Ann Pettifor

Neo-liberal Economics

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

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

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 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

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

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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A debt spiral we could have avoided

24th October, 2008 The NS has published a short piece this week: “Economists simply would not accept that their model could fail“.  An introductory sentence is not mine: “Who would have predicted..that prudent Gordon Brown (would)  breach the EU cap on government spending?” Am writing to the NS to ask for a correction to be …

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Central Bankers Add to the Economic Malaise…

22nd October, 2008. I am dictating this piece down the phone from Budapest in Hungary where I have just arrived to deliver a lecture to the Ybl Club. My hosts were in a state of shock on arrival because the central bank of Hungary has just raised interest rates from 8.5% to 11.5%…