by Crawford Spence* There is plenty of work out there on financial intermediaries. Most of this can be found in finance or economics journals and displays little evidence of its authors having spent any time with financial intermediaries at all. Rather, studies looking at asset managers or investment bankers tend to be carried out at […]
Finance
15th of May 2025 As John Lanchester recently remarked (LRB 27 April 2025) ‘However little money there is for anything else, there’s always enough money for a war’. The failures of neoliberal economics threaten all kinds of political backlashes, some of which have already been seen in the nationalist turn of international relations. ‘Military Keynesianism’ … Continue reading Military Keynesianism?
This trade war is really a fight for the future of the dollar. 16/04/2025 Trump’s tariff bombardment has torn up the rules by which Western elites have lived for the last 35 years: the rules of a globalising economy under the benign guardianship of a Pax Americana. He is openly challenging opinion makers to change … Continue reading New Statesman: Could John Maynard Keynes fix Trump’s tariff crisis?
The big news on house insurance this week was the response of the insurance industry’s peak body to a parliamentary committee’s extensive criticisms of its treatment of people claiming on their policies after the massive floods of 2022. The Insurance Council of Australia accepted some of the committee’s recommendations, announced an “industry action plan” and Continue reading »
Climate crisis and environmental degradation is an undeniable reality for most central banks around the world. What does the most recent central bank coalition, the Network for Greening the Financial System (NGFS), bring to the conversation?
The post Green central banking appeared first on Progress in Political Economy (PPE).
11th of November 2024 My Lords, there are many things to welcome in this Budget, particularly on the spending side. I am less keen on some of the tax proposals, which seem to be mean-minded and counterproductive, such as the tax on knowledge. The spending commitments are important because they reverse the disastrous policy of … Continue reading Speech in the House of Lords – Autumn Budget 2024
Politics, Inequality and the Australian Welfare State After Liberalisation
Speaker: Ben Spies-Butcher
Thursday 7 November 2024, 12-1:30pm
Room 441, Social Sciences Building (A02), The University of Sydney
Neoliberalism has transformed work, welfare and democracy. However, its impacts, and its future, are more complex than we often imagine. Alongside growing inequality, social spending has been rising. This seminar draws on Ben’s recent book to ask how we understand this contradictory politics and what opportunities exist to create a more equal society. It argues an older welfare state politics, driven by the power of industrial labour, is giving way to political contests led by workers within the welfare state itself. Advancing more equal social policy, though, requires new forms of statecraft, or ways of doing policy, as well as new models of organising.
“”My Lords, I was not on the committee and therefore would like to allow myself a few mild criticisms of a very thought-provoking report. I will touch on three aspects of its central problem: “Who watches the watchdogs?” First, a bit of history might be helpful. In its present form, this challenge was created by … Continue reading Speech in the House of Lords on Watchdogs 9th of September
Project Syndicate 18th of September, 2024 “Shortly after taking office, the United Kingdom’s new Labour government announced the discovery of a massive shortfall in public finances. While much of the political debate has centered on the size of this fiscal hole, the real culprit is the set of arbitrary rules that British governments have imposed on themselves … Continue reading Britain’s Illusory Fiscal Black Hole
The Spectator, 13 January 2024 Monetarism, with which his name is associated, has long defined economic policy. But what would Friedman have made of the banking collapse, so soon after his death in 2006? The Keynesian economist Nicholas Kaldor called Milton Friedman one of the two most evil men of the 20th century. (Friedman was … Continue reading Milton Friedman – economic visionary or scourge of the world?