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Richard Murphy

@richardjmurphy.bsky.social
43K followers 55 following 1.8K posts

Economic justice campaigner. Professor of Accounting Practice, Sheffield University. Former chartered accountant. Political economist. Opinions all my own.

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Richard Murphy @richardjmurphy.bsky.social · 18h
How the AI boom could make you poorer youtu.be/7nDJ23DK_Eo?... You may not use AI, but it's going to cost you dearly, from increasing the price of your mortgage or rent to hiking the price of electricity. AI will not be coming cheap.
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How the AI boom could make you poorer
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 30/09/2026
Does Andy Burnham have no idea what to do? www.taxresearch.org.uk/Blog/2026/09... Why is Andy Burnham only offering action after the next election, which he knows he will lose? Is it because he does not actually know what to do?
taxresearch.org.uk
Has Andy Burnham no idea what to do?
Andy Burnham indisputably proved that he has mastered the art of making a party conference speech yesterday. It has taken him a very long time to do so, but he’s got there. That was the good news of t...
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Richard Murphy @richardjmurphy.bsky.social · 30/09/2026
The UK doesn't need an IMF bailout youtu.be/ZDbZgBiMp_8?... The Financial Times and others are asking if the UK might need to turn to the IMF for a loan - which is absurd, because nothing could be further from the truth.
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The UK doesn't need an IMF bailout
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 29/09/2026
It is time for people of courage to walk away from Labour www.taxresearch.org.uk/Blog/2026/09... They have had their chance. They have blown it. We need a real alternative in this country now. They will never be it again.
taxresearch.org.uk
It is time for people of courage to walk away from Labour
As I say on fiscal rules in the glossary to this blog: Fiscal rules are targets set by governments to limit borrowing, debt, or deficits over time. They are presented as if they are neutral, technical...
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Richard Murphy @richardjmurphy.bsky.social · 29/09/2026
What happens when neoliberalism's only got fear left to sell? I think that point might have arrived. And what we need instead is a different politics. One based on freedom from fear. Shouldn't that be our goal? Life would be very different if it were. youtu.be/C7gCT8rO7OA?...
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What happens when neoliberalism's only got fear left to sell?
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 28/09/2026
Interest rates: what are you really paying for? youtu.be/COPLlwEY2AE?... The idea that anyone has a right to earn interest just because they have more money than they need makes no economic sense. So, what does?
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Interest rates: what are you really paying for?
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 27/09/2026
There is no such thing as taxpayers’ money youtu.be/4AyhV70BDwE?... Anyone who claims the government spends taxpayers' money is talking total nonsense. The problem is that almost all our politicians do.
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There is no such thing as taxpayers’ money
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 26/09/2026
What is a market, and when can markets work? youtu.be/aEE6JfZSgOA?... The left rarely supports markets, but they have a role in any economy - knowing when is the issue, and that's what this video is about.
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What is a market, and when can markets work?
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 25/09/2026
Is the UK's debt bill creating austerity for the poor and interest for the wealthy? And is this the real interest crisis the UK is facing now? youtu.be/CfCCyQezwI8?...
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Is the UK's debt bill creating austerity for the poor and interest for the rich?
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 24/09/2026
Workers really are getting less of the economy youtu.be/gJ8z1o6FBbs?... If you want to understand why people are so angry with an economy that has left them behind, just look at the data.
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Workers really are getting less of the economy
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 23/09/2026
Tax banks more, now! www.taxresearch.org.uk/Blog/2026/09... The City says higher taxes will drive banks away. That might be exactly what Britain needs.
taxresearch.org.uk
Tax banks more, now!
According to a report in the Financial Times this morning: Global banking executives have warned that they will divert investment away from the UK if taxes on the sector are raised, telling Andy Bur...
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Richard Murphy @richardjmurphy.bsky.social · 23/09/2026
The politics of blame is replacing solution-focused politics youtu.be/4YuXncPwuow?... . This is bad politics that answers no questions, demands nothing of politicians, and leaves us all worse off. So why are we falling for it?
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The politics of blame is replacing solution-focused politics
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 22/09/2026
What critics get wrong about MMT - or modern monetary theory youtu.be/mKWfEQlcDoU?... Hating MMT seems to be the one thing that unites neoliberals and some Marxists. But all of them argue with a version of their own creation, not the real thing. Here, I tackle the real issues.
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What critics get wrong about MMT - or modern monetary theory
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 21/09/2026
What is business? For most people, it isn't what they think it is. youtu.be/GXfjEmHto8c?... Business is not about profit, companies or capitalism. It is about people organising themselves to meet needs, and that distinction matters.
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What is business? For most people, it isn't what they think it is.
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 20/09/2026
Who controls your attention? The economics of distraction youtu.be/_xROO94ELcg?... . This matters. Your time may be your scarcest resource - and others are trying to keep it that way at cost to you.
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Who controls your attention? The economics of distraction
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 19/09/2026
The economy is going to get really bad. We need a plan. And John Healey is Chancellor. www.taxresearch.org.uk/Blog/2026/09...
taxresearch.org.uk
The economy is going to get really bad. We need a plan. And John Healey is Chancellor.
Heather Cox Richardson, in her Letter from an AMerican on Substack, which I recommend subscribing to, said over night: According to the American Automobile Association, diesel hit its highest recorded...
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Richard Murphy @richardjmurphy.bsky.social · 19/09/2026
What is work, and why does it matter so much? youtu.be/8B0w6nEtOS8?... The answer has much more to it than money, which may be why economists so often misunderstand the importance of work.
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What is work, and why does it matter so much?
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 18/09/2026
The RNLI: people of courage and commitment to their neighbours, whoever they might be www.taxresearch.org.uk/Blog/2026/09... This one's personal. #RNLI
taxresearch.org.uk
The RNLI: people of courage and commitment to their neighbours, whoever they might be
The Guardian reported yesterday that: A lifeboat station on the south coast of England near the spot where far-right activists tried to stop asylum seekers landing has been forced to temporarily clos...
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Richard Murphy @richardjmurphy.bsky.social · 18/09/2026
The Bank of England is using the wrong weapon against inflation youtu.be/J1YYo-C498E?... We're all going to pay a very high price as a result.
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The Bank of England is using the wrong weapon against inflation
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 17/09/2026
What really causes inflation? It isn’t money creation youtu.be/Vi-hQDibhK4?.... And for those with very little understanding of economics who claim it does, as I show, the evidence doesn't support their case.
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What really causes inflation? It isn’t money creation
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 16/09/2026
Quantitative tightening, or QT. What is it? Why has it been a mistake? What should be done about it now? I wrote this infographic. AI created the image.
An infographic on quantitative tightening
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Richard Murphy @richardjmurphy.bsky.social · 16/09/2026
Bitcoin has an accounting problem which suggests it isn’t money www.taxresearch.org.uk/Blog/2026/09...
taxresearch.org.uk
Bitcoin has an accounting problem which suggests it isn’t money
I was recently asked whether accounting provides a useful way to answer a question that has surrounded Bitcoin since its creation: is it really money? There is an important distinction to make at the...
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Richard Murphy @richardjmurphy.bsky.social · 16/09/2026
The OAP triple lock isn’t a problem. The cost of pension tax relief is. youtu.be/BfcjgWXk36c?... Commentators are saying we cannot afford pensions for the most vulnerable. But none of them is questioning the £83 billion a year spent subsidising the pensions of the wealthiest. Why is that?
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The OAP triple lock isn’t a problem. The cost of pension tax relief is.
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 15/09/2026
What is capitalism? It's a much more complicated question than most people imagine. www.taxresearch.org.uk/Blog/2026/09...
taxresearch.org.uk
Glossary entry: Capitalism
On Saturday, I wrote a piece entitled What is labour was not a cost? It generated a lot of comments, including one noting that I had never written a glossary entry on capitalism, although I had one on...
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Richard Murphy @richardjmurphy.bsky.social · 15/09/2026
Interest rates are rising, but history says they should be falling. youtu.be/vqH1yJ-zqg8?... Are markets trying to force rates up when they should fall in real terms in wartime - which is what we are living through? I think they are, and the cost will be very high.
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Interest rates are rising, but history says they should be falling
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 14/09/2026
Economics and empathy are words not often seen together. They should be. I wrote this infographic. AI created the image.
An infographic on economics and empathy.
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Richard Murphy @richardjmurphy.bsky.social · 14/09/2026
Martin Wolf: a threat to democracy in FT clothing www.taxresearch.org.uk/Blog/2026/09...
taxresearch.org.uk
Martin Wolf: a threat to democracy in FT clothing
Martin Wolf has written in the Financial Times today about the difficult choices facing John Healey as he prepares for his October Budget. Wolf argues that the Chancellor needs to be bold. I agree, bu...
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Richard Murphy @richardjmurphy.bsky.social · 14/09/2026
Why economics needs empathy: the latest in my series on understanding economics youtu.be/wMxXAgzmMH0?...
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Why economics needs empathy: Understanding economics
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 13/09/2026
It’s not too late to beat Reform – but it will be if Labour does not act now www.taxresearch.org.uk/Blog/2026/09...
taxresearch.org.uk
It’s not too late to beat Reform – but it will be if Labour does not act now
What is there to say about the announcement made yesterday that Reform has been given two donations of £36 million, or of £72 million in total, both coming from cryptocurrency billionaires? The first ...
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Richard Murphy @richardjmurphy.bsky.social · 13/09/2026
Why has Anthropic's Dario Amodei called for a halt in AI development? Might it be that he's no idea what to do? He founded Anthropic, but nothing prepared him for this moment. He's called a guru, but he is also human. The blog post provides the explanation. www.taxresearch.org.uk/Blog/2026/09...
taxresearch.org.uk
Why is AI so frightened all of a sudden?
As the New York Times reported last night: The chief executive of Anthropic, the company behind the Claude chatbot, called for a global slowdown of artificial intelligence development in a 3,800-word...
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Richard Murphy @richardjmurphy.bsky.social · 13/09/2026
Is the culture of contentment about to come to an end? youtu.be/teoGyBIQSyQ?... Can we create an economy that provides security for everyone rather than preserving privilege for those who already possess it? John Christensen and I discuss the issue.
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Is the culture of contentment about to come to an end?
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 12/09/2026
Inequality is wrecking Britain, and it's not inevitable youtu.be/Rv3NEq8I9fw?... The real question is, how much inequality will we accept?
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Inequality is wrecking Britain, and it's not inevitable, as Understanding Economics shows
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 11/09/2026
There is no objective number in accounting or in the relationships it records. That fact is necessarily implicit in double-entry, where a debit must be matched by a credit. In turn, those entries exist in relationship to transactions. An infographic, which I wrote and AI drew:
An infographic on accounting and entanglement.
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Richard Murphy @richardjmurphy.bsky.social · 11/09/2026
The central banks begin their war on the innocent victims of inflation www.taxresearch.org.uk/Blog/2026/09...
taxresearch.org.uk
The central banks begin their war on the innocent victims of inflation
The European Central Bank raised its base interest rate to 2.5% yesterday. This move is meant to control inflation arising as a consequence of the war between the USA and Iran, as well as food shortag...
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Richard Murphy @richardjmurphy.bsky.social · 11/09/2026
We need a revolution in how Britain works youtu.be/oLP5qnqpSFs?... Nothing works now. It can't, and it won't, unless we turn our economy around to serve people and not finance. Is that too much to ask for? It would be revolutionary.
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We need a revolution in how Britain works
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 10/09/2026
The supposed certainty many neoliberal thinkers have about accounting and economics is entirely misplaced. The idea that anything in economic data has an objective reality is just wrong. Note: I wrote this infographic. I used AI to create the final image.
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Richard Murphy @richardjmurphy.bsky.social · 10/09/2026
Compass, on the neoliberal road to nowhere www.taxresearch.org.uk/Blog/2026/09... Compass appears to want to end many of the consequences of business as usual without ending the economic thinking that makes business as usual possible, and that won't work.
taxresearch.org.uk
Compass, on the neoliberal road to nowhere
Compass, the think tank that claims to be non-party-based and left-of-centre, published a new 230-page report yesterday titled 'Ending Business as Usual: Policy Options for a Progressive Government'. ...
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Richard Murphy @richardjmurphy.bsky.social · 10/09/2026
Has capitalism failed, or has neoliberalism destroyed it? youtu.be/w7n6p9BbqUk?... Few people now believe that the economy works for them. Those that do tend to be very well off. So has capitalism failed? And when will our politicians realise?
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Has capitalism failed, or has neoliberalism destroyed it?
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 09/09/2026
Giving praise to Burnham and Miliband when it is due www.taxresearch.org.uk/Blog/2026/09... The new policy on Israel is very welcome.
taxresearch.org.uk
Giving praise to Burnham and Miliband when it is due
I think it’s only appropriate to give praise where praise is due, and it was yesterday to Ed Miliband and to Andy Burnham for letting him say what he did in the House of Commons on a new foreign polic...
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Richard Murphy @richardjmurphy.bsky.social · 09/09/2026
Why do the UK's Prime Ministers keep failing? youtu.be/ML-BL0bvzHE?... Could Britain once again have a genuinely transformative Prime Minister? I think so. But first, we need political leaders who understand what government is actually for.
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Why do the UK's Prime Ministers keep failing?
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 08/09/2026
If we want to beat fascism, the answer is easy: scrap neoliberalism www.taxresearch.org.uk/Blog/2026/09...
taxresearch.org.uk
If we want to beat fascism, the answer is easy: scrap neoliberalism
The media appears to have woken up to the fact that there is a right-wing, profoundly fascist threat to stability within the UK. Events over the weekend in Dover and Portsmouth have achieved this outcome. A few people in black have been noticed. Rightly, politicians are condemning the actions of those...
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Richard Murphy @richardjmurphy.bsky.social · 08/09/2026
The Great Discomfort: why the middle classes could lose their security youtu.be/9tH0744Dz4s?... Life in the UK could become uncomfortable for many more people if, as I think is very likely, our economy crashes. The question is, are you ready for that?
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The Great Discomfort: why the middle classes could lose their security
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 07/09/2026
Poverty is not necessary or inevitable. Its existence is a political choice that could be changed. I wrote this infographic. I used AI to create the final image.
An infographic on poverty in the UK.
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Richard Murphy @richardjmurphy.bsky.social · 07/09/2026
Spontaneity can be falsely claimed once. The second time it is organised intimidation. www.taxresearch.org.uk/Blog/2026/09...
taxresearch.org.uk
Spontaneity can be falsely claimed once. The second time it is organised intimidation.
As the FT has reported this morning: On Saturday, people dressed in black and wearing scarves and balaclavas blocked roads near the Port of Dover, which is England’s main hub for ferries to France, di...
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Richard Murphy @richardjmurphy.bsky.social · 07/09/2026
The price of Germany’s black zero austerity: the neoliberal policy that has driven the rise of its far right. www.taxresearch.org.uk/Blog/2026/09...
taxresearch.org.uk
The price of Germany’s black zero: the neoliberal policy that has driven the rise of its far right
The Alternative für Deutschland (AfD) is Germany’s far-right political party, which won a major political victory in the former East German state of Saxony-Anhalt this weekend, possibly giving it a ch...
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Richard Murphy @richardjmurphy.bsky.social · 07/09/2026
What is poverty? It is the result of choices governments make youtu.be/1GDqalmE7MY?... And that means we can solve it, whatever neoliberal politicians of all parties like to claim.
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What is poverty? It is the result of choices governments make
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 06/09/2026
There is no shortage of work in Britain; there is just a shortage of funding to do it.
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Richard Murphy @richardjmurphy.bsky.social · 06/09/2026
What is it? Did it work? Could we do better? An infographic to explain it all. I wrote this infographic. I used AI to create the final image.
What is it? Did it work? Could we do better? An infographic to explain it all.
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Richard Murphy @richardjmurphy.bsky.social · 06/09/2026
Why young people can’t afford homes anymore youtu.be/mHI3XLlAa3Q?... This issue is often described as being one about inequality and finance. But it is more than that. It is also about having a home. And that matters at least as much.
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Why young people can’t afford homes anymore
YouTube video by Richard J Murphy
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Richard Murphy @richardjmurphy.bsky.social · 05/09/2026
Do you and our economy have what is needed to survive the next crash? I wrote this infographic. I used AI to create the final image.
An infographic on economic resilience.
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