Debtors (and banks?) ‘crucified’ on inflation cross
The FT reports today on a debate economists are having with the Bank of England (BoE). To summarise: the Bank of England does not seem bothered by falling house prices; economists are. This is a very...
View ArticleAbandon Inflation Targeting
The Guardian, 12th July, 2008 In Ten tactics to brighten the gloom, the Guardian invited ten experts to give advice to the Chancellor and Prime Minister on how to lift the economic gloom – and to do it...
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Fannie and Freddie impact will be global, systemic
Fulfilling my duties as a citizen, I am now confined to the Southwark Crown Court as a juror, so have little time to update the blog. However the effective insolvency of two US government sponsored...
View ArticleRates: the BoE is not independent – it has a political mandate
Both the British Chancellor, Alastair Darling and the shadow Chancellor, George Osborne, have been on the radio this morning, resisting the idea that interest rates are political. Instead they have...
View ArticleNo, the Recession is Not Over
Ann Pettifor – 11th June 2009 – For the Guardian Online. http://www.guardian.co.uk/commentisfree/2009/jun/12/recession-economic-crisis A banker, Alan Clarke of BNP Paribas, citing a NIESR report,...
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An open letter to the people of Greece: restore the Drachma
Unemployment poster ‘jobless men keep going, we can’t take care of our own’, 1931. We write to encourage you – to urge you on in your resistance. In your defiance, you understand Greece is slave to...
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Eight fallacies in the LSE Keynes/Hayek debate
Tonight, Wednesday 3 August 2011 at 08.00pm BST (GMT +1), BBC Radio 4 will broadcast a debate which took place at the London School of Economics (LSE) on 26 July. This broadcast will be repeated on...
View ArticleReining in Public Debts or Challenging Democracies?
Last week I gave a talk in Brussels at a debate moderated by Pierre Defraigne, Executive Director of the Madariaga – College of Europe Foundation. It was A Citizen’s Controversy with Lars Feld,...
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