Economic Policy

Five minutes with Steve Keen: “The better of two bad policies is the stimulus approach”

Steve Keen was one of the few economists who publicly predicted the Great Recession that still troubles developed economies. In this interview with Joel Suss, he explains how he came to that conclusion, offers his view on UK economic policy, and presents his own policy ideas for ending speculative, risky behavior that created the debt burden to begin with. Can you explain […]

The TaxPayers’ Alliance and Institute of Directors have just produced a new report on the British Tax System. Some parts are good, some are plain silly

Tim Leunig reviews a new lobbying report which has garnered media attention in calling for reform of the tax system.   Let’s get the silliness out of the way first. The report wants the tax-to-GDP ratio to be 33 per cent, and marginal tax rates (including employers’ national insurance) no higher than 30 per cent. They believe this will spur growth. The […]

Ahead of a week of summits, campaigners will be making the case for a Europe-wide financial transactions tax

Last year, the European Commission proposed the introduction of a financial transactions tax, which could raise up to €60 billion annually. While many European economies are likely to introduce such a tax, some, such as the UK are opposed. Ahead of a week of important summits in Europe and elsewhere, Owen Tudor argues that this is the perfect time for pro-‘Robin Hood […]

May 19th, 2012|Europp|0 Comments|

Don’t take a trip on this Double Dip

The British economy is now officially in a double dip recession. John Van Reenen looks at how we got here and argues that the ideologically motivated austerity programme has failed.  The Office of National Statistics announced yesterday that the British economy shrank in the first quarter of this year, just like it did in the last three months of 2011. The fall […]

Northern prosperity will increase national prosperity but a comprehensive economic strategy is needed to address structural constraints

The North of England needs more than elected mayors to unleash its economic potential. Graeme Henderson argues the playing field must be levelled before the North’s potential to lead the UK’s economic recovery is actualised. On 3 May, Liverpool and Salford will get their first directly elected mayors and many other English cities decide on the same date whether to […]

Ignoring the role of private debt in an economy is like driving without accounting for your blind-spot.

Steve Keen argues that neoclassical economists have a blind-spot when it comes to the role of private debt in macroeconomics. They should be worried by the incredibly high UK levels and be seeking ways to avoid the next crash. As a car driver, you have surely had the experience of changing lanes and being beeped by a car with which […]

Five minutes with Mark Blyth: “Turn it into things people can understand, let go of the academese, and people will engage”

Mark Blyth became the accidental star of the political blogosphere last year when he appeared in a video promoting the key message behind his upcoming book ‘Austerity: The History of a Dangerous Idea’. Here he explains why being unreadable helps economists get their message across, how fan and hate mail have become part of his professional life and how his latest […]

March 10th, 2012|Impact, Mark Blyth|2 Comments|

With the budget on the horizon, the government should take the opportunity to create a fairer and more equal tax system for pensioners

The British government is rightly committed to raising the tax allowance argues Tim Leunig. However, more could be done to ensure that affluent pensioners are not unfairly benefitting from the tax free lump sum and the national insurance exemption options. Given that the tax allowance is going up, the government should revisit the additional tax allowance given to pensioners. This […]