Ann Pettifor

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Ann Pettifor

Political economist, author and public speaker

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‘Deficit Financing’ or Deficit-Reduction Financing?

/ Debt, Fiscal Conservatives, Fiscal Deficit, Government Borrowing, Interest Rates, Usury

Introduction “Deficit financing” in contemporary economics is controversial – largely because of flawed economic approaches to a sovereign nation’s public finances. The first is the microeconomic approach that treats government budget deficits in much the same way as household deficits. In other words, the assumption that like a household, a government budget deficit is the consequence

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The BBC’s Cassandras of the Crash

/ Anglo-American Financial Crisis, Bank Bail-outs, Banking Crisis, Bernanke, Credit Crunch, Economic Orthodoxy, Federal Reserve, Financial Crisis, Globalisation, International Financial System

  On Wednesday, 19th September and again on 22nd September, the BBC broadcast an interview in which I participated. It was called Cassandras of the Crash. The programme is available on the BBC’s Radio 4 website, with the following introduction. “Ten years ago, in autumn 2008, the world watched as the biggest financial meltdown in

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A Reckless Economic Experiment

/ BREXIT, British Chancellor, Euro, Euroland, Government Borrowing, Uncategorized

  The following article appeared in the Church Times on 20 September, 2018 “The Government is unprepared for a hard Brexit, says Ann Pettifor. The financial impact could be devastating” The Brexit referendum provided conclusive evidence that economics is inherently political. There was nothing scientific about any of the campaign promises or economic forecasts. Instead,

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What would you do – if appointed as governor of the Bank of England?

/ Bank of England, British Banking, Interest Rates

That was the question put to me by Ruth Potts, then editor of Red Pepper magazine. My reply was published in the 17 September, 2018 edition of the magazine – Creating the Future. If such an implausible appointment were ever to be made by a Labour Chancellor, I would regard my appointment as Governor of

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The Indefatigable Efforts of J. M. Keynes

/ Capital Flows, Economic Orthodoxy, International Financial System, Keynes, Uncategorized

This is an extract from an article written for The Times Literary Supplement                 The international and financial dimensions of Keynes’ work are today neglected in favour of the laissez-faire economics that Keynes had so vigorously contested. His profession is dominated by economists concerned overwhelmingly with the activities of individuals,

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On “the policy” and the Governor of the Bank of England

/ Bank of England

Extract from an article written for PEF Carney does not seem to be aware, but central bankers’ groupthink today unites once again around the “normalcy” of a single policy: financial globalisation, or unfettered financial capitalism. In other words, the deregulation and globalisation of markets in money, goods, services, property and labour is once again the

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Why I support ‘Another Europe’

/ Uncategorized

The vote for Brexit was in my view, an anti-globalisation vote. A vote against decision-making by invisible, unaccountable global markets in money, trade, property and labour. Unregulated markets, facilitated by mobile, cross-border capital flows that imposed painful economic changes on populations across the world, and did so at great speed. A global market in mobile

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The Future of Money: An Interview with Ann Pettifor

/ Bitcoin, British Banking, Credit, Credit Creation, Money

This interview with Dr. Ian Cosh appeared on the Misc magazine website on 29 August, 2018 We tend to think of money as a cultural artifact that has evolved from stone disks and precious metals into modern currencies that are becoming increasingly digital. According to Ann Pettifor, a UK-based economist and director of Policy Research

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The Treasury view and a sheep farmer in the Yorkshire Dales

/ BREXIT, Economic Orthodoxy, Globalisation, Public Spending

This was first published as a column in the Independent, on Sunday, 26th August, 2018 On holiday in the in the safe Tory seat of Richmondshire in the Yorkshire Dales this week, we watched as a dedicated sheep farmer demonstrated the skills and athleticism of his working dogs. Five generations of Richard Fawcett’s family have

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