Saturday, Apr 04, 2009
New World, New Rules; Now Brown must dare to spend
Guardian: A different perspective from the article below
A new world order? Really? That hope still hangs in the balance, on a knife edge, by the skin of its teeth. The world has turned upside down in Obama year: the G20 seemed to thunder out the death knell of the Reagan-Thatcher neoliberal experiment. A year ago who would have dared predict a G20 finding a trillion dollars to save weak countries, or hedge funds and banks globally regulated with bonuses restrained, and an end in sight to tax havens? Change is in the air. Social democratic solutions are proving the best economic as well as social answers.
Posted by ketha @ 08:00 AM (341 views) Add Comment
2 Comments
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1. Drewster said...
Interesting point of view, and I have to agree with at least some of it.
"Professor David Blanchflower urges emergency spending to prevent mass youth unemployment. With 800,000 under-25s out of work and another 600,000 leaving school this summer, he wants the budget to borrow £90bn to rescue them. He wants them kept in education, raising the leaving age to 18 this September, with 100,000 more university places this year for all with two A-levels who won't find a place, plus more further education places and apprenticeships to keep as many as possible out of the labour market and still learning. Thousands of graduates would be employed teaching them.
That adds around a net 2% to the national debt, deducting the cost of keeping them out of work. What it saves is the lifetime cost of a lost generation, saving benefits, a spike in crime, rough sleeping, mental illness and all that befell the school-leavers of the early 1980s."
Fair points. Polly & Blanchflower talk economic sense, which isn't always the case!
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