Posts under ‘Macroeconomics’

Capital, wealth and cannibalism

by Ann Pettifor.

It’s really aggravating when someone can cogently express points that one has gnawed at inchoately for weeks. John Kay’s column in the Financial Times – The capitalists sold the mills and bought all our futures – is one such aggravation, and is superb. Kay deals elegantly with Thomas Piketty’s analysis and the definition and calculation of […]

Economic recovery failing working people

by Grahame Morris.

In 2010, the Tories promised to make work pay. Today, they are hailing the economic recovery, growth revised up and record numbers of people in employment. The economy is certainly working for those at the top. A top rate income tax cut has coincided with the return of bankers bonuses and above inflation increases in […]

The way back from Rochester, Strood and austerity

by Michael Meacher.

Mark Reckless’ UKIP victory over the Tories serves notice on all the parties. The Tories, having sworn to “throw the kitchen sink” at retaining it in Cameron’s words he must now regret, see a near-10,000 Tory majority in 2010 turned into a 3,000 (7.3%) UKIP lead. Labour, which never had a chance of winning, loses nearly […]

What do Britain’s private sector firms contribute?

by Michael Burke.

The main factors that account for economic growth are increases in the workforce or in the amount of productive capital in the economy. A far smaller contribution is made by improvement in productivity as a result of innovation. Since mid-2009 the British economy has grown. But this is wholly accounted for by growth in the […]

Strip the private banks of the power of money creation

by Michael Meacher.

The House of Commons held a very important debate this last week on the creation of money, a process which the Big 4 banks have monopolised and thus privatised the money supply.   The abuse of this power over the last 3 decades has been enormous, and I used this debate to propose an entirely […]

Why haven’t there been riots about endless austerity? That may be about to happen

by Michael Meacher.

One of the most remarkable facts about the British public’s attitude to prolonged austerity is the lack of the kind of open revolt which has been seen in so many other countries. In Greece it has led to the dramatic rise of Syriza under the dynamic leadership of the radical Tsipras who now has a […]

Cameron tries to blame foreigners for UK ‘recovery’ fizzling out

by Michael Meacher.

It’s a bit rich for Cameron, in his statement yesterday from Brisbane, blaming the world out there, particularly the eurozone, for the fading UK recovery when those countries are pursuing almost exactly the same economic policies as he is. That is relentless and unending austerity, which he conspicuously failed even to mention. Now that the […]

The rise and rise of Podemos: a movement for popular empowerment

by Mike Phipps.

One of the highlights of the recent AGM of the Labour Representation Committee was the address from Leticia Bernues Caudillo from Podemos which took 8% of the vote in the European elections and won five MEPs just three months after being founded. Podemos (“We can!”) was inspired by the radical left force in Greece, Syriza. It grew […]

The case for abandoning austerity is a no-brainer, mathematically, financially and politically

by Michael Meacher.

Labour needs a game-changer to settle the result of the next election once and for all. As it happens it has the perfect opportunity ready to hand. Osborne is foolhardy enough to announce six months before the election that he intends to impose further cuts of £25bn to get on track to eliminate the structural deficit […]

The honeymoon is over for Italian PM Mateo Renzi

by Tom Gill.

Thousands took to the streets of Milan and other cities on Friday in the first of union-led protests that will culminate in a general strike next month. At issue is the government’s labour counter-reforms that will make it easier for firms to fire workers, adding to the growing ranks of the precariat in the Eurozone’s […]

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