- The nef has a new £4 pamphlet - 20 first steps to rise from the ashes - "This year has been finance-led capitalism’s 1989. It is now as broken as the old Soviet Union. Now there is a huge opportunity to develop a new model for a real economy that does work for people and the planet." Hat-tip to Greenman.- China announced a £374bn economic stimulus package yesterday
- Some guy named Obama wants to crack down on tax havens as part of the "new financial architecture"
If we want to start talking about "reembedding the economy", it's time to start talking about Polanyi, not Keynes.
Finally, Mary Kaldor has a long, but interesting, article on the crisis - "Underlying the financial crisis is a deeper structural crisis in the real economy. It has to do with the mismatch between our social and political institutions and the profound changes in society wrought by the so-called 'new economy' ... Any stimulus must provide a sustainable outlet for the extraordinary gains in technological know-how of the last thirty years."
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