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Why anger and confusion reign in an economy paralysed by myth
Author: Jack Mosse

For a number of decades our economy has failed to work for ordinary citizens. Stagnant wages have been combined with underemployment and rising costs of basic goods like healthcare, education and housing. At the same time, a small minority of the population make obscene profits, while in the background we continue to hurtle headlong into an environmental emergency. However, despite there being no shortage of anger and anti-elite sentiment expressed in what is often referred to as the ‘culture wars’, no significant challenge to the dominant economic model has broken into the mainstream. The pound and the fury argues that behind this failure of imagination are a set of taken-for-granted myths about how the economy works – myths that stifle debate and block change. The book analyses these myths, explores their origin, how they circulate and how they might be dispelled at a time when, away from the public gaze, economic theory is opening up new possibilities of economic action. Possibilities that, as we emerge from the chaos of Covid-19, could lead to the radical structural changes we desperately need.

Scale of demand and the role of competences
Suma S. Athreye

important stimulus to the emergence and growth of the UK software industry, this trajectory of growth has had its limits. Firms are constrained both by the growth of demand and by the lack of marketing skills that might re-invent market boundaries so necessary for the development of software products. The absence of a large commodity software market has meant a less radical impact of the software industry upon industrial growth in the UK economy. Thus, in this chapter, we describe the evolution of an industry driven by the need for outsourcing and limited by the

in Market relations and the competitive process
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From the Bank of Scotland’s origins to HBOS and crisis
Jonathan Hearn

those that actually struck deals (stock­ jobbers). This greatly liberalised trading practice and strengthened both London’s role as a global financial capital and the City of London’s dominant position in the UK economy. Finally, 1986 also saw the Building Societies Act, which paved the way for the demutualisation of many building societies as they transformed into jointstock companies in which former members of the mutual organisation became corporate shareholders. In this way the two largest UK building societies became the new banks, Abbey National and Halifax

in Salvage ethnography in the financial sector
Stephen Kinsella

UK’s population density varies widely, as one might expect, but on average it was 255 people per km 2 in 2018. The UK economy is open, with a ratio of trade to gross domestic product of 61% in 2019, and is one of the world’s most financialised economies. The Irish economy, however, is one of the most open in the world, with a ratio of trade to gross domestic product of 210

in Ireland and the European Union

The well-being of Europe’s citizens depends less on individual consumption and more on their social consumption of essential goods and services – from water and retail banking to schools and care homes – in what we call the foundational economy. Individual consumption depends on market income, while foundational consumption depends on social infrastructure and delivery systems of networks and branches, which are neither created nor renewed automatically, even as incomes increase. This historically created foundational economy has been wrecked in the last generation by privatisation, outsourcing, franchising and the widespread penetration of opportunistic and predatory business models. The distinctive, primary role of public policy should therefore be to secure the supply of basic services for all citizens (not a quantum of economic growth and jobs). Reconstructing the foundational has to start with a vision of citizenship that identifies foundational entitlements as the conditions for dignified human development, and likewise has to depend on treating the business enterprises central to the foundational economy as juridical persons with claims to entitlements but also with responsibilities and duties. If the aim is citizen well-being and flourishing for the many not the few, then European politics at regional, national and EU level needs to be refocused on foundational consumption and securing universal minimum access and quality. If/when government is unresponsive, the impetus for change has to come from engaging citizens locally and regionally in actions which break with the top down politics of ‘vote for us and we will do this for you’.

Visualising a changing city

Delving into a hitherto unexplored aspect of Irish art history, Painting Dublin, 1886–1949 examines the depiction of Dublin by artists from the late-nineteenth to the mid-twentieth century. Artists’ representations of the city have long been markers of civic pride and identity, yet in Ireland, such artworks have been overlooked in favour of the rural and pastoral, falling outside of the dominant disciplinary narratives of nationalism or modernism. Framed by the shift from city of empire to capital of an independent republic, this book chiefly examines artworks by of Walter Frederick Osborne (1857–1903), Rose Mary Barton (1856–1929), Jack Butler Yeats (1871–1957), Harry Aaron Kernoff (1900–74), Estella Frances Solomons (1882–1968), and Flora Hippisley Mitchell (1890–1973), encompassing a variety of urban views and artistic themes. While Dublin is renowned for its representation in literature, this book will demonstrate how the city was also the subject of a range of visual depictions, including those in painting and print. Focusing on the images created by these artists as they navigated the city’s streets, this book offers a vivid visualisation of Dublin and its inhabitants, challenging a reengagement with Ireland’s art history through the prism of the city and urban life.

Holly Jarman

and the right of the political spectrum. What does the UK trade with the rest of the EU? During the Brexit referendum debates, prominent figures in the Leave campaigns argued that the size of the UK’s market and its international importance meant that other countries would have to prioritize negotiating new trade deals with an independent Britain or risk damaging their economic growth. Pro-Brexiteers expressed supreme confidence that other states would be lining up to seal deals with an independent UK, and that these deals would be better for the UK economy

in The European Union after Brexit
Steven Griggs and David Howarth

4 The new rhetoric of airport protest The principal issue to address will be how to meet demand for aviation in the most sustainable manner. In our view, policies which limit consumer choice or seek to artificially constrain demand would lead to job losses, damage to the UK economy and undermine the freedom of consumers to travel at a reasonable cost to a broad range of destinations. Our own vision is of an aviation policy promoting a dynamic industry to support the British economy, provide consumer choice and deliver effective measures to protect the

in The politics of airport expansion in the United Kingdom
Crispian Fuller

wary of anything mentioning devolution since” (anonymised author’s interview). Nonetheless, the political power of a discourse of autonomy and, with it, an acceptance of the national government’s approach has helped to foster particular subjectivities and thus influenced the ‘I’, serving to depoliticise the agenda. As the leader of a neighbouring authority noted: “We recognise there is a sixteen billion pounds output gap between the West Midlands and the national average … Last year the Chancellor spoke about the need to rebalance the UK economy and now

in The power of pragmatism
Abstract only
Steven Griggs and David Howarth

the industry’s vital contribution to the UK economy. Such narratives had been persistently articulated throughout the campaign for the third runway at Heathrow and during the debates and discussions leading up to the 2003 white paper. In a similar vein, at its inaugural press conference, the Aviation Foundation repeated its long-standing demands for government to take the lead in aviation policy, arguing that any consultation should ensure ‘a clear policy conclusion that can be progressed without delay’, and which ‘lasts beyond the term of one Parliament and ensures

in The politics of airport expansion in the United Kingdom