Share prices are going up. Profits are increasing. Top bosses' pay is soaring. And child poverty is rising almost as fast.
Social and Economic Policy
Andrew Gamble is professor of politics at Cambridge University, and author of the major left-wing analysis of Thatcherism, The Free Economy and the Strong State.
The vocal Tories at the Daily Mail were pleased about chancellor George Osborne’s 20 March budget.
The curve of Britain’s economic output shows a sharp decline from mid-2008 to mid-2009. Then from mid-2009 to late 2010 there was a slight recovery.
According to Labour leader Ed Miliband, speaking on 14 February: “Over the last three decades or so, less than 15 pence of every additional pound Britain has made has gone to an entire half of the population... 24 pence in every pound has gone to the top 1 per cent of earners”.
Recently, I co-authored a book on online campaigning for trade unions and self-published it using a print-on-demand service called CreateSpace.
Law professor Sol Picciotto has proposed a new approach to stop tax avoidance by transnational corporations (TNCs).
The Financial Times reports that one European state has broken ranks with the neo-liberal consensus and started Keynesian policies of extra state spending rather than cuts to deal with the crisis.
Iain Duncan Smith has announced that the government is considering capping children-related benefits at two children, essentially telling poor families to stop breeding.
As Martin Wolf, chief economics writer of the big-business Financial Times, has noted: “banks, as presently constituted and managed, cannot be trusted to perform any publicly important function”.