‘The Austerity Con’ is the title of a recent article in the London Review of Books. It is written by a leading Keynesian economist Professor Simon-Wren Lewis, who is also a fellow of Merton College, Oxford. It deserves to be widely read because it contains two important arguments against austerity. The first argument nails the […]
Posts Tagged ‘Public Investment’
People need hope, not more of the Tory austerity fairytale
Oct 28th, 2014 by Michael Meacher.Ha-Joon Chang in the Guardian is right that “the country is in desperate need of a counter narrative” to the Tory story on the economy. I believe it should go like this. First, Labour did not leave behind an economic mess; the bankers did. Labour was not profligate: the biggest Labour deficit in the pre-crash years was […]
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Only public investment can save Britain from semi-permanent austerity
Nov 17th, 2013 by Michael Meacher.There are four reasons why the future of the UK economy, both internally and externally, does not look good. No sustainable recovery can occur till these four obstacles have been cleared, and of that there is no sign. First, the collapse in business investment has been devastating: it is still 25% below its pre-crash level. […]
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Islamic bonds and foreign state investment in UK, but still no UK public investment
Nov 1st, 2013 by Michael Meacher.Osborne is today unveiling a £200m Islamic bond or ‘sukuk’ to try to make the City of London the leading player in the sharia-compliant finance industry, which is estimated to be worth $1 trillion globally.’ He has made clear he wants to make the City the base for Chinese banks and a global hub for […]
