Ann Pettifor

Anglo-American Financial Crisis

The age of liberal finance over. The left’s Plan B?

By Ann Pettifor. An edited version of this piece was published on Left Foot Forward, 14 September, 2011. This original, longer version posted 19 September, 2011.  The game is up. The 2007-9 private banking crisis that started with the unpayable debts of the US sub-prime sector, was never over. The crisis has now moved on …

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Making the boom pay….radio interviews and upcoming talks

It has been a busy week in Australia – I will be posting in more detail very soon. But for now you can listen to an interview with me on ABC Radio National Breakfast: http://www.abc.net.au/rn/breakfast/stories/2011/3310691.htm For any of you in Sydney – come along to the Catalyst event: ‘Making the boom pay… if not now, …

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What a financial tailspin may mean for you and me

Wall Street plummeted as concerns over European debt and the US economic downturn spurred a broad sell-off. Photograph: Shen Hong/Xinhua Press/Corbis Read my article from Guardian Cif, Friday 19th August: As bank shares and stock markets plummet, and investors flock to the safety of government bonds; as obstinate EU leaders crucify their countries in a …

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Eight fallacies in the LSE Keynes/Hayek debate

Tonight, Wednesday 3 August 2011 at 08.00pm BST (GMT +1), BBC Radio 4 will broadcast a debate which took place at the London School of Economics (LSE) on 26 July.  This broadcast will be repeated on Saturday, 6 August, at 10.15 p.m BST (GMT +1). Along with my colleagues Prof. Victoria Chick and Douglas Coe at PRIME  we have written the …

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Clinton spots it: the austere emperor has no clothes.

This is a revised version of a blog written hastily – too hastily – for Left Foot Forward on 8 July. In particular it corrects a point about the origins of the Keynesian multiplier. The austerity brigade is rattled. Daniel Knowles at the Daily Telegraph is so worried, he has had to rise to the …

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Knowles needs to listen more carefully to ‘hero’ Clinton on deficit reduction

The austerity brigade is rattled. Young Daniel Knowles over at the Daily Telegraph is so worried, he has had to rise to the defence of the Treasury and Office for Budget Responsibility – and then resorts to proposing Greece’s economic strategy for the UK. Why? Because orthodox economic ideology has been challenged by none other than Daniel’s …

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Is the banking crash imminent?

Bernard Madoff’s 90ft yacht ‘Bull’ is offered for sale in Monaco for €3m this week. Image source: associated press. I learnt to my cost that the role of Cassandra is no fun.  Why “Apollo’s cursed gift is a source of endless pain and frustration.” While it is possible to note that the ‘tectonic plates’ of …

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Why I did not sign the Observer letter for ‘Plan B’

I thought long and hard before refusing to sign the letter calling for a Plan B. Not because I do not think it is urgently required. But because the letter called for “clamping down on tax avoidance and evasion, as well as by raising taxes on those best able to pay.” It goes without saying, …

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Crisis? What crisis?

Apropos the last post: we dissidents are not alone. Have belatedly come across David Malone’s  excellent post (written earlier but somehow missed by me) on the same theme –  the airbrushing of the financial crisis from all political discourse. David goes further and highlights the implications for democracy and the rule of law.  I hope …

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Coming soon: another global financial crash? Capital mobility and the commodity mania

Tin produced at a Glencore plant in Vinto, Bolivia “Experience shows that when policies falter in managing capital flows, there is no limit to the damage that international finance can inflict on an economy.” Yilmaz Akyüz, “Capital Flows to Developing Countries in a Historical Perspective: Will the current Boom End with a Bust?” Today, as …

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