Ann Pettifor: Debtonation

From the March 2016 Preface to The Economic Consequences of Mr Osborne By Ann Pettifor, Professor Victoria Chick and Geoff Tily  … when sustained, fiscal consolidation increases rather than reduces the public debt ratio and is in general associated with adverse macroeconomic conditions.  ‘Economic Consequences of Mr Osborne’, June 2010 Having missed the genuine threat of the private debt bubble, the economics profession misread disastrously the increase in public debt. In their 2009 This Time...

The following is a letter by Professor John Weeks and Ann Pettifor, published today, 15th March 2016 in The Guardian.  Andrew Harrop’s article on John McDonnell’s public borrowing for investment points out its improvement on the chancellor’s deficit obsession (John McDonnell’s new fiscal rule is strong, but it’s no election winner, theguardian.com, 11 March). Of particular concern is George Osborne’s determination to “balance the books” by cutting current spending on the disabled. To...

People's Philosophy, Politics and Economics Presents: February 23 2016, The Round Chapel, Hackney. "A Hitchhiker's Guide to Economics" How did we get here? And how can we get out of this mess? Hitch a ride with us through the topsy-turvy world of contemporary economics – no prior knowledge required! 2:45 Introduction from People's PPE Organisers 7:35 Ann Pettifor 22:20 Yanis Varoufakis 39:20 Mufti Abdul Rahman Question and Answers 47:00 "According to the government, the UK is...

Ann Pettifor responds to a question on how she would advise Jeremy Corbyn. Ann Pettifor is a member of Labour's advisory council - an independent group of Economic advisors including Joseph Stiglitz and Thomas Picketty, who advise the Shadow Chancellor. People's Philosophy, Politics and Economics Lecture: "A Hitchhiker's Guide to Economics" February 23 2016, The Round Chapel, Hackney. The full event can be viewed here: https://youtu.be/FDP2Otc49fQ Keep in touch! Web:...

Ann Pettifor's brilliant address, explaining the galaxy of the financial institutions and the causes of the Banking crisis of 2008. The full event can be found here: https://youtu.be/FDP2Otc49fQ Keep in touch! Web: http://www.peoplesppe.com Tweet: https://twitter.com/peoplesppe Facebook: https://facebook.com/peoplesppe

OECD secretary general Jose Angel Gurria, US Federal Reserve chair Janet Yellen and British chancellor of the exchequer George Osborne chat during a G20 photocall. Photograph: Rolex Dela Pena/AFP/Getty Images “For the proposition that supply creates its own demand, I shallsubstitute the proposition that expenditure  creates  its  own income”   JM Keynes Collected Writings, Volume  XXIX,  p.  81 G20 Finance Ministers met in Huangzhou, China recently and refused appeals from both the IMF and...

Christian Bale as perspicacious hedge-fund manager Michael Barry in The Big Short (2015) First published (as a slightly edited version of the original, below) in the BFI Sight and Sound Magazine, 28 February 2016. As this goes to press, global capital markets appear to be stabilizing after another period of intense, and scary stock market volatility. This set the context for the arrival in Britain of Adam McKay’s The Big Short – a film about the American sub-prime mortgage meltdown, based on...

Ann Pettifor talking about the next crisis that is coming at the Right2Change conference in The Mansion House. She looks at what finance capital is about to do to all of our lives now that the public services have been exposed to the next crash. Ann Pettifor is a UK-based economist, director of Policy Research in Macroeconomics (PRIME), an honorary research fellow at the Political Economy Research Centre at City University, London (CITYPERC) and a fellow of the New Economics Foundation,...

January 27th, 2016 On Thursday 21st January, Ann Pettifor appeared on Al Jazeera, along with Vicky Pryce, chief economic adviser at The Centre for Economic and Business Research, and Anastasia Nesvetailova, director of the City Political Economy Research Centre at City University in London. Presenter Nick Clark asked them to discuss why the global economic system lurches from one financial crisis to another, and whether another crisis is imminent. Watch the full discussion here. 

From BBC Radio 4 World at One