John Mill's new book on these issues, Britain's Achilles Heel, is out now :
Also on Amazon:
Created, filmed and edited by Oliver Huitson.
Featuring with thanks: Ruth Lea, John Mills, Gerard Lyons and Rosemary Bechler.
Narration by Rosemary Bechler.
Stock footage by www.videvo.net/ and www.pexels.com/
Britain's Achilles Heel, Our Uncompetitive Pound,
By John Mills
Why is economic growth and prosperity in the world so patchy and unstable? Why have incomes for so many people stagnated? Why is there so much inequality - and why is there so much debt? Are all these conditions inevitable or are there more effective ways of ordering our economic affairs to achieve better results?
In this new book, the economist and entrepreneur John Mills confronts these questions and shows how the problems we face are not insoluble - if we are prepared to learn the lessons from the past. Drawing extensively on economic history, he demonstrates how the current policy framework is awed and how a radical new approach is needed to close the divide between those who have done well out of globalisation and those who haven’t.
At the root of our difficulties lies an economy that has been allowed to become uncompetitive because of the long-term strength of the pound and unbalanced because of the deindustrialisation that has ensued. Reversing this process calls for a commitment to re-expanding the UK’s manufacturing base that must start with an activist exchange rate policy designed to keep the price of sterling down.
"The UK electorate does not look likely to tolerate in future the static wages and lost opportunities from which far too many have suffered. Those who have done well need to pay more attention to the lot of those who have not been so lucky. Using an activist but benign exchange rate policy as the lever for doing so has a much better chance of success than any other policy option on the horizon."
Britain's Achilles Heel is out now :
Also on Amazon:
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