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. …
The following are my notes for a contribution to the debate on the post-Coronavirus economy held in the European Union’s parliament on 15 June, 2020. (The Parliament was largely empty as many MEPs were still shielding or self-solating from the pandemic. ) Other contributors included: Pierre-Olivier Gourinchas, Professor of Global Management, University of California, Berkeley, …
This article appeared on the Open Democracy site on 16 June 2020 On the weekend of 30 May Elon Musk – a billionaire with a net worth of $38billion – launched a rocket into space. This private venture was in contrast to President Kennedy’s ‘moonshot’ ambition of 1961-69 – one of the greatest mobilizations of …
A review of Richard Davies’s EXTREME ECONOMIES Survival, failure, future – lessons from the world’s limits 416pp. Bantam. £20 (paperback, £9.99). Published in the Times Literary Supplement, 17 April, 2020. Economists are beginning to worry over what comes after Covid-19. The pandemic is having a devastating impact on the global economy, and many expect a …
Building from ground zero: Doing business in disaster zones Read More »
In Britain as in the US, governments are tackling the corona virus by undertaking actions that force the closure or collapse of companies large and small. To compensate, they are stepping in with subsidies and bailouts. Because millions of livelihoods are at stake these interventions are welcome and necessary. But we must demand more: not …
We are living through terrifying times. The greatest threat to humanity stems not just from a virulent superbug, but as scary – the response to it. In Britain, as in the US, policy action is dictated by an ultra-nationalist government, which while pretending to “take back control” remains committed to a free-for-all for the owners …
Capital subordinated to the interests of labour (society) Read More »
13th March, 2020 Dear Mr. Bailey, Your predecessor in a speech in 2019 outlined the deficiencies of the International Monetary and Financial System (IMFS). The IMFS was cobbled together after the collapse of Bretton Woods and the 1971 Nixon Shock, and is governed effectively by Wall St. and the City of London – ‘citizens of …
My letter to the Governor of the Bank of England on his appointment. Read More »
This interview appeared in the Green European Journal in January, 2020.In early 2019, New York Representative Alexandria Ocasio-Cortez released her plan for a Green New Deal, skyrocketing the proposal for rapidly and fairly decarbonising the economy into the public conversation. The Green New Deal draws on a long history across the Atlantic. We asked Ann …
Investing in the Future: Why Europe Needs a Green New Deal Read More »
My review of Karl Polanyi’s The Great Transformation appeared in Nature magazine on 13 December, 2019. From the introduction to the editor’s choice of seven books: “From planetary change to geopolitical recalibrations, 2019 has been convulsive. The year saw millions worldwide protesting against governmental inaction on the cascading crises in the global environment. Anxiety over …
The market for dystopia – my choice of a book for our time. Read More »
Alarm bells are distress signals. As this election campaign reaches its climax the Financial Times registers high levels of investor distress as its wealthy readers panic over the possibility that real change is coming. The change they fear is not automation and AI. No, it’s the possibility that “If Labour come to power on this …
The City of London’s distress because real change may be coming… Read More »
