[Lehman collapse, 15 September 2008 - headlines 16 Sep 2008]

Economics is a social subject.

It’s the interactions and relationships between people

that make the economy go around.

Debates over economic issues are not technical

debates where expertise alone settles the day. They

are deeply political debates.

Economics is a social subject.

It’s the interactions and relationships between people

that make the economy go around.

Debates over economic issues are not technical

debates where expertise alone settles the day. They

are deeply political debates.

A society in which ordinary people know more

about economics, and recognize the often conflicting

interests at stake in the economy, is a society in

which more people will feel confident deciding for

themselves what’s best – instead of trusting the

experts. It will be a more democratic society.

Economics is a social subject.

It’s the interactions and relationships between people

that make the economy go around.

Debates over economic issues are not technical

debates where expertise alone settles the day. They

are deeply political debates.

A society in which ordinary people know more

about economics, and recognize the often conflicting

interests at stake in the economy, is a society in

which more people will feel confident deciding for

themselves what’s best – instead of trusting the

experts. It will be a more democratic society.

Quite apart from whether you think capitalism is

good or bad, capitalism is something we must study.

It’s the economy we live in, the economy we know.

Over the last quarter of a

century something

fundamental seems to

have changed in the way

in which capitalism works.

The tendency since 1970

has been towards greater

geographical mobility of

capital.