The global economy is broken. Here’s how to fix it

Tony Greenham, New Economics Foundation
Comment is free, The Guardian, 16 October 2011

Those underlying issues that led banks to the brink of disaster in 2008 remain unaddressed. Mass bailouts then have led to a crisis of sovereign debt now, along with renewed financial instability. Austerity measures cannot resolve these intertwined public and private debt crises. We’re in the midst of an ongoing economic emergency… The current system is broken, but while governments delay, nef has real, workable solutions. Break up the banks. Create new money to build new jobs and new wealth. Use quantitative easing directly to revitalise the country’s infrastructure, with a new focus on the green economy.

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