In the UK, the Tories have slashed NHS funding, public housing and social care, policing, libraries, arts – even school dinners – on the grounds it was unaffordable. But it was comfortable spending £142 million per year subsidising the defence force (including the promotion of arms exports), and another £18 billion in corporate tax cuts for the private sector, and £120bn building a bloody great bridge to France.
The economic and social impact of rapid technological progress including artificial intelligence, automation, intelligent robots and self-driving cars will be a key theme for this week’s meeting of the World Economic Forum (WEF) in Davos. Graham Brown-Martin asks how our global education systems can respond to what the WEF calls the “fourth industrial revolution”.
There will be no true economic recovery – or growth – until world leaders stop confusing government finances with that of a household budget, writes economist, Dr Steven Hail.
What most of us have long believed about how the economy works is based on a set of fundamental myths, supported by a series of inappropriate and misleading metaphors, from which it is difficult to escape.
In this Renegade Short, Professor Steve Keen explains why the government isn’t supposed to balance it’s accounts like a household.