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Making sense of the recession

March 2009

Angus KennedyWhat are we to make of the reactions that are emerging to the economic crisis? From wildcat strikes in Britain, to green 'new deals', to Gordon Brown being 'angry' with the bankers and their 'greed culture'? In the run-up to the G20 meeting in April to table 'bold solutions' to the problems, are we starting to see a repoliticization of economics?

 

To really make sense of the crisis, societies need to discuss and debate the kind of economies they want: what their attitude to growth is; what sort of needs and wants they feel should be provided for. For decades now political discussion of this sort has been off the agenda, rendered unnecessary by the harsh logic of TINA: 'there is no alternative'. Instead, we have seen economics depoliticized and reduced to nothing more than a matter of technical adjustment and regular servicing, keeping the economic engine clean and rust-free.

 

Should we settle for a new austerity economics and an ethos of restraint? Should we go along with those who seek to redefine happiness as only a matter of how you feel and not what you have? Do we also need to be examining the role of production in society, even making the case for more growth?

 

Angus Kennedy from the Institute of Ideas and Emerging Economies Forum will introduce and lead the discussion.

 

Readings

Mick Hume, Wild claims and wildcat strikes, spiked, 4 February 2009
http://www.spiked-online.com/index.php?/site/article/6174/

Martin Wolf, Why Obama must mend a sick world economy, Financial Times, 20 January 2009
http://www.ft.com/cms/s/0/dd14a46e-e72f-11dd-aef2-0000779fd2ac.html

Frank Furedi, The Crisis With No Name, spiked, 16 December 2008
http://www.spiked-online.com/index.php?/site/article/6027/

Brendan O'Neill, Against Austerity, spiked, 6 October 2008
http://www.spiked-online.com/index.php?/site/article/5790/

G20 Site
http://www.londonsummit.gov.uk/en/