A very radical approach indeed

The Pluto Press Blog - Independent, radical publishing

Derek Wall, whose new book Economics After Capitalism is out this month, places his analysis in context.

‘In 1845, local members of the Conservative Party selected George Hudson as their parliamentary Wall EACcandidate. They wanted support for two failing infrastructure projects – the Monkwearmouth Dock and the Durham and Sunderland Railway.  Hudson, also known as ‘The Railway King’, was duly elected MP for Sunderland. His financial wizardry had been used to build a rail line between the North East and London, a kind of HS2 of its day.  Hudson’s fall from grace however was swift. All seemed above-board – his rail projects paid generous dividends to shareholders and as a result he raised huge amounts of money for infrastructure projects.  However, a pamphlet entitled The Bubble of the Age claimed that instead of the dividends being derived from profit, they came from capital.  Hudson was essentially running what is now known as…

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About Seba Roux

Gooner, Socialist, Historian, Slacker. That's pretty much all you need to know.
This entry was posted in Philosophy, Politics, Protest and tagged , , , . Bookmark the permalink.

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