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People's Quantitative Easing
People's Quantitative Easing (PQE) is a policy proposed by Jeremy Corbyn during the 2015 Labour leadership election in August. It would require the Bank of England to create money to finance government investment via a National Investment Bank. Policy Corbyn proposes to have the Bank of England create money to invest in housing and public transport, described by Corbyn as "People's Quantitative Easing". This would aim to turn the UK into a high-skill, high-tech economy and to build more council houses in order to lower long-term housing benefit costs. To achieve this, the Bank would purchase bonds for a state-owned "National Investment Bank". The policy is based on ideas put forward by Richard Murphy. Murphy argues it is a policy designed for use in 2020, in the event the economy remains flat despite traditional quantitative easing, with low inflation, low interest rates, high unemployment and low wages. If the economy is growing strongly, PQE would not be needed as increasin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jeremy Corbyn
Jeremy Bernard Corbyn (; born 26 May 1949) is a British politician who served as Leader of the Opposition and Leader of the Labour Party from 2015 to 2020. On the political left of the Labour Party, Corbyn describes himself as a socialist. He has been Member of Parliament (MP) for Islington North since 1983. Corbyn sits in the House of Commons as an independent, having had the whip suspended in October 2020. Born in Chippenham, Wiltshire, and raised in Wiltshire and Shropshire, Corbyn joined the Labour Party as a teenager. Moving to London, he became a trade union representative. In 1974, he was elected to Haringey Council and became Secretary of Hornsey Constituency Labour Party until being elected as the MP for Islington North in 1983; he has been reelected to the office nine times. His activism has included roles in Anti-Fascist Action, the Anti-Apartheid Movement, the Campaign for Nuclear Disarmament, and advocating for a united Ireland and Palestinian statehood ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HSBC
HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 trillion in assets under custody (AUC) and $4.9 trillion in assets under administration (AUA), respectively. HSBC traces its origin to a hong in British Hong Kong, and its present form was established in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991; its name derives from that company's initials. The Hongkong and Shanghai Banking Corporation opened branches in Shanghai in 1865 and was first formally incorporated in 1866. HSBC has offices in 64 countries and territories across Africa, Asia, Oceania, Europe, North America, and South America, serving around 40 million customers. As of 2022, it was ranked no. 38 in the world in the Forbes rankings of large companies ranked by sales, profits ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Investment Bank
The European Investment Bank (EIB) is the European Union's investment bank and is owned by the EU Member States. It is one of the largest supranational lenders in the world. The EIB finances and invests both through equity and debt solutions projects that achieve the policy aims of the European Union through loans, guarantees and technical assistance. The EIB focuses on the areas of climate, environment, small and medium sized enterprises (SMEs), development, cohesion and infrastructure. It has played a large role in providing finance during crises including the 2008 financial crash and the COVID-19 pandemic. Since its inception in 1958 the EIB has invested over one trillion euros. It primarily funds projects that "cannot be entirely financed by the various means available in the individual Member States". The EIB is one of the biggest financiers of Sustainable finance, green finance in the world. In 2007, the EIB became the first institution in the world to issue Green bond, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Development Finance Institution
A development financial institution (DFI), also known as a development bank or development finance company (DFC), is a financial institution that provides risk capital for economic development projects on a non-commercial basis. , total commitments (as loans, equity, guarantees and debt securities) of the major regional, multilateral and bilateral DFIs totaled US$45 billion (US$21.3 billion of which went to support the private sector). Mandate DFIs can play a crucial role in financing private and public sector investments in developing countries, in the form of higher risk loans, equity positions, and guarantees.Dirk Willem te Velde and Michael Warner (2007Use of subsidies by Development Finance Institutions in the infrastructure sector Overseas Development Institute DFIs often provide finance to the private sector for investments that promote development and to help companies to invest, especially in countries with various restrictions on the market. Some development banks i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Modern Monetary Theory
Modern Monetary Theory or Modern Money Theory (MMT) is a heterodox * * * * * * macroeconomic theory that describes currency as a public monopoly and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires.Warren MoslerME/MMT: The Currency as a Public MonopolyTymoigne, Éric; Wray, L. Randall (November 2013)"Modern Money Theory 101: A Reply to Critics" Levy Economics Institute of Bard College. Working Paper No. 778. MMT is opposed to the mainstream understanding of macroeconomic theory and has been criticized heavily by many mainstream economists. MMT says that governments create new money by using fiscal policy and that the primary risk once the economy reaches full employment is inflation, which can be addressed by gathering taxes to reduce the spending capacity of the private sector. MMT is debated with active dialogues about its theoretical integrity, the implications o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Statesman
The ''New Statesman'' is a British political and cultural magazine published in London. Founded as a weekly review of politics and literature on 12 April 1913, it was at first connected with Sidney and Beatrice Webb and other leading members of the socialist Fabian Society, such as George Bernard Shaw, who was a founding director. Today, the magazine is a print–digital hybrid. According to its present self-description, it has a liberal and progressive political position. Jason Cowley, the magazine's editor, has described the ''New Statesman'' as a publication "of the left, for the left" but also as "a political and literary magazine" with "sceptical" politics. The magazine was founded by members of the Fabian Society as a weekly review of politics and literature. The longest-serving editor was Kingsley Martin (1930–1960), and the current editor is Jason Cowley, who assumed the post in 2008. The magazine has recognised and published new writers and critics, as well as e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Simon Wren-Lewis
Simon Wren-Lewis is a British economist. He is a professor of economic policy at the Blavatnik School of Government at Oxford University and a Fellow of Merton College. Education Wren-Lewis was educated at Latymer Upper School, Hammersmith; Clare College, Cambridge ( MA Economics); and Birkbeck College, London ( MSc Economics). Career Wren-Lewis worked for Her Majesty's Treasury as a budget-team member from 1974 to 1981. From 1976 to 1980, he worked for the National Income Forecasting Team as a senior economic assistant. From 1986 to 1990, he was a Senior Research Officer and Senior Research Fellow at the National Institute of Economic and Social Research. From 1990 to 1995, Wren-Lewis was chair in macroeconomic modelling at the University of Strathclyde. Wren-Lewis is currently an Oxford University professor of economics, teaching undergraduate and Masters of Philosophy (MPhil) students. He conducts research in economic methodology, macroeconomic theory and policy, and int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Peston
Robert James Kenneth Peston (born 25 April 1960) is an English journalist, presenter, and author. He is the political editor of ITV News and host of the weekly political discussion show '' Peston'' (previously '' Peston on Sunday''). From 2006 until 2014, he was the business editor of BBC News and its economics editor from 2014 to 2015. He became known to the wider public with his reporting on the late 2000s financial crisis, especially with his exclusive information on the Northern Rock crisis. He is the founder of the education charity Speakers for Schools. Early life Robert James Kenneth Peston was born into a Jewish family on 25 April 1960, the son of Helen Conroy and Maurice Peston, Baron Peston (1931–2016), an economist and Labour life peer. As the son of a life baron, he is entitled to the courtesy title "The Honourable", but does not use it. He attended Highgate Wood Secondary School in London. He graduated with a second-class degree in philosophy, politics and ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BBC News
BBC News is an operational business division of the British Broadcasting Corporation (BBC) responsible for the gathering and broadcasting of news and current affairs in the UK and around the world. The department is the world's largest broadcast news organisation and generates about 120 hours of radio and television output each day, as well as online news coverage. The service maintains 50 foreign news bureaus with more than 250 correspondents around the world. Deborah Turness has been the CEO of news and current affairs since September 2022. In 2019, it was reported in an Ofcom report that the BBC spent £136m on news during the period April 2018 to March 2019. BBC News' domestic, global and online news divisions are housed within the largest live newsroom in Europe, in Broadcasting House in central London. Parliamentary coverage is produced and broadcast from studios in London. Through BBC English Regions, the BBC also has regional centres across England and national news c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Labour Party (UK) Conference
The Labour Party Conference is the annual conference of the British Labour Party. It is formally the supreme decision-making body of the party and is traditionally held in the final week of September, during the party conference season when the House of Commons is in recess, after each year's second Liberal Democrat Conference and before the Conservative Party Conference. The Labour Party Conference opens on a Sunday and finishes the following Wednesday, with an address by the Deputy Leader of the Labour Party; the Leader's address is usually on the Tuesday. In contrast to the Liberal Democrat Conference, where every party member attending its Conference, in person or Online, has the right to vote on party policy, under a one member, one vote system, or the Conservative Party Conference, which does not hold votes on party policy, at the Labour Party Conference, 50% of votes are allocated to affiliated organisations (such as trade unions), and the other 50% to Constituency Lab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Advisory Committee
The British Labour Party's Economic Advisory Committee was in 2015-16 a group of economists, described as experts on globalisation, inequality and innovation, convened by Shadow Chancellor John McDonnell and reporting to Labour Party Leader Jeremy Corbyn, announced on 27 September 2015 at the Labour Party Conference in Brighton, and intended to meet on a quarterly basis to discuss and develop ideas around the official economic strategy to be advocated by the Labour Party, but not to set policy. It has been described as a way to give the Shadow Chancellor defensive cover. In June 2016 Piketty and Blanchflower left, and the remaining members of the Economic Advisory Committee announced they had decided to postpone any further meetings, in the wake of the resignation of numerous members of the Shadow Cabinet in protest over Jeremy Corbyn's leadership. Wren-Lewis cites the Labour leadership's acquiescence of Brexit as his reason for resigning from the Committee. Membership The c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Stiglitz
Joseph Eugene Stiglitz (; born February 9, 1943) is an American New Keynesian economist, a public policy analyst, and a full professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is a former senior vice president and chief economist of the World Bank. He is also a former member and chairman of the (US president's) Council of Economic Advisers. He is known for his support of Georgist public finance theory and for his critical view of the management of globalization, of ''laissez-faire'' economists (whom he calls " free-market fundamentalists"), and of international institutions such as the International Monetary Fund and the World Bank. In 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), a think tank on international development based at Columbia University. He has been a member of the Columbia faculty since 2001, and received the university's highest academic rank ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
