In the shadow of my previous post I bring you Frank Stilwell and Political Economy Now.
I actually helped design and produce this badge. It’s a collector’s item now. I wear mine with pride.
My roots go deep and the history of this struggle has recently been published.
Players of
political
economy
Frank Stilwell | May 06, 2009
THE International Monetary Fund recently revised its global economic projections downwards. The global financial crisis has created the most difficult economic conditions for more than 70 years. Australia, though better placed economically than many other nations, cannot avoid being adversely affected by the global downturn.
These are circumstances in which we may expect some fundamental rethinking by economists. It was their confidence in free markets producing efficient outcomes that gave legitimacy to the neo-liberal policies of the past two decades. Those policies, including privatisation and financial deregulation, reduced the capacity of the government to directly influence economic outcomes. During the boom years this did not seem to matter, but with the benefit of hindsight we can see that it was a fools’ paradise.
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