Ann Pettifor

World Bank

Do Tax Revenues Finance Government Spending?

The Economist had a piece  on Britain’s tax base in its 25th January edition. It begins with a reference to Denis Healey’s speech to the 1973 Labour conference, in which he promised that tax increases  would be met with “howls of anguish” from everyone, not just the rich. As it happens, I have been reviewing the …

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Coming soon: another global financial crash? Capital mobility and the commodity mania

Tin produced at a Glencore plant in Vinto, Bolivia “Experience shows that when policies falter in managing capital flows, there is no limit to the damage that international finance can inflict on an economy.” Yilmaz Akyüz, “Capital Flows to Developing Countries in a Historical Perspective: Will the current Boom End with a Bust?” Today, as …

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No way to run an economy

Ann Pettifor: September 24, 2009 As world leaders meet in Pittsburgh and then Istanbul (for the World Bank and IMF meetings) expect much self-congratulation and back-slapping for having got the world through the post-Lehman crisis. But behind the cacophony of self-praise, watch out for three alarms flashing red: The escalating foreclosure and rising mortgage delinquency …

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