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About Ann Pettifor

Ann Pettifor is a Director of Policy Research in Macroeconomics (PRIME). In 2003 she edited ‘The Real World Economic Outlook’ (Palgrave) with a prescient sub-title: ‘the legacy of globalisation: debt and deflation’. In 2006 Palgrave published her book: “The coming first world debt crisis”. In 2008 she co-authored “The Green New Deal” and in 2010 co-authored an essay with Professor Victoria Chick: “The economic consequences of Mr. Osborne.”

Articles by Ann Pettifor

This week's editor

En Liang Khong

En Liang Khong is openDemocracy’s assistant editor.

Constitutional conventions: best practice

The cracks begin to show: a review of the UK economy in 2015 (part two)

Thus, the ultra-flexible UK labour market (“with employers in the driving seat”, in the government’s own charming words) – to be enhanced by the repressive new Trade Union Act – has had the effect of causing productivity to fall. Read part one here.

The cracks begin to show: a review of the UK economy in 2015 (part one)

On the first day of 2016 trading the FTSE 500 index nosedived. This surprised perennially optimistic business commentators, but will not surprise those who read the EREP review of the UK economy in 2015. Read part two here.

Reactions to Mr Osborne’s autumn statement

Today, UK's Chancellor George Osborne set out the Conservative Government’s fiscal plans for the current Parliament and beyond. First reactions to the Chancellor’s speech from four members of the network Economists for Rational Economic Policies (EREP).

Is capitalism ’mutating’ into an infotech utopia?

“He needs to take into greater account the impact of technology on both increased exploitation of labour and the dominance of the finance sector.” Review of Paul Mason’s ‘PostCapitalism: A Guide to Our Future’ (Allen Lane, 2015) 

Why I disagree with Positive Money and Martin Wolf

Outlandish proposals granting huge powers to control the money supply to a committee of men would above all ensure things stay just as they are. Positive Money are wrong to call for the abolition of credit creation.

Just Money, introduction

In this exclusive extract from Just Money: How Society Can Break the Despotic Power of Finance Ann Pettifor describes how orthodox economics and finance have promoted a profoundly inadequate account of money. Change is necessary and possible. But it will come only through a revolution in the general public’s understanding.

We can end the despotism of finance, at a price

To mark the publication of Ann Pettifor's e-book, Just Money: How Society Can Break the Despotic Power of Finance, OurKingdom are running a series of articles that explore the nature of money and the politics of the financial system. Here Pettifor launches the series and introduces some of its key themes.

The Eurozone crisis: what way forward?

The simple truth unpalatable to Eurozone authorities is that small peripheral EU economies and even big economies like Spain and Italy, are victims, not designers of the liberalised financial architecture that was built way back in 1992, repeating earlier twentieth century failed experiments that led to financial crisis, immiseration and war.

The power to 'create money out of thin air'

Understanding capitalism's elastic production of money and moving on beyond Adam Smith and 'fractional reserve banking' - Ann Pettifor reviews Geoffrey Ingham's Capitalism

If the god Janus were an economist, he would work for the IMF

The IMF may be quietly ackowledging the failures of stringent fiscal consolidation but much damage has already been done. With over a thousand economists and a wealth of evidence at their disposal a mea culpa is long overdue.

Vultures are circling the carrion of sovereign debt

In the struggle between Argentina and a "vulture fund", a New York judge has sided with the vultures. It's a move that could have significant consequences in Europe. Public pressure may yet force a turning point: the introduction of an agreed process for sovereign default.

An open letter to the leaders of Europe: abandon the Euro's 'gold fetters'

European leaders need to abandon the fetters that chain them to the interests of private wealth, and threaten European disintegration.

How globalisation ends: debtonation-day, plus two

The market-panic of 9 August 2007 signalled the end of the neo-liberal era of financial excess. But the world is still paying for the consequences, says Ann Pettifor. 

(This article was first published on 10 August 2009)

Beyond the triple crisis: a green new deal

An imaginative and radical set of policies is needed to address the triple crunch of debt, peak oil and climate change, says Ann Pettifor.

(This article was first published on 27 October 2008)

The week that changed everything

The United States-centred financial crisis will damage the lives and futures of savers, employees, businesses and consumers across the world. All the more reason to address the systemic failures that led to it, says Ann Pettifor.

America’s financial meltdown: lessons and prospects

The international debt crisis symbolised by the collapse of Lehman Brothers and the forced sale of Merrill Lynch exposes the failure of the world's financial architecture. Ann Pettifor, whose openDemocracy article predicted the crisis in 2003, explains and looks ahead.

(This article was first published on 16 September 2008)

The global financial mess: blaming the victims

The balloon of irresponsible debt on which globalisation floated started to burst in August 2007. A year on from "debtonation day", Ann Pettifor surveys the wreckage, pinpoints the culprits, and outlines the solutions.

(This article was first published on 8 August 2008)

The G8 in a global mess: 1920s and 1980s lessons

The precedent of the United States's great depression and Japan's post-bubble collapse should haunt today's G8 summiteers, says Ann Pettifor.

(This article was first published on 7 July 2008) 

Globalisation: sleepwalking to disaster

The scale of global debt reflects a broken financial and commercial system that is doing immense damage to the planet and to public life, says Ann Pettifor.

Debtonation: how globalisation dies

The global financial crisis exposes the failure of the economic model that rules the world. Ann Pettifor saw it coming.

Gleneagles, 7/7 and Africa

The effect of the London bombs was to aid the powerful and damage the weak. Campaigners for global justice must not be deflected, says Ann Pettifor.

Ethiopia: the price of indifference

The rich world’s blocking of debt relief for Ethiopia, the world’s poorest country, creates a terrible burden of complicity.

The coming first world debt crisis

The reckless financial policies of leading western powers in the last two decades make it likely that the next seismic debt crisis will be in America, not Argentina. It can be avoided, says Ann Pettifor of the Real World Economic Outlook, only by serious efforts to bring regulation and balance to the international economy.
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