One of capitalism’s oldest myths is that of the efficiency of the so-called ‘free-market’ and its superiority to a socialist planned economy. Defending economic planning, this talk responds to the libertarian ideas of the Austrian School of economics, whose ‘theories’ amount to vitriolic support of the unrestricted rule of capital at the expense of the needs of society.
Britain’s youth unemployment crisis has been back in the headlines this week, following the release of a report which found that one in six young people will soon be out of employment, education, and training. Capitalism is scrapping our futures.
Starmer’s failing premiership and the threat of a leadership contest have sent the bond markets into a frenzy. Recent events, as well as comments from investors, have revealed who really pulls the strings under our ‘democracy’: the bankers and bosses.
The rampant speculation and insider trading on platforms like Polymarket has exposed the unrestrained parasitism of the Epstein class. But prediction markets are nothing new: swindling and corruption have always been baked into capitalism.