Neo-liberal Economics - Ann Pettifor

For the Age of Economics podcast: The International Financial System

May 11, 2021 / Economic Orthodoxy, International Financial Architecture, International Financial System, Neo-liberal Economics, Uncategorized

The objectives of this project, The Age of Economics, are to shed light on the most salient challenges facing human civilization, explore the role of economics and the inner workings of capitalism, and heighten people’s awareness of both the economic system in which they live and work, and the role of economics in understanding this ever-changing system.

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Remembering John Weeks

August 8, 2020 / Austerity, Economic Orthodoxy, Fiscal Deficit, Labour Party, Neo-liberal Economics

Late last month, pioneering socialist economist John Weeks passed away. Ann Pettifor remembers her colleague and friend – and his contributions to left-wing politics. This piece first appeared in Tribune magazine on 08 August, 2020. Please note correction at the end of this piece. John Weeks, brilliant Left economist and public intellectual, would have been

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Globalisation, a pandemic and the US dollar

May 4, 2020 / Capital Flows, Credit Creation, Globalisation, International Financial Architecture, International Financial System, Neo-liberal Economics, Sovereign debt

As published on Progressive International on Monday, 11 May, 2020 She said, “My name’s Flo, and you’re on the right track But look here, daddy, I wear furs on my back So if you want to have fun in this man’s land Let Lincoln and Jackson start shaking hands I reached in my pocket, and

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Of bollygarchs, gombeens & spivs: welcome to the world of financial corruption

November 13, 2018 / Book Reviews, Globalisation, International Financial Architecture, International Financial System, Neo-liberal Economics

These reviews of books on financial corruption appeared in the Times Literary Supplement on 13 November, 2018. Ten years ago, just after the collapse of Lehman’s and as the Great Financial Crisis intensified, I complained in the Guardian about the globally coordinated 0.5% cut in interest rates by central bankers. It was too little too

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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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Why Krugman’s ‘Keynesianism’ is controversial

June 23, 2011 / Banking Crisis, Credit, Debt, Economic Orthodoxy, Financial Crisis, Money, Neo-liberal Economics

Some of our friends were irked by my observation this week that Paul Krugman is: “an extremely controversial figure for Keynes scholars. He champions a mainstream interpretation of Keynes’s work known as the neo-classical synthesis” Many rightly applaud him for using his platform at the New York Times to defend further fiscal stimulus in the

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Faux optimism & flawed economics

December 3, 2009 / Debt-deflation, Foreclosure, Neo-liberal Economics, UK Financial Crisis, Unemployment

December 1st, 2009 There was much huffing and puffing by the cheerleaders for premature economic recovery when the Office for National Statistics revealed that the UK was still in recession last week. These same ‘pied pipers’ tried to discredit the ONS’s previous factual announcements. Now the CBI has reported an ‘unexpected’ dip in sales in

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How globalisation ends: Debtonation Day, plus two

August 18, 2009 / Anglo-American Financial Crisis, Banking Crisis, British Banking, Central Banks, Credit Crunch, Debt, Financial Crisis, Globalisation, International Financial Architecture, Neo-liberal Economics, UK Financial Crisis, US Financial Crisis

From Open Democracy: August 13, 2009 “A single day, 9 August 2007, will go down in history as ‘Debtonation Day’ – the beginning of the end of the deregulation and privatisation of finance that marks the era of globalisation.” I wrote these words on 13 August 2007, in anticipation that the great stock-market collapse of

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Iceland – a country of proud, indebted people

May 13, 2009 / Anglo-American Financial Crisis, Banking Crisis, British Banking, Central Banks, Credit Crunch, Debt, Financial Crisis, Iceland, Neo-liberal Economics

Ann Pettifor – 12th May 2009 Have just returned from a flying visit to Iceland, where I was mightily impressed by the warmth and strength of the Icelandic character. Also struck by the pride Icelanders have in the way the financial crisis deepened and strengthened their democracy – leading to the ousting of a corrupt

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