Tag Archives: economic growth

Why liberals should embrace the Steady State Economy

One of the saddest things about the lurch to extremism and the right wing of the political spectrum over the past few years—and especially these last few months—has been that attention has been taken away from the significant problems with capitalism and its reliance on continued growth that the 2008 crash had exposed.

The Classical Economists, in particular Adam Smith and John Stuart Mill, had already theorised centuries ago that growth could not go on forever and that eventually states would enter the condition of being a “stationary state”.  John Stuart Mill wrote that the “increase of wealth is not boundless….the …

Posted in Op-eds | Also tagged and | 35 Comments

GDP above pre-crash level; strongest growth in G7

Today’s figures from the Office for National Statistics show growth of 0.8% in the second quarter of 2014, bringing UK GDP above the level it was before the 2008 crash.

With GDP 3.1% higher than a year earlier, the UK has the fastest growing economy in the G7.

Cheif Secretary to the Treasury, Danny Alexander comments

Today we are passing a major milestone on the long road back to full recovery. There is still a long way to go but Britain has recovered the economic ground lost under Labour and is forging ahead.

The main reason that we stepped forward to

Posted in News | Also tagged and | 64 Comments

Opinion: Sustainability, where do we go from here?

Economy-in-the-UKOur party is not addressing continued economic growth. Our leaders talk about growth solving our problems and recovering pre 2008 living standards, rather than about creating prosperity without growth. Growth through conspicuous consumption is still being sold as the road to recovery.

There are three real stumbling blocks:

  1. High living standards and rising prosperity extolled by almost all parties are only possible by expropriating the living standards of the world’s poorest.
  2. We depend heavily on the rest of the world, especially developing countries, for food and are still reducing farmland in the UK.
  3. Our energy supplies depend on unstable regimes in the Middle East and Russia and we have not begun to address self sufficiency in basic energy.
Posted in Op-eds | Also tagged | 52 Comments

Jonathan Portes writes: If you want to get serious about growth, you need to be positive about migration

On Monday, I did seven interviews on David Cameron’s immigration speech. Each time I’ve tried to get across one simple fact: that all the available evidence suggests that immigrants – and immigrants from the new EU member states, in particular – more than pay their way. That is, that they pay more in taxes than they cost in benefits and services; overall, from being a burden, they make it easier to finance our welfare state not harder.

It is that basic fact that all three party leaders should be explaining to their constituents. Instead, they seem to be engaged …

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Opinion: George Osborne doesn’t get it… again

This should have been a budget for growth, helping the UK economy to recover from the deepest and longest depression on record. George Osborne’s announcements on childcare, investment in industrial research and of course raising the personal income tax allowance to £10,000 are welcome steps in the right direction. They are all are clear examples of Liberal Democrat influence in the Coalition, not least the flagship move on the tax threshold. These measures, however, don’t go nearly far enough to support businesses starved of credit or households facing escalating living costs and squeezed incomes – where was …

Posted in Op-eds | Also tagged , and | 7 Comments

“Banzai! Banzai! Banzai!”*

Enough is enough. In the face of soaring national debt, the Liberal Democrat leader has this week called for the Central Bank to be made less independent to pave the way for more aggressive and unlimited monetary easing, a dramatic relaxation of the inflation target accompanied by a major public works programme and a supplementary budget.

Great news! The tragedy is that the Liberal Democrat leader in question is not Nick Clegg speaking on the eve of the Autumn Spending statement, but Shinzo Abe, Leader of the Japanese Liberal Democrats, launching his general election campaign which he is tipped to win. And the reaction of those dreaded markets? Positive – rising 4-5% as other world

Posted in Op-eds | Also tagged and | 15 Comments

Opinion: ‘Economic growth you can believe in’ – towards The British Growth Model.

Economic growth still eludes the Coalition. The development of a convincing analysis and programme for (fiscally sustainable) growth is essential for the second half of the Coalition’s life up to 2015. The Lib Dems must take a lead role in developing it.

Before the economic crisis started in 2007 the signs of ‘systemic financial sector failure’ were all around us. Few spotted them, however. Several simplistic economic tenets have since been jettisoned, as politicians have learned about the economic concept of ‘systemic financial failure’.

Posted in Op-eds | Also tagged | 9 Comments
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