An economist, entrepreneur and political commentator, I'm Founder and Chairman of JML, the consumer goods company. I'm also Chairman of Labour Leave & Labour Future, Chairman of the Pound Campaign, and Secretary of the Labour Euro-Safeguards Campaign.
On Wednesday 29 April, I launched my new pamphlet, 'You Have Have Been Warned: The Problems Facing The West Are Much More Acute That Is Often Realised'. It argues that we may well be heading for a major crisis as a result of a number of potentially overlapping threats materialising.
"I would urge everyone involved in, or even interested in, British economic policy-making to read this pamphlet."
- Liam Halligan, economist and columnist
"This pamphlet is a very powerful piece of work which we ignore at our peril."
- Bryan Gould
For many decades, the West has worked on the assumption that living standards are fundamentally on an upward trajectory. 'You Have Been Warned' challenges this view. Even if nothing goes badly wrong, unless there are major policy changes it argues that GDP per head in most western countries is unlikely to go up significantly, if at all, during the foreseeable future. Worse may be in store, however, as potentially much more damaging outcomes materialise. Stagnation in the Eurozone may be replaced by fragmentation; austerity policies are likely to precipitate recessions rather than deficit reduction; debt, particularly in the public sector, may spiral up to levels which the markets will not tolerate; and the political centre could easily lose control to protest parties incapable of providing coherent and rational government.
The fundamental problem the West faces is its inability to compete with the East on manufacturing and trade. It is the deficits thus created which are at the root of the West’s problems. Unless there are major currency realignments, the West will never hold its own in the world. Should the UK take the lead in ensuring that we, at least, have an exchange rate which can be combined with full employment and a reasonably substantial and sustainable growth rate?
Receive my updates. Enter your email address below.