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The following is a transcript of Dr. Johnna Montgomerie’s speech at the launch of the Progressive Economy Forum, in which she discusses the intimate link between ‘public’ and ‘private’ debt and its implications for the debate around austerity.
Our current economic policy framework leaves a vacuum of responsibility for delivering an economy in which people can flourish.
The following is a transcript of Patrick Allen’s speech at the launch of the Progressive Economy Forum in which he discusses his motivations for establishing the forum and the damage wreaked by austerity policies.
When change truly happens it at first strikes seasoned commentators as a pipe-dream; then undesirable; then ‘just about possible’ once the clamour for change becomes overwhelming. Finally change happens and the memories of the commentators change with it.
Patrick Allen explains why he founded the Progressive Economy Forum and why we need a progressive economics more than ever.
Creating a progressive British economy, an economic system fit for human life, requires at the least four fundamental reforms, whose purpose would be to restrict severely the economic and political power of the infamous 1%.
Hammond’s deficit-reduction framework is an edifice with no grounding in economics. By ruling out borrowing for capital spending, the government will be forced to either underinvest in the UK’s future or wreak further havoc on frontline public services.
The IMF’s Fiscal Monitor report perpetuates fictions about the dangers of government debt, while ignoring the impending private debt crisis and its link to austerity.
It’s amazing how quickly you can reimagine the economy and the policies that would go with it once you connect it with the outcomes you want to see.
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