None of the Labour candidates has an economic approach that will prove viable but it is essential to oppose austerity, what is the solution?
Devaluation alone is not the solution to the UK's economic woes. But it is the necessary foundation needed for other policies to work.
In his new book John Mills makes a strong case for a British devaluation of sterling but we must start thinking about the socio-political foundations which shape our dysfunctional economy - you can't have a German economy sitting on the UK's political structures.
The deficit is the consequence, not the cause, of Britain's financial problems. Reducing it would require big increases in spending from corporates and consumers. Could the trade balance component be the easiest route out of austerity?
Global economy remains so imbalanced that significant currency shifts are needed, not only to help pull the West out of its slump but to ensure a stable and viable world for us all.
Unlike any other developed nation the UK has sold off considerable amounts of its major industries and assets to overseas owners. This has weakened democratic control of industry, inflated our exchange rate and seriously undermined our manufacturing base. Here's why.
John Mills and Norman Tebbit discuss Britain's approach to manufacturing, home-grown industry, foreign ownership of assets, the exchange rate, and re-examine the choices of former governments and how they have affected Britain's economy today.
We may not be able to do much about the top decile protecting their earnings, but we can drive the bottom up if we focus on areas of existing strength in productivity - here's why
Continuing our Devalue or Else series, Tony Curzon-Price replies to John Mills, arguing that further devaluation could even increase the earnings divide across UK industries. Could this effect be enough to offset the equality gains from increased employment?
It is not just Britain's balance of trade that would be aided by a substantial devaluation but also inequality and the host of ills it brings with it. John Mills explains why in this second round of articles from the debate Devalue or Else.
The opening response of our Devalue or Else! debate, Robert Skidelsky addresses the arguments of John Mills and suggests devaluation has many potential problems as a means of restoring Britain's economic fortunes.
Reproduced with thanks to Civitas, in this 2012 pamphlet John Mills sets out the case for devaluation as the best means of returning the British economy to balance and prosperity. It is published here in full, except for tables and footnotes, as part of OurKingdom's new series - Devalue or Else!
