Posts under ‘Trade’

Democracy is what’s missing

by Bryan Gould.

Simon Wren-Lewis, with whom I usually have little difficulty in agreeing, has published a blog in recent days in which he explains why, in his (and others’) views, it is impossible to play a full part in the global economy – in other words, to enjoy free trade – while maintaining the full powers of […]

Yemen’s calamity – blood on Britain’s hands

by Mike Phipps.

The Campaign Against the Arms Trade (CAAT) has published a new report, A Shameful Relationship: UK Complicity in Saudi State Violence by David Wearing. It exposes how the UK’s supply of weapons to Saudi Arabia for its devastating bombing of Yemen systematically violates international law. UK-made aircraft, bombs and missiles have been used in the bombing and […]

Government intervention is vital to save steel and reverse industrial decline

by Steve Laughton.

Ken Clarke was pronouncing on Radio 4 several days ago that in the eighties people were calling for nationalisation to save British industry. He claimed the idea that the UK will collapse unless the government steps in has been heard before and is tired old nonsense. He seemed to think that history and the magic of free […]

It’s the country’s deficit not the government’s that matters – devalue to re-industrialise

by Bryan Gould.

The imminent crisis in what is still laughingly called the British steel industry is being greeted just as other similar developments have been for decades – with consternation and anger, with concern for the implications for social cohesion in general and for workers’ families in particular, but with no recognition that this is just the […]

Understanding the economics of Britain’s wars

by Michael Burke.

Britain is a very frequent participant in US-led wars. This stands in contrast to many other European states ranging from countries such as Sweden, to Spain, to Italy and Germany. The piece below examines the material reasons for this difference, and explains British politicians’ determination to join in US military adventures. The widely held view […]

Memo to Jeremy & John: it’s the country’s deficit that matters, not the government’s

by Bryan Gould.

A major factor in Jeremy Corbyn’s appeal to voters in the recent leadership election – and potentially to the wider electorate as well – was his brave assertion that austerity was the wrong response to recession and was doing absolutely avoidable damage to both economic performance and social cohesion. That assertion not only gave fresh […]

Osborne is beginning to make some serious mistakes

by Michael Meacher.

Osborne has always had an overweening arrogance as he plots his path to the premiership before 2020. But his calculation is beginning to desert him. It is extraordinary that he has spent a week sucking up to China, accompanied by six ministers in his retinue, when everyone else is fleeing the country as being in […]

Northern Powerhouse – The gap between reality and rhetoric

by Grahame Morris.

There is no better illustration of the gap between the rhetoric and reality than the Government’s failure to support our steel industry. The UK steel industry is in crisis. While George Osborne was in Shanghai this week selling the UK energy sector to the Chinese Government, steel production on Teesside could come to an end […]

Crisis hasn’t gone away. Corbynomics will be increasingly necessary

by Michael Burke.

One of the most widely repeated falsehoods about the British economy is the assertion that it is growing strongly and that the crisis is over. This is not borne out by even a perfunctory economic analysis but it serves a political purpose. In the first instance the assertion was important in order to blunt any […]

Carney’s rose-spectacled survey of the economy as Parliament returns does not convince

by Michael Meacher.

The UK economy’s ticking over fine: that’s the view of Carney, Osborne’s man. So that’s alright then. Or is it? With time-honoured spin we were treated to the most optimistic scenario on every count, with the flip-side downturn kept carefully out of sight. His central message was that “there is no clear evidence of deflationary […]

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