Economics 101 – Interesting times By William Bowles

24 October 2008

‘May you live in interesting times’, traditional Chinese curse

Being raised in a family of Reds has its pluses and its minuses, one of the minuses being a decidedly unworldly approach to economics. It was as if we already lived in a socialist world but of course nobody else did. The upshot of this was a total incomprehension as to the value of money, and not merely the value but its importance.

This must sound strange coming from someone who professes to know the ‘answers’ to what ails us but then life is complicated, people are contradictory and we don’t always do what’s in our own best interests, besieged as we are by the forces of capital. For alongside this there is always the question of fear and insecurity about the future, about who we are and what we should be.

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