From the TUC

Economics

Striving for Growth with Opportunity: Job Polarisation should be a concern of Industrial Strategy

05 Aug 2014, by in Economics

For many years, the TUC has advocated for a modern industrial strategy that brings together government, business and trade unions. It has presented options for inclusive economic growth with increased opportunity and more quality jobs, rather than unsustainable GDP growth with little attention given to the nature of work. Last year, an industrial strategy was…

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Corporate governance: What it’s about, why it matters

24 Jul 2014, by in Economics

The TUC’s new pamphlet on “corporate governance” is made up of contributions from 17 expert authors including academics, businesspeople, former government advisors and trades unionists. NPI shared the editorial duties. But why should anyone whose immediate concern is with low pay, poor housing or cuts to services care about a subject seemingly so obscure? Here’s…

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Finance for innovation: a priority for the UK

23 Jul 2014, by in Economics

“Economists know only one thing. If an economist says he knows more than one thing, he is exaggerating. And the one thing that economists know is this: today’s investment is tomorrow’s growth” So said Andy Haldane, Chief Economist of the Bank of England, at the House of Commons last night. Haldane was speaking at the…

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Labour hits on essential role of carbon capture

09 Jul 2014, by in Economics

There are great opportunities for countries that develop the leading green technologies of tomorrow. So Labour has rightly hit on innovation policy for carbon capture and storage technology in its new CCS position paper. If Labour delivers, CCS will mean cheaper energy and a return to growth in industrial regions like the Tees Valley and…

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Beyond Shareholder Value – the reasons and choices for corporate governance reform

08 Jul 2014, by in Economics

The emphasis on shareholder value within our corporate governance system contributes to short-termism and is damaging both our economy and society. Reform is possible and urgent. There are a wide range of practical ideas for what form it should take, including in the area of stakeholder representation within decision-making within companies and in the wider…

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Andrew Adonis on the ‘Fractured Economy’.

01 Jul 2014, by in Economics

The ever-thoughtful Andrew Adonis has put much flesh on the bones of a future Labour growth strategy in his report, ‘Mending the Fractured Economy’, published this morning. This report follows a plan for growth published two years ago by one of the great thinkers on the Conservative side, Michael Heseltine. I take a close interest…

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A Close Look at the UK “Recovery”

28 Jun 2014, by in Economics

Policies of fiscal austerity have brought deprivation and despair to millions of people in Europe, not least in Britain.  In my recent book, Economics of the 1%, I explain in simple, straight-forward language why the arguments for austerity are nonsense.

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US economy would benefit from higher minimum wage, says IMF

17 Jun 2014, by in Economics

The International Monetary Fund’s statement that the US would benefit from a higher minimum wage (Country Report, section 3) demonstrates two important things. First, even the most conventional economists can now see merits in minimum wages. In the US case, the orthodox argument is simply that the wage-setting process is an unequal one, because employers…

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