Austerity was never necessary. It was a political choice, and Britain is still paying the price. In 2010, George Osborne told Britain that the government
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Are we living through a new Gilded Age, where a small number of enormous corporations have accumulated too much economic and political power? In this
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What is neoliberalism, and why has it had such a devastating impact on Britain’s economy, public services and democracy? Neoliberalism has dominated economic and political
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Inflation means that prices are rising, but knowing the inflation rate does not tell us why prices are going up. In this Understanding Economics video,
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What is tax really for? Most people assume that governments need to collect tax before they can spend. But for a government like that of
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Why should money earn interest simply because somebody owns it? We usually treat interest as a natural and inevitable part of the economy, but in
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What is a market? Economists often talk about markets as though they are natural forces that operate independently of society and government. In this Understanding
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What is a business? The conventional economic answer tends to focus on firms, markets, capital and profit. I think that misses the most important part
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Who really creates wealth in our economy? Is it the people who own businesses, property and financial assets, or the people who actually do the
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