the current consensus on reform focuses only on technical fixes to improve the inner workings of financial markets. What is needed is political reform of economic governance priorities, which until now have overwhelmingly privileged financialised growth
Political economy after the end of history
Editorial // Daniel Leighton, Martin McIvor
This issue places the credit crunch in the wider context of mounting imbalances between capital and labour, public and private sectors, productivity and sustainability, speculation and investment.
From profit squeeze to wage squeeze
Feature // George Irvin
Reversing the profit squeeze meant hobbling the trade union movement to dampen the rise in real wages, and letting manufacturing stagnate or migrate while deregulating the financial sector.
A bail-out for working families?
Feature // Johnna Montgomerie
Slow income growth and the business community and government’s changing priorities towards its workforce and citizens contributed to rising debt levels and financial instability.
The future of public expenditure
Feature // Philip Arestis, Malcolm Sawyer
It must be accepted that while private demand remains weak, while investment expenditure has not recovered and while export demand falters, there is an urgent requirement for public expenditure.
Recovery without growth?
Feature // Tim Jackson
Returning to consumption growth is the default assumption of Keynesianism. But this is unsustainable. A different way of ensuring stability and maintaining employment is essential.
A new economic paradigm
Feature // Adam Lent
We are at a key social, cultural, political and economic turning point which could favour the progressive outlook. Yet this raises challenging questions about the policy framework.
Can Labour survive?
Roundtable // Steve Richards, Joy Johnson, Paul Thompson
Tody there is a distinct feeling that the Labour could no longer be the sole or even primary vehicle for social democratic politics in the twenty-first century. Can the Party survive? Should we care?
A critique of liberal republicanism
Commentary // Simon Parker
Since when was Britain’s primary problem a lack of personal independence? Our problems are really about the impact of unleashing personal freedom on our capacity for collective action.
Vince Cable: The Storm
Review // Rachel Reeves
Both Darling and Osborne would be well advised to take on board the best of Cable’s ideas.
Nick Davies and Darren Williams: Clear Red Water
Review // David Moon
Welsh Labour’s post-devolution policies as a progressive alternative to the Blair agenda.
