|
Tackling the World Recession
By John Grieve Smith.
Published: January 2002
Few now doubt that the turbulent international situation has exacerbated
and economic slowdown already underway across the advanced economies.
The threat of recession has also led some to suggest that the pendulum
might be ready to swing back from the monetarist and neoliberal consensus
of the late twentieth century to a modernised and internationalist Keynesianism for
the twenty-first. John Grieve Smith takes stock of these shifts, arguing
that while the US has shown encouraging signs, EU and UK policymakers
are still too wedded to the deflationary bias of the past.
Furthermore, the paper argues, the mood for "re-ordering the
world" should prompt us to move forward with renewed urgency the
project of "a new Bretton Woods" first raised in the aftermath
of the Asian financial crisis of 1997. Our increasing global interdependence
means that we depend on the stability of other economies no less than
they depend on our own continued growth.
John Grieve Smith is a Fellow of Robinson College, Cambridge with wide
experience of government and industry. His most recent book is There is
a Better Way: A New Economic Agenda, Anthem Press 2001. He is a member
of Catalyst's Editorial Board.
Download PDF
Top
|
 |
Pamphlets cost £5 each and are available from Central Books. They
can be ordered by credit card on 020 8986 4854 or by cheque from: Central
Books, 99 Wallis Road, London, E9 5LN (plus 75p p&p). They are also
available by subscription.
To read PDF documents you will need Acrobat Reader installed on your computer.
If you do not have a copy you can download it free from Adobe.
Publications list
|
