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The focus of economic policy should be on maintaining a high, sustainable level of employment. This is correct theoretically, practically, and socially. It counterbalances the capitalist market system’s tendency not to create a high level of employment.
The coronavirus pandemic has worsened inequalities and the measures taken by government, with tacit or explicit support of Labour and the TUC, have increased inequalities further.
Sue Konzelmann writes on Boris Johnson’s Economic Recovery Plan. Focusing almost exclusively on the usual sectors – property, construction and finance – it’s likely to make an already unbalanced economy even more lopsided.
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
Given that we have no ethically accepted principle of choosing between who is to live and who to die, we should take exceptional pains to ensure that we do not face acute shortages of life-preserving equipment.
“Come the new year, we will have yet another new government, which will be faced – amongst other things – with the consequences of a decade’s worth of cuts to services that, one way or another, the majority of us rely on.”
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.
This letter from 13 PEF Council members, on the prospect of free, publicly-owned broadband, was published in the Guardian.
Richard Murphy, PEF Council Member and member of the Green New Deal Group argues that Labour’s commitments to a £250bn “green transformation fund” is fiscally responsible.
This article reviews some of the issues concerning industrial policy that were aired in the interwar period. The debate needs to be revived, revisited and, where appropriate, revised to suit the present day, but on basic principles there is much to learn from the interwar discussions.
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