
The UK has embraced the big state — but lacks a vision for it
This week the UK Chancellor Rishi Sunak delivered the 2021 Autumn Budget in the House of Commons. The Budget confirms that this government has accepted a permanently larger role for
Crossbench peer and Emeritus Professor of Political Economy at Warwick University
Political economist, author and public speaker.
Head of Finance and Macroeconomics at the UCL Institute for Innovation and Public Purpose.
Co-chair of the Purposeful Company. Principal Hertford College Oxford 2015- 2020, Co-founder of the Big Innovation Centre
Professor of Economics and Finance at the School of Oriental and African Studies
Reader in Management at Birkbeck, University of London
Senior Economist at the TUC
Crossbench peer and Emeritus Professor of Political Economy at Warwick University
Political economist, author and public speaker.
Head of Finance and Macroeconomics at the UCL Institute for Innovation and Public Purpose.
Co-chair of the Purposeful Company. Principal Hertford College Oxford 2015- 2020, Co-founder of the Big Innovation Centre
Professor of Economics and Finance at the School of Oriental and African Studies
Reader in Management at Birkbeck, University of London
Senior Economist at the TUC
This week the UK Chancellor Rishi Sunak delivered the 2021 Autumn Budget in the House of Commons. The Budget confirms that this government has accepted a permanently larger role for
Quantitative easing risks generating its own boom-and-bust cycles, and can thus be seen as an example of state-created financial instability. Governments must abandon the fiction that central banks create money independently from government, and must themselves spend the money created at their behest.
PEF Council member Robert Skidelsky advocates federal job guarantees and ‘compensated free trade’ to avoid inflation in the Biden plan
The paper outlines the case for fiscal policy to regain a permanent status of primacy in modern macroeconomic management, beyond the pandemic emergency and makes the case for public job programmes
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