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Tag Archives: UK

How does Labour rebuild trust on the economy? Listen to the public

This article was cross-posted from Labour List where it was published on the 14th January, 2021.Labour has a steep hill to climb to regain the public’s confidence that it can be trusted to manage the economy. I get that. And Labour has to recover from a catastrophic electoral defeat – a defeat that took place under the leadership of the left.So, given past failures, how does Labour rebuild confidence? The first requirement, in my view, is for Labour to listen to, and trust the public. Their...

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How does Labour rebuild trust on the economy? Listen to the public

This article was cross-posted from Labour List where it was published on the 14th January, 2021. Labour has a steep hill to climb to regain the public’s confidence that it can be trusted to manage the economy. I get that. And Labour has to recover from a catastrophic electoral defeat – a defeat that took place under the leadership of the left. So, given past failures, how does Labour rebuild confidence? The first requirement, in my view, is for Labour to listen to, and trust the public....

Read More »

How does Labour rebuild trust on the economy? Listen to the public

This article was cross-posted from Labour List where it was published on the 14th January, 2021.Labour has a steep hill to climb to regain the public’s confidence that it can be trusted to manage the economy. I get that. And Labour has to recover from a catastrophic electoral defeat – a defeat that took place under the leadership of the left.So, given past failures, how does Labour rebuild confidence? The first requirement, in my view, is for Labour to listen to, and trust the public. Their...

Read More »

The spatial hole in economics: the Regions bite back

Over the last decade the relationship between mainstream economics and serious spatial analysis – always sporadic – has become even more tenuous. What lies ahead for the British economy over the next ten years? Here, relentless centralisation of Westminster politics and Whitehall practice has been matched by a similar trend in much of the economics profession.The result of this insensitivity to the geographically uneven development of the economy has been an entirely predictable political...

Read More »

The spatial hole in economics: the Regions bite back

Over the last decade the relationship between mainstream economics and serious spatial analysis – always sporadic – has become even more tenuous. What lies ahead for the British economy over the next ten years? Here, relentless centralisation of Westminster politics and Whitehall practice has been matched by a similar trend in much of the economics profession. The result of this insensitivity to the geographically uneven development of the economy has been an entirely predictable political...

Read More »

The spatial hole in economics: the Regions bite back

Over the last decade the relationship between mainstream economics and serious spatial analysis – always sporadic – has become even more tenuous. What lies ahead for the British economy over the next ten years? Here, relentless centralisation of Westminster politics and Whitehall practice has been matched by a similar trend in much of the economics profession.The result of this insensitivity to the geographically uneven development of the economy has been an entirely predictable political...

Read More »

Looking ahead after COVID: what role for the state?

As part of this series celebrating PRIME’s tenth anniversary, we are looking forward to the next ten years. This contribution by Laurie Macfarlane looks at the future role of the state. ——- John Maynard Keynes famously wrote: ​“Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.” For the past 40 years, society has been the slave of a not-yet-defunct set of economic ideas. These ideas have shaped the way...

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Austerity: a symptom of globalised rentier capitalism’s failure

Even while the economy is recast for today’s pandemic on the back of the dismal failures of the past decade, austerity is already rearing its ugly head. At one level there must be politics here. The public must not be allowed to think that socialising the economy to meet a pandemic means the economy might be socialised when the pandemic is over. Likewise, obsessing about excessive debt means the greatly more pressing and more dangerous reality of deficient expenditure is side-lined. But it’s...

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UK GDP – the Q2 close-down, and the distorting effect of ‘imputed rental’

On Wednesday (30 September) the Office for National Statistics published its second estimate of GDP for the second quarter of 2020, April to June.  The very marginally positive news is that the fall, between Q1 and Q2, was reduced from 20.4% to 19.8%.  Since this was still the largest recorded quarterly fall since records commence in 1955, this is hardly a cause for jubilation – and even less so since the Q1 drop was raised from -2.2% to -2.5%. As we discuss below, the position would...

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UK GDP – the Q2 close-down, and the distorting effect of ‘imputed rental’

On Wednesday (30 September) the Office for National Statistics published its second estimate of GDP for the second quarter of 2020, April to June.  The very marginally positive news is that the fall, between Q1 and Q2, was reduced from 20.4% to 19.8%.  Since this was still the largest recorded quarterly fall since records commence in 1955, this is...

Read More »