Category Archives: IMF

This category considers publications from the International Monetary Fund.

The case against free trade – Part 2

This blog continues my mini-series of free trade. In The case against free trade – Part 1 – I showed how the mainstream economics concept of ‘free trade’ is never attainable in reality and so what goes for ‘free trade’ … Read the rest of this entry »

Posted in Demise of the Left, IMF | 6 Comments

Reforming the international institutional framework – Part 3

As I noted in the first two parts of this little mini-series (can a mini-series be anything other than little), multilateral institutions such as the World Bank and the IMF have outlived their usefulness, given changes in economic conditions and … Read the rest of this entry »

Posted in Demise of the Left, IMF | 4 Comments

Pragmatic retreats into reality by the IMF will be ephemeral

On June 26, 2016, the Bank of International Settlements (BIS) published its – 86th Annual Report, 2015/16 – claimed that “there is an urgent need to rebalance policy in order to shift to a more robust and sustainable global expansion … Read the rest of this entry »

Posted in Central banking, Economics, IMF | 8 Comments

Reforming the international institutional framework – Part 2

This blog is the second part (now of three) where I discuss how the international institutional framework has to be reformed to serve a progressive agenda where rich countries (and the elites within them) do not plunder then pillory poor … Read the rest of this entry »

Posted in Demise of the Left, IMF | 9 Comments

Reforming the international institutional framework – Part 1

This blog continues the unedited excerpts that will appear in my new book (with Italian journalist Thomas Fazi) which is nearing completion. This material will be in Part 3 where we present what we are calling a ‘Progressive Manifesto’, which … Read the rest of this entry »

Posted in Demise of the Left, IMF | 8 Comments

Why capital controls should be part of a progressive policy

I am in the final stages of completing the manuscript for my next book (this one with co-author, Italian journalist Thomas Fazi) which traces the way the Left fell prey to what we call the globalisation myth and started to … Read the rest of this entry »

Posted in Demise of the Left, IMF | 15 Comments

The British Left is usurped and IMF austerity begins 1976

We left the trail last time with James Callaghan telling the British Labour Party Annual Conference on September 28, 1976 that governments can no longer spend their “way out of a recession” and that the Keynesian approach was an option … Read the rest of this entry »

Posted in Britain, Demise of the Left, IMF, UK Economy | 11 Comments

The conspiracy to bring British Labour to heel 1976

This is a further instalment in tracing through the British currency crisis in 1976 and its retreat to the IMF later in that year. Today we discuss the tensions within the British Labour Party at the time, the Callaghan Speech to … Read the rest of this entry »

Posted in Britain, Demise of the Left, IMF, UK Economy | 5 Comments

The 1976 British austerity shift – a triumph of perception over reality

This is a further instalment in tracing through the British currency crisis in 1976 and its retreat to the IMF later in that year. Today we discuss whether it was the IMF that forced the change of direction for British … Read the rest of this entry »

Posted in Britain, Demise of the Left, IMF, UK Economy | 7 Comments

OECD joins the rush to fiscal expansion – for now at least

In the last month or so, we have seen the IMF publish material that is critical of what they call neo-liberalism. They now claim that the sort of policies that the IMF and the OECD have championed for several decades … Read the rest of this entry »

Posted in Economics, Fiscal Statements, IMF | 20 Comments