Posts Tagged

Economics

In October 2019, demonstrators took to the streets of Lebanon, chanting “all of them means all of them”— a cry for the entire government to resign. For the first time in years, the country witnessed the mobilisation of thousands of its citizens across every city. There were even Lebanese protests in major European cities and North America. Together, they formed a united front: citizens coming together regardless of religious affiliation, gender or age differences. Four months after the protests began, the country’s institutions are in shambles, a financial crisis worsens, and the media is in a near-total blackout. Unfortunately, Western attention has turned away from Lebanon. The situation, though, still warrants careful observation, as what happens next could mean a …

Occupy has spotlighted the super-elite, but the ‘average Brit’ that is pitted against this class does not exist. For the struggle to empower all citizens to succeed in Britain, mapping actual wealth distribution is critical. [This is the second of three pieces exploring wealth distribution in Britain. It sits within our Democratic Wealth debate, in partnership with OurKingdom.]

Social democracy seems perpetually at a crossroads. But today, more than a hundred years after the first of the parties affiliated to the Second International won a plurality in a parliamentary election (in Finland in 1907; Anderson, 1992, 307), social democrats may finally be running out of rope. All the main European social democratic parties are facing a crisis, registering at long last endlessly postponed questions about their fundamental purpose.
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Democracy is morally prior to the economy. The structure of the economy is something a sovereign people may and should design and redesign to secure its common good – that is, the shared interest of each and every citizen in life, liberty and economic opportunity. This is the basic premise of the ‘Democratic Wealth’ series that I have the pleasure of editing. This is, however, by no means an uncontroversial premise.

Nationalist movements often argue that small countries are more economically successful than big ones.  The Scottish Nationalist Party claims that independence would allow Scotland to advance from ‘its subordinate position within the UK, and generate a new prosperity for Scotland’.  And former Plaid Cymru MP, Adam Price, who is currently taking a career  break at Harvard University, goes further, wrapping the ‘small  equals rich’ argument in a cloak of pseudo-academic jargon. Price’s article, published in an on-line student journal, is entitled ‘Small is Cute, Sexy and Successful’.  He argues that smaller countries grow faster because they are more open to trade, more socially cohesive and more adaptable.  Rather optimistically, Price even argues that differences in population size alone account for ‘mighty minnows’ outperforming the big five (UK, Italy, …