Anti-economist Steve Keen on the UK election

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In the run up to the UK General Election, I interviewed self-professed ‘anti-economist’ Steve Keen on the state of the British economy, the chances of a Labour victory and the future of politics after Brexit. This is the first of a two part interview. WHITE: As the UK goes to vote, the economy is the key question and the recent past will likely shape how people may vote. How would you describe the state of the UK economy? KEEN: It’s recovered partially from the financial crisis, but because none of the people in authority know what actually caused the financial … Continue reading

EU: the neoliberal union

David Cameron has signalled that the long-awaited referendum on the UK’s membership of the European Union could be held early as the summer of 2016. This is big news for Britain, its Europhiles and its Eurosceptics. Not only does it demonstrate that the Conservative Party is still looking to settle old scores. The Tory government is looking to play both cards at once. Cameron does not really want a ‘Brexit’ – the portmanteau for a British exit from the EU. But he does want to increase the distance between Westminster and Brussels. Once again, the government is looking abroad to … Continue reading

The causes of the 2008 crash

It’s always worth looking back. We are seeing a new economic crisis burgeoning in China. The yuan has been devalued, the stock market has sunk deep and now interest rates are being slashed to try and boost lending. In this case, we should look back to 2008 – as it was the last crisis, and we’ve yet to recover from it – to see what forces led to the crash. To understand where we’re going we must understand where we have been already. According to David Harvey, the causes of the 2008 financial crisis can be divided into six major factors: 1. The … Continue reading