Tag Archives: Anglo-American financial crisis

The following article was written for the Progressive Economy Forum’s publication – Ten Years Since the Crash: Causes, Consequences and the Way Forward – circulated at Labour Party Conference in October, 2018. 13th September, 2018 To fix things we need to first tell ourselves the correct story about how we got here. Financialization is easily the least studied and least explored reason behind our inability to create shared prosperity – despite our being the richest and most successful...

The following is an interview with Yena Yoon – a financial journalist with Chosen Ilbo “the largest newspaper in South Korea” conducted on 12 February, 2018, but still relevant. What is the most remarkable change in financial market after 2008 global crisis do you see? Why do you think so? The most striking outcome from the global financial crisis of 2007-9 was that there was no structural change to the international financial architecture/system – the system that was at the heart of the...

On Wednesday, 19th September and again on 22nd September, the BBC broadcast an interview in which I participated. It was called Cassandras of the Crash. The programme is available on the BBC’s Radio 4 website, with the following introduction. “Ten years ago, in autumn 2008, the world watched as the biggest financial meltdown in history unfolded. The crash plunged the world into recession, lost millions of families their homes and its shadow still hangs over our politics today. And when the...

At the April Rethinking Economicsconference in Oslo  I pointed out that western politicians and economists are repeating policy errors of the 1930s. The pattern of a global financial crash, followed by austerity in Europe and the UK, led in those years to the rise of populism, authoritarianism and ultimately fascism. The scale of economic and political failures and missteps led in turn to a catastrophic world war. Today that pattern – of a global financial crash, austerity and a rise in...

April 18th, 2017 The production of money is ultimately the struggle for control over resources, wealth, people and our environment. But there is a surprising level of ignorance around how banks create money out of thin air and the benefits which flow from it. So on this programme we shine a much-needed light on who should get the privilege of creating our money. Host Ross Ashcroft is joined by the economist and author of the recent book The Production of Money, Ann Pettifor and founder...