Prime, Policy Research in Macroeconomics

Till now, I have supported much of what Chancellor Rishi Sunak has put in place, as measures to help the economy through the pandemic.  The furlough scheme has proved its worth. But today’s measures are inadequate and disappointing.  The new Job Support Scheme, under which the government will pay some 22% of the wages of employees...

Till now, I have supported much of what Chancellor Rishi Sunak has put in place, as measures to help the economy through the pandemic.  The furlough scheme has proved its worth. But today’s measures are inadequate and disappointing.  The new Job Support Scheme, under which the government will pay some 22% of the wages of employees who work at least one third of their usual hours.  This compares with the 60% of wages to be paid by the government in October, the last month of the furlough...

Nigel Doggett and Mike Davis of The Chartist magazine spoke to Ann Pettifor about why a Green New Deal is central to our recoveryPublished 20 September, 2020. How do you see the GND playing out against the Covid crisis?There are two roads to travel. One is the progressive one in which our leaders wake up to the scale of the climate threat and decide they are going to prepare. There are signs of that happening: little things like the French deciding to abolish burners in...

Nigel Doggett and Mike Davis of The Chartist magazine spoke to Ann Pettifor about why a Green New Deal is central to our recovery Published 20 September, 2020. How do you see the GND playing out against the Covid crisis? There are two roads to travel. One is the progressive one in which our leaders wake up to the scale of the climate threat and decide they are going to prepare. There are signs of that happening: little things like the French deciding to abolish burners in Paris streets. But...

September 4, 2020The following article appeared on Progressive Post, the website of the Foundation of Progressive European Studies (FEPS)Today’s capitalism cannot tackle climate breakdown and cannot prevent the loss of biodiversity. It considers work as a cost to be minimised, to the detriment of the economy and the social meaning of work.High rates of return on capital (interest) require ever-rising extraction of the earth’s finite assets and the felling of its biodiverse...

The following article appeared on Progressive Post, the website of the Foundation of Progressive European Studies (FEPS) Today’s capitalism cannot tackle climate breakdown and cannot prevent the loss of biodiversity. It considers work as a cost to be minimised, to the detriment of the economy and the social meaning of work. High rates of return on capital (interest) require ever-rising extraction of the earth’s finite assets and the felling of its biodiverse ecosystem. Nature is crowded out...

The government wants us to return to our office workplaces in the cities.   The FT tells us:“The government will [this] week launch a media campaign to encourage more employees back to their workplaces amid growing concern in Downing Street over the rising number of job losses at service businesses in city centres that are reeling...

The government wants us to return to our office workplaces in the cities.   The FT tells us: “The government will [this] week launch a media campaign to encourage more employees back to their workplaces amid growing concern in Downing Street over the rising number of job losses at service businesses in city centres that are reeling from a lack of customers. And from Sky News (Aug 20): “Just one in six workers have gone back to work in cities this summer after companies and staff ignored...

“Financial Assets = Liabilities.” It’s one of the great accounting-identity truisms of economic understanding — both among traditional, mainstream economists, and even (especially) among many heterodox, “accounting based” practitioners. It seems obvious: When a company issues and sells bonds, it posts a liability to its balance sheet; the bond buyers hold financial assets on theirs.[1] The problem is, that truism isn’t even close to true. The most obvious example is corporate...

Steve Roth ([email protected]) is a serial entrepreneur and the publisher of Evonomics.com. T. Sabri Öncü ([email protected]) is an economist based in İstanbul, Turkey. A slightly edited version of this article first appeared in the Indian journal, Economic and Political Weekly on 11 July 2020. “Financial Assets = Liabilities.” It’s one of the great accounting-identity truisms of economic understanding — both among traditional, mainstream...