Ann Pettifor

Is it unreasonable to blame bankers/rentiers for the rise in populism?

At the April Rethinking Economicsconference in Oslo  I pointed out that western politicians and economists are repeating policy errors of the 1930s. The pattern of a global financial crash, followed by austerity in Europe and the UK, led in those years to the rise of populism, authoritarianism and ultimately fascism. The scale of economic and political …

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On tectonic plates, the economic system and the economics profession

It is my view that the greatest weakness of economics is the habit of drawing, or encouraging politicians to draw, macroeconomic conclusions from microeconomic reasoning (“the government budget, like a household budget, must balance”). This weakness is endemic within the profession. It is caused by the deliberate neglect of macroeconomics, including shameful neglect of Keynes’s …

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Interview with New Zealand’s biggest business website

On the 15th April, this year, I visited New Zealand at the invitation of the Institute of Directors, to address 600 CEOs at their annual meeting. This is an interview given to the journalist Rob Stock in which he asked about the possibility of another financial crisis.

From Prospect Magazine: there can never be a market in money

Prospect magazine’s April 14, 2018 edition ignited a debate between orthodox and heterodox economists. It also included a page titled:   In my contribution I tried to explain the nature of money. Not sure I succeeded. Anyway, here it is: “Unlike the prices of bitcoins or gold, the price of money is not determined by …

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George Osborne, Hubris and Nemesis

This piece appeared in the London Observer on Sunday, 4th March, 2018 By asserting the policy of “monetary radicalism and fiscal conservatism”, Osborne and his colleagues ensured that those responsible for the crisis benefited from the Bank of England’s quantitative easing programme, which inflated asset prices largely owned by the more affluent. Simultaneously, the Conservative …

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OXFAM, Corbyn and a dead cat

  Early in February, a leading Brexiteer MP (Jacob Rees-Mogg MP) delivered a Daily Express petition to No 10 calling for an end to “foreign aid madness” – an event that gathered virtually no publicity. Why should it have? Jacob Rees-Mogg knows very little, and cares less about international development. The story died. A new …

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