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Business and Society Economics Philosophy

What is economics for? Part 1

What is economics for? It’s often characterised as being about the choice between ‘guns or butter’. This choice is one not only about which we want to consume, but also about which we want to produce. Strangely, the dominant neoclassical paradigm attempts to render this a choice that need not be made, since it proposes […]

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Business and Society Economics Politics

Union Action Against the ‘Cuts’

This post was published on LabourList on 13th September 2010. The TUC conference starts today, and union leaders are declaring war on the coalition’s deficit-reduction strategy. Although some union leaders are talking about ‘civil disobedience’ campaigns and co-ordinated strikes, TUC general secretary Brendan Barber is taking a more cautious and constructive line. He wants a […]

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Philosophy Politics

Amartya Sen in Edinburgh

I had the chance to see the great economist and social philosopher Professor Amartya Sen at the Edinburgh Book Festival on the 29th of August. I use the word ‘see’ not to imply that I had a personal meeting with him, but because he actually said disappointingly little at the large public event in which […]

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Business and Society Economics

Martin Wolf and Land Value Tax

It was a pleasant surprise to find that the Financial Times chief economics commentator Martin Wolf has come out in favour of a Land Value Tax (an annual tax on the value of land owned), following a debate on the FT website. I have previously written a proposal for a Community Land Value Tax for […]

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Economics Politics

‘Europe is Dying’

If the financial sector can be rescued only by cutting back social spending on Social Security, health care and education, bolstered by more privatization sell-offs, is it worth the price? To sacrifice the economy in this way would violate most peoples’ social values of equity and fairness rooted deep in Enlightenment philosophy. Superb, if lengthy […]

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Economics Politics

Cameron’s Deceitful Cuts Rhetoric

David Cameron says he wants an apology from Labour for the state of the economy. But his approach to the budget deficit is either one of the most mendacious or one of the most ignorant ever made by a British Prime Minister. By using half-truths and gross over-simplifications Cameron has shifted the blame for the […]

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Business and Society

The Economics of Theft

A Church of England vicar has recently said it’s OK to steal from supermarkets if you’re hungry and desperate. This is against the law. Apart from the 8th commandment do we have any idea why? It’s annoying to be stolen from, certainly, but it’s also unpleasant and dangerous to be poor. The social, as opposed […]

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Business and Society

The Truth of Unequal Pay

There is at present an unprecedented wave of concern about pay disparities. We have the bankers’ bonuses, both main parties promising to limit high salaries in the UK public sector and a vigorous debate in Scotland about the high levels of pay of some Health Board managers. Last week, the New Economics Foundation (NEF) published a […]