Posts under ‘Macroeconomics’

Labour will inherit a crisis, not a recovery

by Michael Burke.

At a certain point in the next few months the recession in Britain will officially be over as the real level of GDP will finally exceed its previous peak in the 1st quarter of 2008. The media coverage will be generally very favourable, in the hope that this will boost the Tory vote and vindicate the […]

Why BBC News ignored the People’s Assembly march

by Phil Burton-Cartledge.

By any common sense measure, a large protest ambling through London should be big news. The Graun covered it. Twitter was all over it. And yet, the many thousands who turned out on the People’s Assembly March Against Austerity got nary a mention on BBC News bulletins. All it merited was a postage stamp of an article on the website. And […]

A royal whimper when we need to supplant 35 years of Tory and pseudo-Tory rule

by Michael Meacher.

The Queen’s Speech, drafted in deathlessly trite prose by civil servants and special advisers, should – and occasionally does – rise to the challenge of setting the national agenda. This one was flat all the way through. There was nothing about countering austerity, allowing hard-working people to share in the recovery with a proper wage […]

French PM ploughs on with austerity but at what price?

by Tom Gill.

Translated by Tom Gill  from the French original by Guillaume Duval Despite the political thunder of the European elections of 25 May, France’s President and Prime Minister Manuel Valls chose the moment to stay the course of their “stability program” presented a month earlier to the National Assembly and approved by it after a fraught debate. […]

So where now for Europe?

by Michael Meacher.

The irony for the EU, which even its leaders now recognise must change course radically, is that it can’t. At least it can’t in its present structure without such dislocating changes as to be scarcely credible. The central problem has been, and remains, the single currency. As long as countries, particularly on the southern periphery, […]

Can the Tories hold out to 2015?

by Michael Meacher.

It is now touch and go on at least three accounts whether Tory plans can hold up till May 2015. In the NHS cuts are now forcing twice as many mental health patients to travel out of area as 2 years ago. GP surgeries are approaching crisis with millions left without a doctor. One in 5 […]

The Blairites are wrong about the deficit

by Michael Meacher.

It’s always good to know that the Blairites are worried because it normally means that Ed has taken another step which will help win the next election. And so it is this time again, with Ed promoting proposals to stop exorbitant rent rises and looking to end some of the privatised rail franchises. In response […]

China to overtake US economy by 2015: trying to learn from what works

by Michael Burke.

Facts can be a very severe judge. Either economic structures, the models used to explain them and economic policies work, or they don’t. The factual verdict alone can determine who was right, what was successful, what economic system works best. The chart below is reproduced from The Economist. It shows the change in the IMF’s […]

Why banks power to create money should be regulated and directed (but not ended)

by Ann Pettifor.

Ann is author of “Just Money: how society can break the despotic power of finance”, published by Commonwealth, 2014.  The Financial Times is hosting a major debate on whether the private banking system should be allowed to continue creating 97% of the credit or money circulating within the economy. Martin Wolf, its respected economics commentator, supports […]

Millions struggling to make ends meet isn’t a recovery, it’s desperation

by Michael Meacher.

From the constant hurrahs about the brilliant success of government employment policy (official figures now say there are 30.39m in ‘employment’), you would never guess that unemployment has hardly shifted under this government – it’s down from 2.5m to just 2.4m. Previously when real recoveries took hold, the unemployment figures fell by 100,000 a month, […]

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