I spoke at this year’s Disruptive Innovation Festival about learning from the financial crisis, and building an economy that is fit for purpose for the 21st century.
'Rethinking the Economics of Land and Housing' has been included in the Financial Times Best Economics Books of 2017. The full list, compiled by Chief Economics Commentator Martin Wolf, is available on the Financial Times website. "The removal of land (defined as location) from the canonical neoclassical model of the economy was, argues this thought-provoking book, an … Continue reading Rethinking the Economics of Land and Housing features in Martin Wolf’s best books of 2017
This article was originally published at openDemocracy. One of the basic claims of capitalism is that people are rewarded in line with their effort and productivity. Another is that the economy is not a zero sum game. The beauty of a capitalist economy, we are told, is that people who work hard can get rich … Continue reading It’s time to call the housing crisis what it really is: the largest transfer of wealth in living memory
I was interviewed by Real Media about the roots of Britain’s housing crisis, the polarising effect it is having on society, and what can be done to fix it.
This article was originally published at openDemocracy. The UK, along with many other advanced economies, is facing a major housing affordability crisis. Average house prices are now on average nearly eight times that of incomes across England and Wales, and up to 39 times in parts of central London. A whole generation finds itself priced out of … Continue reading To solve the housing crisis, we need to fix our broken land economy
This article was originally published at Civil Society Futures. The event is widely regarded as representing the beginning of the global financial crisis, as what had previously been regarded as minor turbulence in the US housing market became something far more serious. Banks stopped lending to each other and the financial system froze, sending shockwaves … Continue reading Ten years after the crash, is civil society ready to take on big finance?
This article was originally published at openDemocracy. “The important thing for Government is not to do things which individuals are doing already, and to do them a little better or a little worse; but to do those things which at present are not done at all” — John Maynard Keynes On 20 July 1969 Neil … Continue reading Shooting for the moon: Why we need a new mission for a zero carbon future
This article was originally published at openDemocracy. Jeremy Corbyn’s proposal to requisition empty houses in Kensington in aid of those made homeless by the Grenfell tragedy has been met with somewhat of a backlash. The Telegraph says that Corbyn's “land grab” is the first step towards tyranny. Rupert Myers, political correspondent at GQ magazine, says that “the state shouldn't seize private … Continue reading Theresa May has prioritised the rights of absentee landlords over the Grenfell victims
This article was originally published at openDemocracy. This election comes during a remarkable period in British economic history. Over the past ten years real wages have suffered a larger decline than in any other advanced country apart from Greece. Mark Carney, Governor of the Bank of England, recently said that Britain is experiencing its “first lost decade since the … Continue reading We have a real choice between different economic futures
This article was originally published at openDemocracy. Few aspects of our economy are as poorly understood among politicians and the general public as our monetary system. This becomes particularly obvious – and dangerous – during general election campaigns. Last night Theresa May responded to a nurse’s concerns over pay in the NHS by saying “there is no magic money tree” … Continue reading There is a magic money tree – don’t let politicians tell you otherwise