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 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]

Shimomuran Economics: The No-Debt Investment Credit Creation Path to More Rapid Economic Growth

George Tait Edwards MBE makes the case for the urgent implementation of Keynesian economics to stimulate growth, based on the economic model's previous success in the US, China and Japan... [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]

Currently Mistaken Ideas in Western Economics and Their Suggested Corrections (preferably soon) Part 1

Economist George Tait Edwards straightens out some of the economic myths taught at Western universities (Part 1 of 2) ... [read more]

The Italian crisis and the wait for Godot

A crisis is a crucial point, a turning point, a situation that demands change or reaction in order to resolve the situation... [read more]

The ‘MENA’ region and the International Monetary Fund

Daniel Robicheau describes the lead up to the war in Syria and the involvement of the IMF... [read more]

"Stop the Arms Trade Week" Comes to London

CAAT will hold its annual event in Islington this week, to draw attention to the murderous multi-million pound arms trade.... [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]

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]

Observations and Impressions from Russia

For over two weeks this May, a delegation of 30 Americans visited seven regions and ten cities across Russia... [read more]

Bank of North Dakota Soars Despite Oil Bust: A Blueprint for California?

Despite North Dakota's collapsing oil market, its state-owned bank continues to report record profits. This article looks at what California, with fifty times North Dakota's population, could do following that state's lead... [read more]

Update On Shimomuran Economics: The Day May Come

Western governments and their advisors can no longer continue to ignore the work of the master economist Dr Osamu Shimomura (1910-1989) who provided the insights which have produced the high growth of the China Sea economic zone... [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 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]

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]

Nuclear power, the energy of protest: The future could be renewable

With proper commitment and investment in renewable energy and a push towards an alternative model of development, the future need not resemble the past or indeed the increasingly catastrophic present, writes Colin Todhunter. ... [read more]

End of Recession is Imminent Says Venezuela’s Planning Minister

Venezuela's Planning and Finance Minister has announced a positive forecast for the country's economy, as James Suggett reports.... [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]

Student Debt Slavery II: Time to Level the Playing Field

The lending business is heavily stacked against student borrowers. Bigger players can borrow for almost nothing, and if their investments don’t work out, they can put their corporate shells through bankruptcy and walk away.... [read more]

Student Debt Slavery: Bankrolling Financiers on the Backs of the Young

Higher education has been financialized, transformed from a public service into a lucrative cash cow for private investors.... [read more]

What a State-Owned Bank Can Do for New Jersey

Having a cheap and ready credit line with the state’s own bank can have similar benefits for New Jersey and other states... [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]

What is to be Done with the Banks? Radical Proposals for Radical Changes

Immediate measures for moving towards socialisation of the banking sector... [read more]

An Anti-Austerity 2015 UK Budget

George Tait Edwards explains how Shimomuran-Wernerian macroeconomics is the best available path to prosperity once the politicians of the West understand the effectiveness of that option... [read more]

Comparison of the Washington, Berlin, and Tokyo Consensus Zones -Which one really works?

George Tait Edwards compares three separate economic systems presently operating around the world... [read more]

Shimomuran Economics is the Most Significant Advance Ever Made in Economic Understanding and the West Still Doesn't Get It

Shimomuran economics is the name I have given to the collection of no-debt, high-growth economic understandings practised in post-war Japan and post-rapprochement China... [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]

Elections in Norway

Patrizia Bertini speaks with Norwegian Labour Party politician Rudolph Brynn about the general election next week... [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]

CCS sidelined by tenuous financing

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

The Alternative 2013 Spending Review, Or What Mr Osborne Could Have Said If He Understood Macro-economics

The Spending Review by George Osborne contained no surprises. But suppose Mr Osborne really understood economics and actually wanted to improve the British economy. George Tait Edwards provides a constructive speech for a competent chancellor... [read more]

How Can We Save the British Economy from Third Rate Status?

Following the decline of the manufacturing sector, in recent years, Dr Jonathan Feldmann discusses ways in which Britain could go about redeveloping its industrial base... [read more]

New beginnings

John Green asks whether we need a mass party to represent the unions and the left and to advance the interests of the entire working class (Part 2)... [read more]

The War on Libya: Behind Appearances - Part 2

An in-depth critique and analysis of the beginnings of the civil war in Libya and what was at stake for all parties involved in the final conflict, split into three parts. (Part 2)... [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]

Australian Administration Puts UK Labour Party in the Shade

Steven Littlewood believes Gordon Brown could learn a thing or two from his Australian counterpart.... [read more]

From Aid Agency to Cash Machine?

Mick Brooks on how overseas aid programmes are merely exacerbating social inequality in developing countries.... [read more]

Obama Moves Quickly to Court Israel Lobby

Barack Obama's recent comments on his Israel-Palestine policy suggest real "change" is definitely not on his Middle East agenda.... [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]

The Cheapest Way to Save the Planet Grows Like a Weed

Planting billions of trees across the world is by far the cheapest and most efficient way to tackle the climate crisis. So states a Guardian article, citing a new analysis published in the journal Science.... [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]

Britain’s Neo-colonial Policies in Oil-rich Nigeria Fuel War and Malnutrition

The controversial re-election of Nigeria’s President Muhammadu Buhari underscores the militarization of the country’s political system and economy... [read more]

This Radical Plan to Fund the ‘Green New Deal’ Just Might Work

With what author and activist Naomi Klein calls “galloping momentum,” the “Green New Deal” promoted by Rep.-elect Alexandria Ocasio-Cortez, D-N.Y., appears to be forging a political pathway for solving all of the ills of society and the planet in one fell swoop... [read more]

How America Can Free Itself From Wall Street

Wall Street owns the country. That was the opening line of a fiery speech that populist leader Mary Ellen Lease delivered around 1890. Franklin Roosevelt said it again in a letter to Colonel House in 1933, and Sen. Dick Durbin was still saying it in 2009. ... [read more]

Central Banks Have Gone Rogue, Putting Us All At Risk

Central bankers are now aggressively playing the stock market. To say they are buying up the planet may be an exaggeration, but they could. They can create money at will, and they have declared their independence from government. They have become rogue players in a game of their own.... [read more]

A Public Bank for Los Angeles? City Council Puts It to the Voters

California legislators exploring the public bank option may be breaking not just from Wall Street but from the Federal Reserve.... [read more]

The German Elections and the Ongoing Crisis of European Imperialism

Angela Merkel, who has been in power for 12 years and who won just 33% of the vote in the elections held on 24 September, failed to negotiate a coalition government that would rule over the German and the European working class for the next four years... [read more]

Despair of Despair

My optimism about the future of Israel irritates a lot of people. How can I be an optimist in view of what's happening here every day?... [read more]

Sovereign Debt Jubilee, Japanese-Style

Japan has found a way to write off nearly half its national debt without creating inflation. We could do that too.... [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]

Fracktured Britain

By downplaying all the issues that adversely affect the environment, the politicos have been mutually assuring our own demise - and theirs!... [read more]

Remain or Brexit: the UK’s referendum on the European Union

The only reason the UK is having a referendum on whether the UK should stay in (Remain) or leave (Brexit) the EU, is because of the difference of opinion within the Conservative Party.... [read more]

A Crisis Worse than ISIS? Bail-Ins Begin

While the mainstream media focus on ISIS extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the US... [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]

Aleppo a city ravaged by “Islamic State” and Imperialism

This is a report from an Aleppo resident whose identity is protected for their own security... [read more]

The Trans-Pacific Partnership and the Death of the Republic

On April 22, 2015, the Senate Finance Committee approved a bill to fast-track the Trans-Pacific Partnership (TPP)... [read more]

How America Became an Oligarchy

According to a new study from Princeton University, American democracy no longer exists... [read more]

Economic Policies for an Incoming Labour Government (Part 8 of 9)

The Community Interest Bank Key to Local SME Development... [read more]

Is Russia a Kleptocracy?

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

Swimming With Sharks: Goldman Sachs, Schools and Capital Appreciation Bonds

Remember when Goldman Sachs – dubbed by Matt Taibbi the Vampire Squid – sold derivatives to Greece so the government could conceal its debt, then bet against that debt, driving it up?... [read more]

Why leaving fossil fuels in the ground is good for everyone

As a new report is published on the need to limit fossil fuel production to stop dangerous global warming, the UK is poised to pass an act committing governments to extracting as much oil out of the ground as possible, writes George Monbiot.... [read more]

Menace on the Menu: Development and the Globalization of Servitude‏ (Part 1)

In his book ‘The World Economy: A Millennial Perspective’, economist Angus Maddison noted that India was the richest country in the world and had controlled a third of global wealth until the 17th century... [read more]

On gloves, rubber and the spatio-temporal logics of global health

Over the last decades and not least through the UN’s Millennium Development Goals, health initiatives have received unprecedented attention and funding... [read more]

Drug and Bank Lords

Part three of the series by Eric Toussaint: The banks and the “too big to jail” doctrine... [read more]

The return of George Orwell and Big Brother’s war on Palestine, Ukraine and the truth

In his latest essay, John Pilger describes the liberal "one-way, legal/moral screen" behind which great power and its Orwellian propaganda ensure an impunity for war and deception, dependent on what Leni Riefenstahl called our "submissive void".... [read more]

The elixir of life – in a poisoned chalice?

Longevity science may divide us into treated and untreated: the first living ever longer, the second dying even younger than now, writes George Monbiot.... [read more]

The Transatlantic Trade and Investment Partnership, A Thatcherite Revolution: “Free Trade”, Corporate Plunder and the War on Working People

Prior to the recent national elections in India, there were calls for a Thatcherite revolution to fast-track the country towards privatisation and neo-liberalism... [read more]

Fast-tracking Neo-liberalism in India

Apparently, the results of the national general election in India mark a turning point. We are told that the nation has spoken and has given the new Prime Minister Narendra Modi and his BJP party a ‘landslide victory’... [read more]

Why Not Create A Scottish Pound and Adopt Investment Credit Economics to Scotland’s Benefit?

On 21 February I sent an email to the Government of Scotland, suggesting it would be an immense advantage to the “Yes” campaign for Scottish independence if the Scots adopted a policy of having their own currency when independent... [read more]

Letter to President Obama

Dear Mr. President, I was sorry to hear that you have been upset by that rogue President Putin... [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]

An Extended Review of "Princes of the Yen" by Professor Richard Werner

George Tait Edwards reviews “Princes of the Yen”, the latest book written by Professor Richard Werner... [read more]

Spend Now, Pay Later?

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

A journey into the vice-ridden world of banking

The primary objective of the world’s leaders is to avoid another banking and financial crash that could be worse than the one in September 2008... [read more]

China’s All-Inclusive Economic Miracle: The Third Economic Bomb

George Tait Edwards explains China's recent economic success by examining its past history... [read more]

Banks versus the People: the Underside of a Rigged Game! (Part 3) - The greatest offensive against European social rights since the Second World War

We should not underestimate the capacity of the elites to make the most of a crisis situation writes Eric Toussaint... [read more]

The Public Debt of Japan and China – Funded by Investment Credit Creation or by Foreign Borrowing?

Economist George Tait Edwards puts paid to rumours of impending financial crises in Japan and China... [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]

Bono can't help Africans by stealing their voice

Because the U2 frontman and others like him are seen as representatives of the poor, the poor are not invited to speak, writes George Monbiot.... [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]

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]

Growth Comes with Jobs, Innovation and Access to Credit

David Eade talks to Parti Socialiste MP Axelle Lemaire about French President François Hollande budget for 2013... [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]

The Great Impostors

Under the guise of saving the natural world, governments are privatising it and rarely will the money to be made by protecting nature match the money to be made by destroying it, writes George Monbiot.... [read more]

CIA and MI5 linked to assassinations in the Congo in sixties

Shortly after progressive Congolese leader Patrice Lumumba was overthrown by a Western backed coup in 1960, the former UN secretary general, Dag Hammarskjöld, died in mysterious circumstances. John Green asks if the two events were in any way connected.... [read more]

A manager's dog

‘I am his Highness’ dog at Kew; Pray, tell me sir, whose dog are you?' ( Alexander Pope, Epigram Engraved on the Collar of a Dog which I gave to his Royal Highness)... [read more]

Militarism mixed with empty liberal rhetoric

Richard Becker dissects Obama's 2012 State of the Union address and shows that the 'CEO of the imperialist ruling class is carrying on with business as usual... [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]

Light and fluid warriors

In the second of her interviews using the 'Lego Serious Play' method, Patrizia Bertini meets Ollie, a young occupier at the OccupyLSX camp... [read more]

The War on Libya: Behind Appearances - Part 1

An in-depth critique and analysis of the beginnings of the civil war in Libya and what was at stake for all parties involved in the final conflict, split into three parts.... [read more]

Slavery for Dummies- Part three

The third and final part of an analysis by OutRageous! looking at the slavery endemic in our modern society. ... [read more]

Blog: Lies Lies Lies

outRageous! - Lies about the recent gunplay in Kabul and the stuff no one wants you to know.... [read more]

The Truth About the Situation in Libya

As Colonel Gaddafi’s regime enters its final days, Brian Becker looks at NATOs involvement in bolstering the rebel movement and the truth behind the so called campaign of ‘humanitarian intervention’ ... [read more]

Leon Panetta in Iraq: More lies, more war

Michael Prysner, reveals how the newly appointed American Secretary of Defence, Leon Panetta, is bringing back Bush-era rhetoric and pushing to extend the occupation of Iraq.... [read more]

Gaddafi, the War on Libya and the Left

Ben Maisky scrutinises Libyan leader Muammar Gaddafi’s Socialist and anti-imperialist credentials and questions whether certain sections of the left are mistaken in their support for Gaddafi.... [read more]

Whitewashing Defeat

For all his poise and rhetoric, Obama’s indecisiveness is the defining feature of his presidency, says Ramzy Baroud.... [read more]

Reformed Venezuelan Bank Law Separates Banks and Media

Tamara Pearson reports on an important Venezuelan initiative to prevent the corporate media from getting directly involved in the banking and finance industries.... [read more]

BP’s Dumb Investors

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

The Real Cost of the Banking Crisis

Mick Brooks reviews the Bank of England's assessment of the banking crisis.... [read more]

Venezuela: US Criticisms of Venezuelan Arms Purchases Lack “Moral Weight”

James Suggett on the uncompromising Venezuelan response to US criticisms of recent arms purchases from Russia.... [read more]

The Great Cop-Out

Impeded by Gordon Brown, the G20 has decided that bankers won’t be properly regulated, as George Monbiot explains.... [read more]

Presidents of Venezuela and Colombia Pledge Peace and Economic Development

James Suggett on an encouraging meeting between Uribe and Chávez.... [read more]

Ethical Investment Campaigning at UCL Pays Off for Students

University College London student Craig Griffiths on how relentless campaigning forced the issue on ethical investment at UCL.... [read more]

Crisis: The Worst Since the 1930s

Michael Roberts argues the present economic slump is merely the first stage of a long-term deflationary depression.... [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]

Free the Unborn! A Proposal for Slowing Down Politics

George Monbiot on why the struggle against climate change is being undermined by political short-termism.... [read more]

Venezuela to Propose Reduced Oil Production at OPEC Meeting

James Suggett on how Venezuela is reacting to the world financial crisis.... [read more]

Millions Spent on Hirst's Vacuous Artworks Reflect The Decadence of 21st Century Capitalism

Laura Hayhurst-France on the artistic and moral decline implicit in the immense commercial success of the artist/businessman Damian Hirst.... [read more]

Venezuela and China Expand Joint Oil and Investment Accords

James Suggett on the strengthening of trade ties between China and Venezuela. ... [read more]

Financial Meltdown Deepens

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

Venezuela Bridges Diplomatic Fissures and Polishes Alliances in European Tour

James Suggett on the latest phase of Hugo Chávez's tour of Europe.... [read more]

Venezuela Increases Oil Financing for Petrocaribe Nations

James Suggett on how Venezuela is taking a lead in strengthening economic links between Latin America and the Caribbean.... [read more]

Ecuador Seizes Banking Firms

Samuele Mazzolini on the bold steps taken by Ecuador's President Correa as he bids to bring financial stability and security to the country.... [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 Western Corporate Giants Supporting Burmese Tyranny

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

Shadow Networks: Violence, War and Plunder in the Great Lakes Region of Africa

Colonial rivalry and capitalist exploitation are at the heart of the violence in the Congo.... [read more]