Writing Worth Reading
Writing Worth Reading
"Recession has delivered the coup de grace to a quarter century of manufacturing decline. Manchester is by no means the worst hit of English cities, but its northern suburbs are Detroit UK." A smarter growth plan is needed
"Two arrogant posh boys who don't know the price of milk." So said a party colleague of David Cameron and George Osborne. And, with the economy falling back in recession, it's a label threatening to stick
Why has the US recovered from financial crisis faster and stronger than the UK? Shocks to both economies were of a similar scale, and both central banks pursued similar policies. Yet there were crucial diferences (11-page PDF)
How the British Treasury puts the annual Budget together. A bit like a steeplechase. Any viable proposal can be a starter, even a write-in from the public. But it has to clear many fences before it finishes in the speech
"The privatisations are joining up. First gas. Then telecoms, oil, electricity, public housing, water, the railways, the airports. We are being made tenants in our own land, defined by the string of private fees we pay to exist"
"To save western capitalism we need to move away from a 'national champion' model towards a 'local champion' model." Government has to end its cosy relationship with big business. Let's see a high street with 30 banks, not just five
"If capitalism is to deliver the high levels of innovation and investment that propel wealth generation, it cannot deal with unknowable risk by itself. It needs government to share the risk." The question is how? Here are some ideas
"Who wins when government makes up the shortfall between the poverty pay a shelf-packer earns and what he or she needs to live on?" Not the worker, not the taxpayer. The bizarre economics benefit just two – the corporate and its CEO
Devastating on Britain's metamorphosis to a "bankocracy". Banks contribute far less in taxes, jobs than manufacturing. And their lending was never that widespread. Why then are they suddenly so vital to the "national interest"?
Commentary on Labour leader argues Britain entered new era with 2008 financial collapse, as it did in mid-70s with oil price shock. Thatcherism emerged victorious then. So far only Miliband is articulating a new vision for today
On proposed UK banking reforms. "Maybe we would do better if we stopped thinking about making banks do what they currently do a bit better and started imagining what kind of financial system will best meet consumer needs in 2019"
UK faces a growth crisis. Any solution? Why not try lending direct to small businesses? Then government's money would go to entrepreneurs – the makers – rather than to bankers. Would likely stimulate economy and be wildly popular
