Privatising Profits, Socialising Losses

31st December 2008 Tony Phillips 1

The rapid fallout from less than a decade of financial speculation has been mind-boggling. Barely legal, the unregulated bubble in “credit derivatives”2 grew from $1 trillion in 2003 to $15 trillion in 20073 to finally burst, leaving the global financial system on life support in the public ward.

British Gas in Bolivia

The Economics of Trust

4th June 2005 Tony Phillips 0

Trust seems like an old fashioned word these days but when it comes to government and economy a working level of trust is essential. Not everyone can be an economist or the overseer of operations on an international gas pipeline. […]