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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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