Ann Pettifor

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Ann Pettifor

Political economist, author and public speaker

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Economic Orthodoxy

On Tectonic Plates, the Economic System and the Economics Profession

February 13, 2019 / Austerity, Bank Bail-outs, Economic Orthodoxy

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

October 21, 2018 / Anglo-American Financial Crisis, Debt, Debt-deflation, ECB, Economic Orthodoxy, Federal Reserve, Inflation Targeting, Interest Rates, Uncategorized

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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The Financialisation of the Housing Market

August 3, 2018 / Capital Flows, Economic Orthodoxy, Globalisation, Housing

This is the original, long version of an article I wrote for the Guardian. The published version was edited down, and appeared on 28th January. This version was written on 11th December, 2017. “If some of us grow rich in our sleep, where do we think this wealth is coming from? It doesn’t materialise out …

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We Have the Power….

August 3, 2018 / Economic Orthodoxy, Globalisation

Together with Jeremy Smith of Policy Research in Macroeconomics (PRIME), I wrote this for the website UnHerd.com, edited by Tim Montgomerie. The site’s aim is “to appeal to people who instinctively refuse to follow the herd and also want to investigate ‘unheard’ ideas, individuals and communities.” The piece begins with this quote from Alice Walker: …

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Why Building More Houses Will Not Solve the housing Crisis

August 3, 2018 / Capital Flows, Economic Orthodoxy, Housing, Taxation, Tobin Tax

I wrote a piece for the Saturday (26 January 2018) Guardian. Its been described by many as “counter-intuitive” – because in it I draw on the research of others (notably that of Ian Mulheirn – director of consulting at Oxford Economics)  to argue that building more houses will not dampen house prices. I posed this …

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UK Budget 2017 and OBR Forecast for British Economy: PRIME Evidence to Treasury Select Committee

August 3, 2018 / British Chancellor, Economic Orthodoxy, Fiscal Deficit, UK Financial Crisis

On Wednesday 29 November 2017, PRIME’s director, Ann Pettifor, gave evidence at the Committee’s invitation to the UK Parliament’s Treasury Select Committee, together with Professor Jagjit Chadha, Director, National Institute of Economic and Social Research and Paul Johnson, Director, Institute for Fiscal Studies. A verbatim report of the discussion can be found on the Select Committee’s …

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Newsnight – economists discuss the ‘graphs of 2011’

December 15, 2011 / Banking Crisis, British Banking, Consumer Debt, Debt, Democracy, Economic Orthodoxy, Financial Crisis, Financial Journalists, Government Borrowing, Greenspan, Interest Rates, Public Spending, UK Financial Crisis

This week I appeared on Newsnight with Gillian Tett of the FT and Louise Cooper of BGC Partners. We discussed our graphs of 2011 (see mine below) and wider questions around the global financial crisis this year – and how ecnomists and policy makers need to respond. Watch the show on iPlayer for the next …

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Reining in Public Debts or Challenging Democracies?

December 11, 2011 / Capital Flows, Central Banks, Consumer Debt, Credit, Credit Creation, Credit Crunch, Debt, Democracy, Economic Orthodoxy, Euroland, Greece, Inflation, Interest Rates, NEF, UK Financial Crisis

Last week I gave a talk in Brussels at a debate moderated by Pierre Defraigne, Executive Director of the Madariaga – College of Europe Foundation. It was A Citizen’s Controversy with Lars Feld, Professor of Economic Policy at the University of Freiburg and Member of the German Council of Economic Experts. Below is my slideshow …

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It’s not the public, but the private finance sector, stupid.

November 30, 2011 / Bank Bail-outs, Banking Crisis, British Banking, British Chancellor, Economic Orthodoxy, Financial Crisis, Fiscal Deficit, Government Borrowing, Money, Public Spending, Sovereign Insolvency, Uncategorized

The Autumn Statement reveals but one thing: the Chancellor and his advisers are both ill-advised and dangerously ill-prepared for the forthcoming prolonged Depression. (And if you think I exaggerate, let me remind you that 20 years after the Japanese debt bubble burst, Tokyo house prices are still falling, and the stock market is worth 60% less …

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My verdict on Ed Balls’ conference speech – apologies are not enough

September 26, 2011 / Anglo-American Financial Crisis, Bank Bail-outs, Bankers in Government, Banking Crisis, British Banking, Credit, Debt, Economic Orthodoxy, Finance Ministers, Financial Crisis, Government Borrowing, Neo-liberal Economics, Public Spending, UK Financial Crisis

Published in the Guardian Cif alongside responses from Jonathon Freedland and Sheila Lawlor: Ed Balls said sorry for Labour’s record on ultra-light-touch financial regulation, and that must be acknowledged. But apologies are just not enough. He and Ed Miliband must stop attacking his electoral base, “hardworking families”, many of whom are trades unionists. As Balls …

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