Posts under ‘Macroeconomics’

Why the Scottish uprising will not lead to independence

by Ann Pettifor and Jeremy Smith.

The Scottish campaign for independence is effectively an uprising against the British state and its collusion with the globalized, mobile finance sector and supranational corporations. It is a protest against an economic and political system increasingly centralised and aloof—a protest bound to spread to other equally neglected regions. It is a campaign to end allegiance […]

Austerity is on course to be a lot worse

by Michael Burke.

The Office for Budget Responsibility (OBR) has produced its latest assessment of the economic crisis and its impact on government finances (pdf here). In common with the UK Treasury the OBR tends to underestimate the impact of austerity policies and consequently has a persistently over-optimistic outlook for the British economy. This is no surprise as the […]

Near-universal call for industrial recovery blocked by 3 party austerity obsession

by Michael Meacher.

A YouGov poll this week says 85% want the next government to promote a stronger UK manufacturing base, with 62% believing it will give the country more economic security. They’re absolutely right of course, and that is the centrepiece of my book The State We Need: Keys to the Renaissance of Britain. But it isn’t going […]

The economic ‘recovery’ won’t hold till election next May

by Michael Meacher.

Fortunately for Osborne, Scotland is keeping the parlous state of the economy out of the news. UK manufacturing export orders have now turned negative for the first time in nearly 2 years, dimming any expectations that manufacturing and exports would lead the way in any upsurge. The immediate reasons blamed are the flagging Eurozone economy, […]

To reinvent our economy we need to reframe the debate

by Dave Watson.

The left needs to reframe the debate by imagining a different way of running our economy. In his Guardian column last week, Oliver Burkeman commented on the reclining airline seats ‘war’ by saying, “Stop arguing. Capitalism already won this stupid war“. It’s not the fairness of reclining or not, it’s because airlines cram so many […]

The next Labour government must address casualisation

by Andy Newman.

Mark Carney’s speech to the TUC Congress yesterday was interesting, and it was right for the unions to invite him. As major civil society institutions with mass membership, the trade unions can and should seek to influence the parameters of democratic debate unmediated by political parties, alongside of course the different strategies for engagement through […]

The new EU Commission has marked up a TTIP deal with US as a key objective

by Michael Meacher.

The fight over the euphemistically named Trans-Atlantic Trade and Investment Partnership (TTIP), which the US Congress successfully blocked over the last year, is about to be pushed forward in a higher gear now that the new EU Commission has made clear their eagerness to drive a deal through with the US over this next year. […]

Labour’s economic policy – a lingering attachment to austerity

by Peter Kenyon.

There was nothing subtle about economic policy under New Labour. ‘We are getting into bed with business‘. Fingers to the hoi polloi. ‘You’ve got nowhere else to go‘. People in their millions voted blindly for it in 1997. A significant proportion got wise by 2001 and placed their ‘X’ elsewhere or decided ‘None of the […]

Twenty-two days that changed the world

by Ann Pettifor.

Review of The Summit by Ed Conway, published by Little, Brown, 2014 In this carefully researched book Ed Conway tells a gripping human tale about the July 1944 Bretton Woods Conference – “the biggest battle of the Second World War – fought behind closed doors”. He provides remarkable insights into the personal, geopolitical and intellectual dynamics that […]

Austerity is the cause of the crisis in France. Investment can end it

by Michael Burke.

The French economy is in a grave crisis, much worse even than the sluggish growth of the OECD countries and almost as bad as Britain. In the 6 years since the beginning of the crisis the OECD economy as a whole has grown by just 4.5%. Over the same period the French economy has grown […]

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