just in certain locations... [read more]

Now you can vote for the next EC President

On Wednesday 6 November a very significant event took place in Brussels. Martin Schulz was confirmed as the Party of European Socialists candidate designate for the European Commission President. So how does this impact on you? The answer is in a very big way, writes David Eade.... [read more]

FDR’s American Economic Miracle 1938-44, or the First Economic Bomb - The USA from 1938 to 1944 (Part 1)

George Tait Edwards reveals the secret of America's economic boom during the the FDR years ... [read more]

The End of Money

It’s Time to End Our Slavery to the Money-System declares Oliver Thompson ... [read more]

If you think we're done with neoliberalism, think again

The global application of a fraudulent economic theory brought the west to its knees. Yet for those in power, it offers riches, writes George Monbiot.... [read more]

The development of the European social models

The 19th century in Europe saw the development of philosophical, political and economical theories that challenged and questioned the political structure of the time (Part 1).... [read more]

The circulating money supply: Why QE3 won’t jumpstart the Economy—and What Would

The economy could use a good dose of “aggregate demand”—new spending money in the pockets of consumers — but QE3 won’t do it. Neither will it trigger the dreaded hyperinflation. In fact, it won’t do much at all. There are better alternatives, argues Ellen Brown.... [read more]

Venezuela Halts Mining in Forest Preserve, but Renews Permit Discussions

James Suggett on the ongoing struggle for control of Venezuela's natural resources.... [read more]

The Fed Protects Gamblers at the Expense of the Economy

Although the repo market is little known to most people, it is a $1-trillion-a-day credit machine, in which not just banks but hedge funds and other “shadow banks” borrow to finance their trades... [read more]

38 Reasons to Cancel the “Kosova e Re” Power Plant

On 20 December 2017, then Minister of Economic Development Valdrin Lluka signed an agreement with ContourGlobal, an American company, to build “Kosova e Re”, a 500 MW coal-fired power plan... [read more]

The Key to a Sustainable Economy Is 5,000 Years Old

We are again reaching the point in the business cycle known as “peak debt,” when debts have compounded to the point that their cumulative total cannot be paid... [read more]

The Secret to Funding a Green New Deal

As alarm bells sound over the advancing destruction of the environment, a variety of Green New Deal proposals have appeared in the U.S. and Europe... [read more]

The Venezuela Myth Keeping Us From Transforming Our Economy

Modern Monetary Theory (MMT) is getting significant media attention these days, after Rep. Alexandria Ocasio-Cortez said in an interview that it should “be a larger part of our conversation” when it comes to funding the “Green New Deal.... [read more]

The Financial Secret Behind Germany’s Green Energy Revolution

Funding through the Federal Reserve may be controversial, but establishing a national public infrastructure and development bank should be a no-brainer.... [read more]

ABC

Regular readers of outRageous! know at this time of the year, as well as keeping up with T.V. holiday viewing, I hide and hibernate to fulfil my duty as one of several thousands of official voters for the annual BAFTA awards... [read more]

The Bayer-Monsanto Merger Is Bad News for the Planet

Bayer and Monsanto have a long history of collusion to poison the ecosystem for profit. The Trump administration should veto their merger not just to protect competitors but to ensure human and planetary survival.... [read more]

Class Before Nation : Reject the SNP Budget and Prepare for the Battle Against Scottish Austerity

On December 14 the Scottish National Party (SNP) Finance Minister, Derek Mackay presented to the Scottish Parliament the Scottish Government’s budget for 2018-19.... [read more]

Tory austerity has killed more people than ISIS: Austerity as State-terrorism

Islamic State is frequently referred to as the biggest threat facing Britons. But an even bigger one, in terms of death and social division, is austerity... [read more]

From Myanmar, to Whitehall, to Washington - The Festering Nadir of Politics

It seems politics has hit a shameful, stinking, festering, inhuman low. Given the lows of the last decades, that is really saying something. ... [read more]

1945

1945 is a sacred year in Labour mythology... [read more]

Saving Illinois: Getting More Bang for the State’s Bucks

Illinois is teetering on bankruptcy and other states are not far behind, largely due to unfunded pension liabilities; but there are solutions.... [read more]

If China Can Fund infrastructure with Its Own Credit, So Can We

While American politicians debate endlessly over how to finance the needed fixes and which ones to implement, the Chinese have managed to fund massive infrastructure projects all across their country, including 12,000 miles of high-speed rail built just in the last decade... [read more]

On the Road of Damascus, I Met Jeremy Corbyn

I come from a fairly long line of mercantile family forebears with strong business skills and profit inspired attitudes. Although I chose not to go into business as my brothers did and I became a teacher of English, every emotional nerve in my body believed in wealth creation as being the only way forward for all.... [read more]

Funding California Schools: Proposition 51 Versus a State-owned Bank

There is a much cheaper way to fund this $9 billion school debt... [read more]

Can Jill Carry Bernie’s Baton?

Bernie Sanders supporters are flocking to Jill Stein, the presumptive Green Party presidential candidate... [read more]

Jeremy Corbyn, Labour’s Unelectable Leader

The strident anti-Corbyn headlines are endless. Almost every day a new headline drums the message home: Jeremy Corbyn must go... [read more]

In the Panama Capers we Trust

The leaked Panama Papers, from the Panamanian law firm Mossack Fonseca & Co, are spilling the beans on the details of what the rich, powerful and greedy get up to with unseemly amounts of dosh... [read more]

Building the Fight against Austerity

It has been a depressing few weeks for the supporters of the Labour Party’s new leader Jeremy Corbyn... [read more]

The left wing case for quitting the EU

Much of the left would agree that the European Union does not always function in the best interests of either the European or International working class... [read more]

Grexit or Jubilee? How Greek Debt Can Be Annulled

The crushing Greek debt could be canceled the way it was made – by sleight of hand... [read more]

Derailing Amtrak

Tracking the Latest Disaster in the Infrastructure Crisis... [read more]

The Impunity Enjoyed by the Banks must Stop

The final part of the series by Eric Toussaint - The Banks and the “Too Big to Jail” Doctrine... [read more]

Is Russia a Kleptocracy?

Many anti-Russian commentators today have no problem with classifying Vladimir Putin's government as kleptocratic... [read more]

The Casino Republic

Money plays an ever-increasing role in politics. Election propaganda is made on television, which is very expensive... [read more]

Iraq’s Children: Ever Expendable - From Madeleine Albright to “Save the Children.”

By 2010, seven years in to an unending war, over a quarter of Iraqi children suffered from Post Traumatic Stress disorder... [read more]

Dehumanisation in war

The murder of Baha Mousa springs to mind as a line in the sand where we may have publicly turned a corner for soldiers being exposed for abusing innocent civilians... [read more]

Ah, If I Were 25

Recently, Haaretz columnist Ari Shavit has written an article in which he equally condemns “extreme rightists” and “extreme leftists”, those who advocate war and those who advocate peace... [read more]

Acquiescing to Big Biotech: The Deceptions and Falsehoods of the GMO Lobby

British Environment Secretary Owen Paterson is a staunch supporter of the GMO sector despite mounting evidence pointing to the deleterious health, social, ecological and environmental impacts of GMOs... [read more]

Bank Created Credit

Former MP and member of the Labour shadow cabinet, Bryan Gould, explains how orthodox monetary policy is fundamentally misconceived... [read more]

What can we do with what Thomas Piketty teaches us about capital in the twenty-first century? (Part 2 of 2)

Part 2 of Eric Toussaint's review of Thomas Piketty book Capital in the Twenty-First Century... [read more]

The Disenchantment Of British Voters With Democracy

Former MP and member of the Labour shadow cabinet, Bryan Gould, explains the need for politicians to restore public faith in the value of government and democracy in order to cure voter disaffection ... [read more]

The Many Major Uses of Investment Credit Creation: A brief walk through the observed results so far, and the future possibilities made available through Shimomuran Economics

Money is the measure of all things and personal wealth sets the boundaries of what the individual and his or her family can afford... [read more]

Western Economic Decline Exists Because Western Economists And Politicians Have Ignored Shimomuran Economics. How Long Will the West lag behind?

The second most important economist of the 20th century (after John Maynard Keynes) was Dr Osamu Shimomura, the “Father of the Japanese Economic Miracle” ... [read more]

Self-Boycott

Can a country boycott itself? That may sound like a silly question. It is not.... [read more]

The Banks, Fragile Giants

Part 5 of Eric Toussaint's series Banks versus the People: the Underside of a Rigged Game shows that big banks continue playing with fire, because they are persuaded that governments will save them whenever necessary... [read more]

Malala's ordeal

Dr Lal Khan explains how the Western media conveniently suppresses aspects of Malala Yousafzai's background so that Pakistani youth and workers remain oblivious of this brave girl’s struggle... [read more]

A Brief Guide To Early Chinese History: The Mongol Conquest Of China And Its Consequences

George Tait Edwards introduces the next in a series of articles about early Chinese civilisation to help put into context the country's recent economic rise... [read more]

Currently Mistaken Ideas in Western Economics and Their Suggested Corrections (preferably soon) Part 2

Economist George Tait Edwards straightens out some of the economic myths taught at Western universities (Part 2 of 2)... [read more]

Treasure hunt in Wendish Lusatia

Tomaš Kappa tells a story about Germany’s biggest secret and a scandal, its treatment of the Sorbian people ... [read more]

The Origin of Shimomura’s Japanese Economic Miracle, or the Second Economic Bomb - Japan from 1946 to 1965 (Economic miracles Part 2)

Japan was the first Asian country to demonstrate how a self-confident culture, with adequate leadership, could rapidly adopt Western industrial technologies while preserving the integrity of their domestic cultural legacy... [read more]

CCS sidelined by tenuous financing

Energy Consultant, Jeffrey Michel, discusses the problems with using CCS technology to reduce global warming... [read more]

The Four Keynesian Cornerstones of Shimomuran Economics (or Investment Credit Economics)

In the General Theory Keynes made four key comments that presage the practice of Shimomuran investment credit economics writes George Tait Edwards... [read more]

Why Radical Islam is Growing and How to Deal with It

After the 9/11 tragedy there has been a surge in the radical Islamist movement writes Ola Onikoyi... [read more]

The Self-Hating State

Devolving policy to “the market” doesn’t solve the problem of power. It makes it worse, writes George Monbiot.... [read more]

Money for the People: Grillo's Populist Plan for Italy

Comedian Beppe Grillo was surprised himself when his Five Star Movement got 8.7 million votes in the Italian general election of February 24-25th... [read more]

If markets weren't masters and economics worked for people

The choice on the one hand is for people to be a resource for a rich economy. The choice on the other is for a rich economy to be a resource for society. Alfie Stirling explains... [read more]

Not just a pretty Face(Book)

Google has a rival. Mirage discusses the rise of the social media application Facebook as it lays down the gauntlet... [read more]

The Global Economic Crisis and ‘Possible Futures’

David Lane reviews a collection of three volumes compiled by Craig Calhoun and Georgi Derluguian chronicling the origins and aftermath of the global financial crisis... [read more]

The Radical Alternative to Austerity

A message to all readers from Labour MP John McDonnell...... [read more]

University fees and a recession?

Sam Hunt says whenever he says that he doesn't believe in the recession, he feels like some sort of conspiracy theorist, yet considering the vast scope of our economy even at a base level it makes him too sceptical to believe that the recession is anywhere near as large as it is made out to be, if not completely non-existent. One such example is the revenue that universities generate.... [read more]

Noncommittal for kindle or less than kind?

The Kindle - an infinity of reading or a bibliophile's nightmare? Stephen Gilbert shares his thoughts on the matter.... [read more]

How Independen​t Would An Independen​t Scotland Be?

Britain’s history of war and imperialism, and its current role as junior partner in service to US hegemony, has had a deleterious impact on British society at home, writes John Wight.... [read more]

The Great Pay Robbery

Here’s why the government’s proposals on executive pay won’t work – and why we need a maximum wage, says George Monbiot.... [read more]

An outRageous! essay on The Arts, Education and The People.

This rant is aimed at your crassness, Cameron. It goes to the heart of what is art, and why it's so important in preparing people for democracy, says outRageous!... [read more]

Economic democracy – The next big social reform?

Peter Tatchell says democratising economic decision-making is the key to a fairer society and a more stable economy... [read more]

Why Miliband and Balls have got it wrong

The capitulation by Labour to the austerity and cuts agenda of the Tories and the right-wing press has been confirmed by shadow chancellor Ed Balls' statement that Labour would not be able to reverse the Tory cuts and would maintain the pay freeze within the public sector if they come to power at the next election, says John Wight.... [read more]

What a £ot of Balls!

outRageous! thinks sports have gone Doo-£ally!... [read more]

How Should We Invest? A Juxtaposition of War and Welfare

The coalition insists we need to cut the deficit. Fine - but that doesn't have to mean destroying the welfare state, argues Joseph Daniels.... [read more]

Thatcher and the Last Tory cuts

Eric Hollies puts today's coalition government in historical perspective by looking back on the brutal public spending cuts imposed by the Thatcher government.... [read more]

BP’s Dumb Investors

The companies now threatening to sue BP have only themselves to blame, writes George Monbiot.... [read more]

Money’s Hunger

Industrial civilisation is trashing the environment. George Monbiot asks: should we try to reform it or just watch it go down? ... [read more]

The Greek Crisis and the Threat to the Euro

Can the EU afford to let Greece withdraw from the Eurozone? Socialist Appeal's Mick Brooks considers the significance of the Grek Crisis.... [read more]

The Kangaroo

A year into his presidency, Barack Obama has achieved relatively little in the foreign policy sphere. Uri Avnery urges him to keep trying.... [read more]

“…And A Little Child Shall Lead Them”

Barack Obama has weakly capitulated to Binyamin Netanyahu over Israeli settlement-building in the heart of the Arab community in East Jerusalem, says Uri Avnery.... [read more]

Bank Bailouts - Throwing Good Money After Bad

As the UK government plans further massive bank bailouts, Mick Brooks calls for the complete nationalisation of the banking industry.... [read more]

Welcome to Austerity Britain

Whoever wins the next election, 'austerity' - i.e. cutting back services for those who need them most - will be the watchword of British politics for the next few years, as Rob Sewell explains.... [read more]

No Emergency Summits for Arab Human Development Crisis

Ramzy Baroud calls on Arab governments to do more to provide for their peoples' basic educational needs.... [read more]

Venezuela and Russia Create Bi-National Bank

James Suggett on a bold initiative aimed at facilitating a more 'multipolar' world economy.... [read more]

Green Shoots of Economic Recovery?

Mick Brooks considers recent claims that the world economic system is on the mend.... [read more]

Cross Your Fingers and Carry On

George Monbiot asks: Why does the UK government refuse to make contingency plans for peak oil? ... [read more]

South American Nations Meet in Venezuela to Lay Foundation for Bank of the South

James Suggett on a ground-breaking initiative that may help Latin American countries break free from the stranglehold of IMF and World Bank economics.... [read more]

Changing the Face of Bolivia

Jeremy Corbyn examines the dilemmas facing the progressive government of Evo Morales in Bolivia.... [read more]

The Great Depression

Michael Roberts argues that the big "bailouts" of financial institutions have exposed the fallacy behind the "free market" ideologies which have dominated British and American political and economic systems for the past thirty years.... [read more]

Benefit Claimants in Government's Firing Line

Fred McDowell on New Labour's latest populist diversion.... [read more]

The Recession is the Government's Opportunity to Act on its Green Promises

Luke Aldred argues the current economic crisis represents a perfect opportunity for the British government to implement far-reaching changes to make Britain greener and more sustainable.... [read more]

Working Time – Britain’s Opt-out to End?

Fred McDowell on an EU-led initiative to end British workers' "right" to opt out of the 48-hour maximum limit on the working week.... [read more]

Interview: Michael Albert on the Communal Councils in Venezuela

Michael Albert is a prominent activist and economist and a co-founder of Z Magazine. Adam Gill spoke to him about the Venezuelan government's radical "Consejos Comunales" initiative, aimed at deepening participatory democracy.... [read more]

World Capitalism Looks Into the Abyss

Socialist Appeal's Terry McPartlan on how the present economic crisis could enhance class consciousnous and provide the impetus for far-reaching social change.... [read more]

Financial Meltdown Deepens

In the wake of the collapse of Lehman Brothers, Michael Roberts examines the present financial slump. ... [read more]

The Credit Cruch - One Year On

Twelve months on from the beginning of the current economic crisis, Socialist Appeal's Michael Roberts examines the causes and effects of the so-called "Credit Crunch".... [read more]

London Court Rules in Favour of Venezuela in Dispute with Exxon

James Suggett on a courtroom victory for Venezuela against big business. ... [read more]

How To Solve A Problem Like Auschwitz

The British government plans to educate children about the horrors of mass murder by sending them to visit the Auschwitz death camps.... [read more]

Nigeria: Corruption Pays

Ian Broughton compares the situation in Kenya with recent history in Nigeria.... [read more]