Growth & innovation allowed people to escape cycles of boom and bust

Economic growth has freed billions from poverty in the past two decades and made our lives far healthier and longer, resulting in the unfettered pursuit of growth  defining economic life around the world. However, this prosperity has come at an enormous price: deepening inequalities, destabilizing technologies, environmental destruction and climate change. Daniel Susskind, economist, argues that too few people understand growth and many in our era of sluggish productivity, the worry is slowing growth – in the UK, Europe, China and elsewhere – and reversing this stagnation is the goal of every politician. Some eco-warriors think there’s too much of … Continue reading Growth & innovation allowed people to escape cycles of boom and bust

Currency must be defended from democratic interference

After the 2008 financial crisis, when the critical attention shifted from the economy to the most fundamental feature of all market economies, money, 2022, is turning out to be the year that puts the politics back into the monetary policy, with the impending fight for the next Conservative party leader between Rishi Sunak and Liz Truss, “to reduce the tax now or later”.  For over the last 30 years inflation was dormant despite the tremors of the tech crash and the global financial crisis, even the exceptional monetary policy implemented after 2008, failed to provoke any real political controversy. The … Continue reading Currency must be defended from democratic interference