Myths, Politicians and Money

My new book, Myths, Politicians and Money, was recently published in London by Palgrave Macmillan to coincide with the Labour Party conference in Brighton.  It has been very well received and reviewed, and has attracted a good deal of attention. It is a comprehensive account of what I think has gone wrong for Western democracies […]

Myths, Politicians and Money

In 1989, the American political philosopher Francis Fukuyama published a famous essay which he called “The End of History”. In celebrating what he believed to be the more or less permanent triumph of liberal democracy, he saw the “free market” and democracy as not only compatible but as mutually supportive. The market was in his […]

Orthodoxy – Or Leadership?

My decision to leave British politics in 1994 and return to New Zealand reflected both the pull of my home country and my failure to convince my colleagues in the British Labour Party that they were embarking on a mistaken course. I had become increasingly despairing of the determination of those who eventually became New […]

What the Meltdown Tells Us About Markets

The economic fallout from the global crisis has been immediate, extensive and severe. It has been felt in the shock delivered to our financial institutions, in the balance sheets of our major corporations, in growth rates around the world. More damagingly still, it will take its toll far from the City of London or Wall […]

Not In My Name

Those, like me (and almost everyone I know in the Labour Party), who have been critical over the years of New Labour and its record in government might have expected that the passage of time would bring with it a kinder judgment. And in my case, in particular, it might have been thought that – […]

Politics Not Economics

As Keynes’ biographer, Professor Robert Skidelsky, says in the British Sunday papers, “it is not surprising that the old Keynesian tool kit is being ransacked” in response to the global economic crisis. After decades of being assured that “there is no alternative”, and that Keynesian economics is a dead duck, we now find that Keynesian […]


As the world economy threatens meltdown, Alan Greenspan – who, as Chairman of the Federal Reserve Bank, had presided over its fortunes from 1987 to 2006 – expressed himself as being taken aback by what he described as a once-in-a-century crisis. We were all invited, by implication, to join in his bewilderment at the apparently […]

Global Warming and Market Failure

The Stern Report draws some alarming conclusions from the growing scientific consensus that global warming is a fact and is caused by greenhouse gas emissions arising as a result of industrial and other man-made processes. The Report demands an immediate and effective response from governments around the world. It also prompts a prior question. Why […]