Decaying infrastructure and a lack of investment in education and innovation expose the weaknesses of an overly market-driven paradigmRead More
What went wrong?
Reducing the role of the state in the economy was seen as the best way to ensure high levels of growth.Read More
New Economy in Progress
The challenges of our time require us to rethink the role of the state and the need for a more active fiscal policy.Read More
CHART: The steep decline in net public investment
Total capital expenditure minus the cost of replacing worn-out depreciation of assets.
5 possible ways that are discussed to redefine the role of the state
- Boost investment in education, healthcare, infrastructure. This could more than pay for itself.
- Use fiscal policy as a tool for macroeconomic stabilization and to boost economic activity
- Use of state as an entrepreneurial actor, investing in and deploying new technologies.
- Central banks could distribute money directly to citizens in an attempt to boost consumer confidence and consumption.
- Demonstrate the indispensability of the state by tackling monopolistic capitalism.