Archive for the 'economics' Category

It doesn’t have to be like this: Why capitalism needs to change, and fast

Where has capitalism gone wrong? In Too much stuff, Kozo Yamamura upends conventional capitalist wisdom to provide a new approach. Read about his new perspective on capitalism’s “sickness.”

kozo_portrait

Kozo Yamamura 1934 – 2017

Over the past three decades, the financial and environmental prospects of the UK, US, Japan and Europe, have slowly but surely been moving in a calamitous direction because of ill-conceived “easy money” policies pursued by those in power, from governments and banks through to multinational corporations and the advertising industry.

The result: a self-perpetuating cycle of stagnating economies, social unrest and political upheaval.

The advanced economies of the world are sick and democracy is floundering. Capitalism as we know it has created a climate where extremist, anti-EU political parties are flourishing by tapping into widespread dissatisfaction with the way things are.

They’re right in one sense – the system does need to change, because if it doesn’t, “what becomes the issue will not be the survival of our system, but the survival of our civilizations”.

“The advanced economies are sick, and the environment is getting sicker.”

Continue reading ‘It doesn’t have to be like this: Why capitalism needs to change, and fast’

What does the post-Brexit future look like?

Janice Morphet, author of Beyond Brexit, out today, warns that without due consideration of all the challenges that lie ahead, Brexit poses a real threat to UK economic and social stability.

In this article Professor Morphet looks ahead to what the coming months could bring, and suggests priorities going forward.

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Janice Morphet

“As Brexit is a negotiation, it is a dynamic process.

The Prime Minister took this essential position last July and spent her first six months in an enigmatic ‘Brexit means Brexit’ mode.

This allowed some space for the machinery of government to be realigned and the new departments to lead on Brexit – International Trade and Exiting the EU – to be established. But what does the future hold?

The loss of economic security

In terms of economic security, the effects of Brexit on the UK economy have started to pile up – the loss in the value of the pound in the first days after the referendum equated to the value of UK contributions to the EU for fifteen years.

“The loss in the value of the pound in the first days after the referendum equated to the value of UK contributions to the EU for fifteen years.”

Deals have been offered to Nissan in Sunderland by the government which have appeared to transgress state aid rules, although more recently the company has suggested changing its mind about remaining in the UK. Asked about investment in the UK, a Chinese source commented that, before the referendum, the UK was a door to the EU and now it is only a door.

Continue reading ‘What does the post-Brexit future look like?’

Coming soon… Creative Destruction: how to start an economic renaissance by Phil Mullan

Phil Mullan discusses his new book, Creative Destruction, out in March.

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Phil Mullan


The mature economies have been stuck in a long, contained depression since the 1970s.

The pressing question that arises is not why investment and productivity have been so weak, important though that is. Rather, it is whether we are hitting the limits of effectively muddling through this dismal reality.

The financial crash of 2008 was the first significant indicator that sustaining reasonable living standards could no longer rely on an ever-expanding financialised debt economy. The subsequent recession was one of the sharpest since the 1930s but thankfully the system’s collapse was avoided. Can we expect to be as fortunate when today’s bubbles burst?

This book explores the interaction between the forces of productive decay and the sources of resilience that have characterised Western economic history for almost half a century. In particular, it highlights the consequences of state interventions that have sought economic stabilisation, but have unintentionally entrenched economic stagnation. Governments have brought about a corporate dependency that is as debilitating for the economy as the welfare dependency they have created for individuals.

“A zombie economy: an economy dead in productive dynamism that is being propped up to ensure the semblance of life.”

Continue reading ‘Coming soon… Creative Destruction: how to start an economic renaissance by Phil Mullan’


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