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The Bank of England’s new chief economist, Huw Pill, gave his first interview in the job to the Financial Times a few days ago. It will do little to confirm
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.
see films clips of authors introducing their chapters in PEF’s book , The Return of the State
see film clips of PEF Council members explaining the purpose of PEF’s new book, The Return of the State
“After decades of assault by state-shrinking ideologues, a collision of crises has revealed how only the power of good government can save us. Covid, climate catastrophe and Brexit crashed in on a public realm stripped bare by a decade of extreme austerity. Here all the best writers and thinkers on the good society show recovery is possible, with a radical rethink of all the old errors. Read this, and feel hope that things can change. ”
Polly Toynbee
Far from a problem, moderate rates of price increase signal a healthy, expanding economy.
To avert permanent economic damage during the worst slump for 300 years, the government has to provide emergency credit to business, guarantee loans, offer grants, defer tax and rate payments and directly pay the wages of furloughed workers
Preventing speculation and complementing fiscal policy provide strong motivations for monetization.
Carolina Alves and Farwa Sial discuss the efficiency of the UK’s economic response to the COVID-19 crisis and explain why it does not directly support households but companies
Professor Stephany Griffith-Jones and Dr Natalya Naqvi, write for the blog on the parties’ election pledges on National Investment Banks, making the case that such institutions ought to be pivotal in greening the economy.
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