Ann Pettifor

Climate Change

Reclaiming Central Banks

  This article first appeared on the Project Syndicate website on 21st September, 2021 Fifty years ago, a US president closed the gold window, ended capital controls, and launched a new era of globalized finance. The “Nixon Shock” reshaped the international monetary system overnight, and then gradually changed the status of central bankers. Instead of acting as …

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Industrial Policy’s Comeback?

  This is my comment on a major article on Industrial Policy in the Boston Review, published in September, 2021. The leading article was by Professor Mariana Mazzucato, Rainer Kattel and Josh Ryan-Collins. In their well-executed argument for a new approach to economic policy, Mazzucato, Kattel, and Ryan-Collins spell out how governments could develop an industrial policy to shape …

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US gifts Wall St. the Green New Deal

  Last week the Biden team delivered their first press conference on the Democrat’s much-anticipated Climate Plan. The good news is that Climate Envoy, John Kerry and Advisor, Gina McCarthy are talking about the Climate Plan delivering “Good paying Union Jobs”. All hail to that ambition. The bad news is that this ain’t no Rooseveltian …

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COP26: System change to sustain life on earth

The UN’s conference takes place in November 2021and will be led by the British government. It is apparently committed to “uniting the world to tackle climate change”. It needs to achieve far more. To tackle climate change and protect the ecosystem that sustains life on earth, we need to do more than just bring down …

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Radically transforming the EU economy – and how to finance it

September 4, 2020 The following article appeared on Progressive Post, the website of the Foundation of Progressive European Studies (FEPS) The Covid-19 pandemic has revealed a simple truth: today’s model of globalised, financialised capitalism, teetering on a shaky foundation of vast debts and costly credit, cannot deliver human well-being. In order to reverse the course, …

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The duel: Should we aim to get the economy back to “business as usual”?

The following debate between Paul Wallace and Ann Pettifor appeared in Prospect magazine on 10 July, 2020.   Is our capitalist economy an unparalleled engine of prosperity, or a human and ecological disaster? Two contributors debate whether the system is worth saving   Yes—Paul Wallace It is tempting, when living through a once-in-a-century event such …

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Rebuild the Ramshackle Global Financial System

The following appeared in Nature magazine on 17 June, 2020 Economic researchers neglect the role of financialization in global existential crises. Riddled with comorbidities, the current global monetary and financial set-up precipitates crises with increasing frequency. At first, these were on the fringes of the global economy; in 2007–09 they moved to its very core. …

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