Economic recovery "a phantom for ordinary people" experts say

Posted by ap507 at Jan 29, 2014 10:15 AM |
Academics from the School of Management suggest that 'economic growth' leaves 98% of the population hanging
Economic recovery "a phantom for ordinary people" experts say

Source: Wikimedia Commons

Professor Martin Parker and Dr David Harvie from the School of Management have dismissed the 1.9% growth in the British economy announced yesterday by the Office of National Statistics (ONS) as a “phantom for ordinary people”.

Professor Parker has challenged the claims made by Danny Alexander, the Chief Secretary to the Treasury, that economic growth in the UK is “well under way” and sustainable. He suggests that while there is evidence of short-term profit taking, there is little long term investment in manufacturing or regional economies.

Dr Harvie, in a similar vein, says economic growth as defined by the ONS tends to benefit only the elite and leaves the other 98 per cent of the population hanging.

Professor Parker and Dr Harvie have collaborated on a new book entitled The Companion to Alternative Organization, which suggests that conventional capitalist business and economic models are flawed, and there is a need to consider alternatives.

 

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