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Read the passage carefully and answer the following questions:
Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.
Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.
The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.
The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.
Q. "Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?
- a)Capitalism cannot exist in the absence of an influx of money from central banks.
- b)Capitalism's functioning is dependent on the supply of money by central banks.
- c)Capitalism needs to operate closely with the central banks to function well.
- d)Unrestrained supply of money by central banks fosters the growth of capitalism.
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
Read the passage carefully and answer the following questions:Why woul...
The author supplements the statement by stating that printing more money makes borrowing cheaper. Capitalism is ultimately dependent on the supply of money from the central banks. Here we can infer that the supply of money from the central banks is crucial to capitalism.
Option A is extreme. It is not possible to conclude that capitalism would become extinct in the absence of money supply from central banks.
Option B conveys that money supplied by the central banks is crucial to capitalism's survival. It does not go to extreme ends and captures the author's stance correctly. Hence it is the answer.
Option C takes the metaphor in a literal sense. It distorts what the author wants to convey and implies that an equivalent relationship with central banks is important (the author, however, limits the functioning of capitalism with regard to the central banks). Hence C is incorrect.
Option D is out of scope. It talks about unrestrained supply of money, which has not been implied in the passage.
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Read the passage carefully and answer the following questions:Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.Q."Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?a)Capitalism cannot exist in the absence of an influx of money from central banks.b)Capitalisms functioning is dependent on the supply of money by central banks.c)Capitalism needs to operate closely with the central banks to function well.d)Unrestrained supply of money by central banks fosters the growth of capitalism.Correct answer is option 'B'. Can you explain this answer?
Question Description
Read the passage carefully and answer the following questions:Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.Q."Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?a)Capitalism cannot exist in the absence of an influx of money from central banks.b)Capitalisms functioning is dependent on the supply of money by central banks.c)Capitalism needs to operate closely with the central banks to function well.d)Unrestrained supply of money by central banks fosters the growth of capitalism.Correct answer is option 'B'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Read the passage carefully and answer the following questions:Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.Q."Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?a)Capitalism cannot exist in the absence of an influx of money from central banks.b)Capitalisms functioning is dependent on the supply of money by central banks.c)Capitalism needs to operate closely with the central banks to function well.d)Unrestrained supply of money by central banks fosters the growth of capitalism.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the passage carefully and answer the following questions:Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.Q."Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?a)Capitalism cannot exist in the absence of an influx of money from central banks.b)Capitalisms functioning is dependent on the supply of money by central banks.c)Capitalism needs to operate closely with the central banks to function well.d)Unrestrained supply of money by central banks fosters the growth of capitalism.Correct answer is option 'B'. Can you explain this answer?.
Read the passage carefully and answer the following questions:Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.Q."Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?a)Capitalism cannot exist in the absence of an influx of money from central banks.b)Capitalisms functioning is dependent on the supply of money by central banks.c)Capitalism needs to operate closely with the central banks to function well.d)Unrestrained supply of money by central banks fosters the growth of capitalism.Correct answer is option 'B'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Read the passage carefully and answer the following questions:Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.Q."Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?a)Capitalism cannot exist in the absence of an influx of money from central banks.b)Capitalisms functioning is dependent on the supply of money by central banks.c)Capitalism needs to operate closely with the central banks to function well.d)Unrestrained supply of money by central banks fosters the growth of capitalism.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the passage carefully and answer the following questions:Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.Q."Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?a)Capitalism cannot exist in the absence of an influx of money from central banks.b)Capitalisms functioning is dependent on the supply of money by central banks.c)Capitalism needs to operate closely with the central banks to function well.d)Unrestrained supply of money by central banks fosters the growth of capitalism.Correct answer is option 'B'. Can you explain this answer?.
Solutions for Read the passage carefully and answer the following questions:Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.Q."Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?a)Capitalism cannot exist in the absence of an influx of money from central banks.b)Capitalisms functioning is dependent on the supply of money by central banks.c)Capitalism needs to operate closely with the central banks to function well.d)Unrestrained supply of money by central banks fosters the growth of capitalism.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CAT.
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Here you can find the meaning of Read the passage carefully and answer the following questions:Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.Q."Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?a)Capitalism cannot exist in the absence of an influx of money from central banks.b)Capitalisms functioning is dependent on the supply of money by central banks.c)Capitalism needs to operate closely with the central banks to function well.d)Unrestrained supply of money by central banks fosters the growth of capitalism.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Read the passage carefully and answer the following questions:Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.Q."Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?a)Capitalism cannot exist in the absence of an influx of money from central banks.b)Capitalisms functioning is dependent on the supply of money by central banks.c)Capitalism needs to operate closely with the central banks to function well.d)Unrestrained supply of money by central banks fosters the growth of capitalism.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Read the passage carefully and answer the following questions:Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.Q."Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?a)Capitalism cannot exist in the absence of an influx of money from central banks.b)Capitalisms functioning is dependent on the supply of money by central banks.c)Capitalism needs to operate closely with the central banks to function well.d)Unrestrained supply of money by central banks fosters the growth of capitalism.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Read the passage carefully and answer the following questions:Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.Q."Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?a)Capitalism cannot exist in the absence of an influx of money from central banks.b)Capitalisms functioning is dependent on the supply of money by central banks.c)Capitalism needs to operate closely with the central banks to function well.d)Unrestrained supply of money by central banks fosters the growth of capitalism.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Read the passage carefully and answer the following questions:Why would 12 of the richest men in football, executives paid for their supposed prowess in managing global brand names such as Barcelona and Manchester United, screw up so badly? Why did they think the players, the fans, Uefa, Fifa and the national governments of Europe would let them walk away with a £4bn cartel, leaving the eviscerated corpse of ordinary football on the dressing room floor? As the European Super League plan lies in ruins, the answer is clear: capital. There’s too much of it chasing too little real economic value in the world.Capitalism is confined within the oxygen tent of central bank money. The more central banks print money, the cheaper it is to borrow. And yet the real economy, its dynamism flattened after the 2008 crash and its capacity scarred by the Covid-19 pandemic, remains sluggish. So the free money created by governments - and yes, central banks are ultimately part of the state - can only flow upwards. A glance at the leaked details of the Super League proposal should provide a teachable moment about financialised monopoly capitalism. The aim was to create a cartel of clubs that would generate £4bn a year - double the revenue of the current European Champions League. Closing entry to the league was only half of the plan. The other half was to operate a US-style spending and salary cap, effectively forcing individual clubs and players into a semi-feudal relationship with the Super League itself. They would operate the same “capitalist communism” as the National Football League in the US - sharing the revenue more evenly than in a truly competitive competition.The Super League used the Spanish courts - some of the most politicised and questionable in the developed world - to prevent Fifa and Uefa from blocking the move. But when the British political elite united in condemnation of the scheme - with Boris Johnson threatening to drop a “legislative bomb” - that was decisive. English football was at the epicentre of the Super League scheme because it is the most financialised, with major clubs already grabbed by asset strippers and riddled with the dodgy money of foreign magnates. It is the league in which fans have least control, but where players have gamed the system to achieve a high degree of autonomy, and political salience.The “super league” idea has been around for more than 20 years. It will stay around because the US sports cartel model works. There is no international basketball, baseball or gridiron football for a reason: these are American-owned cartel sports, staged as a circus for global entertainment. They work because they embody the essential principles of monopoly capitalism: the cartel is more powerful than the companies within it; the companies more powerful than the employees (the players); and the consumers have no choice. The point about cartels, however, is that they kill capitalism, innovation, and choice. What we really need is public ownership, regulation, and control of the national football infrastructure.Q."Capitalism is confined within the oxygen tent of central bank money." Which of the following statements best captures the essence of this statement?a)Capitalism cannot exist in the absence of an influx of money from central banks.b)Capitalisms functioning is dependent on the supply of money by central banks.c)Capitalism needs to operate closely with the central banks to function well.d)Unrestrained supply of money by central banks fosters the growth of capitalism.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CAT tests.
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