10 years after – and nothing has changed.
The following is an interview with Yena Yoon – a financial journalist with Chosen Ilbo “the largest newspaper in South Korea” conducted on 12 February, 2018, but still relevant.
Economic Orthodoxy
How governments finance their spending (and its not from taxation).
Readers of this blog may know that Patrick Allen, founder of the Progressive Economy Forum (PEF) invited me to become a member of its distinguished Council in July this year. Other members include Professors John Weeks, Joseph Stiglitz, Stephany Griffiths-Jones, Robert Skidelsky, Daniela Gabor, Danny Darling, Ha Joon Chang and Doctors Johnna Montgomery, Geoff Tily, …
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The BBC’s Cassandras of the Crash
On Wednesday, 19th September and again on 22nd September, the BBC broadcast an interview in which I participated. It was called Cassandras of the Crash. The programme is available on the BBC’s Radio 4 website, with the following introduction. “Ten years ago, in autumn 2008, the world watched as the biggest financial meltdown in …
The Crisis: Causes and Consequences
The following is an article I wrote and that appeared in a Progressive Economy Forum publication in September, 2018: 10 Years Since the Crash: Causes, Consequences and the Way Forward.
The Indefatigable Efforts of J. M. Keynes
This is an extract from an article written for The Times Literary Supplement The international and financial dimensions of Keynes’ work are today neglected in favour of the laissez-faire economics that Keynes had so vigorously contested. His profession is dominated by economists concerned overwhelmingly with the activities of individuals, …
The Treasury view and a sheep farmer in the Yorkshire Dales
This was first published as a column in the Independent, on Sunday, 26th August, 2018 On holiday in the in the safe Tory seat of Richmondshire in the Yorkshire Dales this week, we watched as a dedicated sheep farmer demonstrated the skills and athleticism of his working dogs. Five generations of Richard Fawcett’s family have …
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The Irish Housing Crisis & the Crisis of Economics
This is the original text of an article that appeared, after edits, in the Irish Times on 22nd June, 2018. Economists regard the theory of ‘supply and demand’ as nothing less than a ‘law’ and “and as one of the fundamental principles governing ‘the economy’. Almost every economic event or phenomenon is considered the product …
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Review: The Growth Delusion by David Pilling
This review first appeared in the Times Literary Supplement on the 10 May, 2018 under the title: Greed is not Good. The subject of growth is popular with economists, not so much with ecologists. It has been much studied and written about – by philosophers, theologians, scientists, environmentalists – as well as economists. John Stuart …
On Tectonic Plates, the Economic System and the Economics Profession
This article was first published on the PRIME website: On Tectonic Plates.. 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 …
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Interview with New Zealand’s Biggest Business Website – STUFF
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. “Ann Pettifor predicted the global financial crisis, and …
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