Governments As Banks

The G20 summit seems certain to demonstrate that for most world leaders the conversion to Keynesian economics is no more than skin-deep. The global crisis may have compelled some re-assessment of the “free” market doctrines previously thought to be unchallengeable, but many of those attending the summit are reluctant to accept the responsibilities that a […]

Lessons from the Crisis

As the global crisis unfolds, the great gurus of the world economy – those who have presided over its fortunes for much of the last two or three decades – have largely ducked for cover. Some – like Alan Greenspan – have had the courage to admit that there was a “flaw” in his thinking. […]

Yes, There Is An Alternative

The horror stories keep coming but even so it is doubtful whether we have yet grasped the scale and seriousness of what is happening in the global economy. And, as we stand transfixed by the need to surmount the current crisis, few will lift their eyes to the longer-term implications of what is sure to […]

The Beginning of the End of the Road

Let’s hear it, for once, for our politicians. It’s not every country that has a Finance Minister with the good sense to recognise a policy dead-end when he sees one and with the courage to try to do something about it. The mere prospect of a discussion about a mortgage interest levy is enough to […]