Posts Tagged ‘Keynes’

A slow-burning revolution is starting to overturn neo-classical economic orthodoxy

by Bryan Gould.

As the world struggles to deal with threatening outbreaks of violence – most dangerously, in the Middle East and the Ukraine – another less dramatic and slower-burning revolution is getting under way. This revolution does not threaten violence – but it does promise change, and almost certainly change for the better. The revolution that is […]

If the god Janus were an economist, he would work for the IMF

by Ann Pettifor.

In July 2010, Prof Victoria Chick and I said: “fiscal consolidation does not ‘slash’ the debt, but contributes to it.” Last month, the IMF said: “we find that forecasters significantly underestimated the increase in unemployment and the decline in private consumption and investment associated with fiscal consolidation.” In our report (The economic consequences of Mr Osborne), […]

Be angry at bankers, be angrier at economists

by Ann Pettifor.

Like millions of others I am outraged by the LIBOR scandal; the wrongdoings of the ‘submitters’ and other traders at Diamond’s Barclays Bank and their fellow travellers at the British Bankers Association. Which is why we at PRIME economics launched a government e-petition calling for a judicial public inquiry into the wrongdoings of banks, and for […]

An open letter to the leaders of Europe: abandon the Euro’s ‘gold fetters’

by Ann Pettifor.

On May 15th, in what can only be described as an act of coercion, an impoverished and effectively insolvent Greece acceded to the handover of a bond payment – €436 million – to private financial ‘vulture funds’. The Greeks had little choice. However, in acquiescing to this handover – facilitated by its paymasters,‘the Troika’ – […]

The euro lurches towards the abyss, does the Left have a Plan B?

by Ann Pettifor.

The eurogame is up. The banking crisis that started with the unpayable debts of the US sub-prime sector, and has now moved on to include the unpayable debts of sovereigns. It is increasingly clear there is declining political and institutional support for further private bank bailouts.

Where Britain’s going, no-one will follow

by Mark Seddon.

Having staggered through one recession – and without emerging the other side of it – Britain now seems destined for another. This time it will really hurt. A Martian arriving in London, or rather at the Mother of Parliaments in Westminster, could be mistaken for thinking that all of Britain’s economic woes could be laid […]

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