I wrote a piece on Keynes and monetary policy for the Standard, which appeared on Thursday, 23rd October, 2008. You can read it below. Today a group of monetarist economists , supported by a range of bankers, have written to the Telegraph objecting to a public works programme to help economic recovery. They are right […]
24th October, 2008 The NS has published a short piece this week: “Economists simply would not accept that their model could fail“. An introductory sentence is not mine: “Who would have predicted..that prudent Gordon Brown (would) breach the EU cap on government spending?” Am writing to the NS to ask for a correction to be
21st October, 2008 A new Bretton Woods: To save economies and the planet, we must tame markets,upsize the state, and downsize the global single market. This piece is derived loosely from the book I edited at the new economics foundation “Real World Economic Outlook” (Palgrave, 2006). The proposal for an International Clearing Agency draws on
The World Tonight, Monday 14th October, 2008, 10.38pm. Listen here
Ann Pettifor on BBC Radio 4: Return of Bretton Woods? Read More »
9th October, 2008. Central banks’ obsession with inflation is stopping them from tackling a far more pressing threat. Read more here…
Both the British Chancellor, Alastair Darling and the shadow Chancellor, George Osborne, have been on the radio this morning, resisting the idea that interest rates are political. Instead they have argued, vehemently, that the Bank of England is independent, and that the Bank must decide whether or not to lower interest rates.
Rates: the BoE is not independent – it has a political mandate Read More »
Sunday 5th October, 2008 The decision tonight by Germany to guarantee 100% of all savings in German banks first flagged up by the BBC earlier this Sunday evening, but modified later, is a clear signal that there is panic afoot. A run on German banks must be imminent. Why? Because the only way to prevent
Wednesday 1st October, 2008 The massive deflation/de-leveraging of credit and debt that is now cascading through the banking system and rapidly deflating the value of housing and other assets in the Anglo-American economies will precipitate large-scale, global economic failure, for years to come. Read more…
The Credit Crunch and the Green New Deal… in Compass Read More »
Tuesday 30th September, 2008. Anglo-American finance ministers and central bankers, like little Dutch boys, try desperately to plug leaks in the bursting dyke that is the international financial system. In the US, treasury secretary Hank Paulson hoped for $700bn to plug the gaping hole in Wall Street’s banks. In the UK, the government is not
Tuesday 30th September, 2008. Sir, Your editorial “In praise of free markets” (September 27/28) conflates regulation of trade markets with that of financial markets. This is a flawed analysis, one at the core of most economic orthodoxy – that money, like land, oil, soya beans, diamonds or gold, is a commodity, and therefore that trade
Bring back cool reasonable voice of Keynes… in the FT Read More »
