Saturday 23rd April
Our monetary system has evolved over centuries as a great public good – not unlike the sanitation system. Managed well, it could enable society to do great good, e.g. it could transform our economy away from fossil fuels. However, the system has been captured by a small financial elite, which today exercises extraordinary power over society and governments. How can we reclaim money for the benefit of society as a whole?
Ann Pettifor is an influential political economist and Director of the think-tank Policy Research in Macroeconomics (PRIME). In September 2015 she was appointed to Jeremy Corbyn’s Labour Economic Advisory Committee. Her background is in sovereign debt – particularly those of low-income countries, and she was one of the leaders of the Jubilee 2000 campaign, which led to the writing off of $100 billion (in nominal terms) of debt owed by 35 of the poorest countries in Africa, Latin America and Asia. More recently she has analysed, and written extensively on both the private and public debts of Anglo-American economies. Ann was one of the few people to correctly predict (in 2003 and 2006) the global debt-deflationary crisis of 2007.