Does repeating a thing make it true? The followers of mainstream economic dogma must surely think ‘Yes’. After the financial crash of 2008 and the malaise ever since, they haven’t changed their tune much. Their prescriptions don’t work but the patients – you or me – are still being dosed with ‘freemarket’ medicine.
It’s enough to make one go a funny shade of green.
We’ve worked on this edition in the spirit of providing something of an antidote. The economic bottom line is inevitable, say the powers that be. Just the way things are. Well, we – and an ever-growing legion of dissenting economists and fed-up-to-the-back-teeth members of the general public – say, ‘No’. These cherished myths are causing real harm and we need to ditch them.
A big thank you to my co-writer and fellow myth-buster on The Big Story this month – former New Internationalist co-editor David Ransom, who has brought his wit, insight and engagement to bear on it.
Among other features this month is an unusual piece by Suprabha Seshan, who is director of a botanical sanctuary in South India. It’s the kind of ecological writing that has a heartbeat. Meanwhile, regular columnist Steve Parry’s ears are ringing after being subjected to much Twittering.
Dinyar Godrej for the New Internationalist co-operative.
Dinyar Godrej and David Ransom introduce this month's main theme.
Never underestimate the power of cherished ideas. They are clung to ever tighter when we are suffering reality’s harshest knocks.
When it comes to economics, today’s over-riding article of faith is of the rule of the market. If only it were completely free and global, with notions of governance and workers’ rights out of the way, then the good capitalists would usher in an era of plenty with pickings for everyone, from top to bottom. Regulation, social provision, public ownership are all gett...
Don't rely on those who caused the crash to resolve it, argues David Ransom.
Taxation creates prosperity just as much as private enterprise, says David Ransom.
Migration follows a demand for labour - and benefits the receiving country, writes Dinyar Godrej.
There is no evidence of greater efficiency, explains Dinyar Godrej.
Not if you look at the environmental costs, says Dinyar Godrej.
Why should financial markets be accountable only to themselves? asks David Ransom.