new economics foundation

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Presentation transcript:

new economics foundation the 1% economy new economics foundation

why are we all in this room?

the economy isn’t working national income per person still 13% below pre-crisis levels income inequality growing faster in UK than any other rich country highest youth unemployment on record

no one is spending, so no one is earning tracing the story back recession no one is spending, so no one is earning

tracing the story back the credit crunch

tracing the story back the credit crunch household debt as % of income

tracing the story back wage squeeze

tracing the story back collapse of keynesianism

tracing the story back collapse of keynesianism

core elements of neoliberalism roll back frontiers of the state wage squeeze expansion of credit

the neoliberal bargain rising house prices low tax cheap food privatisation of state industries FOR pensions wage squeeze light touch regulation cheap consumer goods cheap credit

problems with the bargain rising debt UK debt liabilities

problems with the bargain environmental pressure global emissions of fossil fuels

problems with the bargain widening inequality average income over time

problems with the bargain widening inequality average property wealth after mortgage

problems with the bargain widening inequality average property wealth after mortgage

problems with the bargain stagnant well-being life satisfaction and gdp over time

the neoliberal bargain rising house prices low tax cheap food privatisation of state industries FOR pensions wage squeeze light touch regulation cheap consumer goods cheap credit

everything is back on the table

people are asking fundamental questions about the economy

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