The Real News Network: Economics for the 99%
Latest: Guilt & Debt: How I learned to love it

Compass: Direction for the Democratic Left
Latest: Mr Osborne & the UK dead weight fiscla equilibrium

Social Europe Journal
Latest: A Year to Remember: 1933 brings the New Deal

Other Articles
Latest: Capital flight from Africa
(Concerned African Scholars), Policies for the Italian Left

Research papers
Latest: Devaluation & the Argentine Peso, Economic impact of capital flight from the sub-Sahara


Capital, Exploitation and Economic Crisis [coming soon in paperback]
The Irreconcilable Inconsistencies of Neoclassical Macroeconomics:
False Paradigm [Now published: find it here]


   When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals. We shall be able to rid ourselves of many of the pseudo-moral principles which have hag-ridden us for two hundred years, by which we have exalted some of the most distasteful of human qualities into the position of the highest virtues. We shall…dare to assess the money-motive at its true value. The love of money as a possession…will be recognised for what it is, a somewhat disgusting morbidity, one of those semi-criminal, semi-pathological propensities which one hands over with a shudder to the specialists in mental disease ...[J M Keynes, ‘The Future’, Essays in Persuasion 1931]

Unhappy events…have retaught us two simple truths about the liberty of a democratic people. The first truth is that the liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it comes stronger than their democratic state itself. That, in its essence, is fascism - ownership of government by an individual, by a group. [Franklin D Roosevelt, message to the US Congress 1938]

In a system of production, where the entire continuity of the reproduction  process rests upon credit, a crisis must obviously occur — a tremendous rush for means of payment — when credit suddenly ceases and only cash payments have validity.   [Karl Marx, Capital III, p 490]   


John Weeks
Professor Emeritus
& Senior Researcher
Centre for Development Policy
& Research and Research on Money & Finance Group
School of Oriental & African Studies
University of London


Publications & Activities


Economic Theory


Political economy


Other policy reports


Copyright © 2008 John Weeks