Britain’s broken economy: and how to mend it.

Chakrabortty, Aditya, Clark, Tom, Eturk, Ismail, Froud, Julie, Johal, Sukhdev, Lansley, Stewart, Leaver, Adam, Lloyd, Toby, Moran, Mick, Murphy, Richard, Reed, Howard, Rutherford, Jonathan, Weldon, Duncan and Williams, Karel (2010) Britain’s broken economy: and how to mend it. Soundings, London. . [Book]

Abstract

Labour is faced with a challenge unmatched since the 1930s. The kind of changes it must strive to enact match those of the post war Atlee government. This is the scale of the task before it. Central is the need to develop a new political economy. Recovery, and rebuilding the economy, will require a strategic and more interventionist style of government. To achieve this the state will need radical reform from top to bottom to make it much more democratic. Power needs to be decentralised to the nations and to local government. The state will have to be capable of regulating markets and asserting the public interest in the wider economy, while also being responsive to individual citizens and small businesses. On current trends the social economy will become the biggest sector by value and employment. Labour will need to develop novel ways of linking the formal and informal economy, creating a state capable of interacting with social and community organisations, and devolving real power and decision making to workers and users. The ebook provides an outline of a new political economy for Labour.

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