Posts by Tony Payne

Professor Tony Payne, Professorial Fellow, SPERI

Understanding the IMF better

Tony Payne

The Fund does make normatively driven interventions in ideologically charged economic policy debates, but not always from the perspective imagined and often with only limited impact The paradox of the International Monetary Fund (IMF) is that it has been around for so long and is so familiar a part of the institutional apparatus of the global political economy that we … Continue reading

23 April 2018 by Tony Payne
Categories: SPERI Comment Tags: , , ,

Don’t depoliticise inclusive growth!

Tony Payne

The endeavour to set out and implement a new vision for more inclusive growth will fail if it is not treated fundamentally as a matter of political economy, rather than an aspect of social policy The inclusive growth agenda is undoubtedly being talked about in a more mainstream way than was the case even a few years ago when the … Continue reading

16 November 2017 by Tony Payne
Categories: SPERI Comment Tags: , , , , ,

The strange still-birth of ‘Milimayism’

Tony Payne

Britain just can’t generate the politics with which to build the new reformist consensus its political economy so badly needs A key problem for Britain at the moment is that it can’t give birth to the politics that its political economy needs.  Marxists used to think this was impossible, believing that the sub-structure (political economy) would always determine the super-structure … Continue reading

11 September 2017 by Tony Payne
Categories: SPERI Comment Tags: , , , , , ,

Remaking the case for a ‘developmental state’ in Britain

Tony Payne

Britain urgently needs a new national development strategy after the Brexit vote and must find the will to embrace a radically different model of the state Sometimes you just have to say it again, doubling down on what you think. In one of the first posts I wrote on this site in 2013, I proclaimed: ‘We are all developing countries … Continue reading

23 March 2017 by Tony Payne
Categories: Inclusive Growth, SPERI Comment Tags: , , , , , , , , , , ,

‘De-globalisation’, or ‘re-globalisation’?

Tony Payne

The former is the new project of the populist right; the latter needs to be the new vision of the centre-left Globalisation is under attack these days from all quarters. It has of course long faced criticism from the left for being divisive and undemocratic.  That’s not new.  But, remarkably and in an act of brazen but effective political theft, … Continue reading

23 January 2017 by Tony Payne
Categories: SPERI Comment Tags: , , , , , , , ,

The politics of reforming capitalism in Britain: Part II

Tony Payne

Two competing and ultimately incompatible visions exist on the right and now sit in tension at the heart of Theresa May’s government As I noted last week, there is another side to the debate about reforming capitalism in Britain. It is located on the right of politics, not the left, and, in case you missed it, it’s the right in … Continue reading

12 October 2016 by Tony Payne
Categories: SPERI Comment Tags: , ,

The politics of reforming capitalism in Britain: Part I

Tony Payne

The Labour approach being shaped by Corbyn and McDonnell has yet to find a politics that will work and will not do so if it comes to be seen as fundamentally anti-capitalist With Jeremy Corbyn emphatically re-elected to the leadership of the Labour Party and Theresa May basking still in the glow of her sudden elevation to Downing Street, it’s … Continue reading

6 October 2016 by Tony Payne
Categories: SPERI Comment Tags: , , , , ,

‘Who dun Brexit’: ‘globalisation’ or global neoliberalism?

Tony Payne

These two phenomena need to be distinguished in order to expose some of the conceptual camouflage being thrown up about the cause of Brexit We are now already a month into the great Brexit debate in Britain. It’s been extraordinarily interesting, even for people depressed by its initiation.  The good news is that it has been substantially more sophisticated in … Continue reading

27 July 2016 by Tony Payne
Categories: SPERI Comment Tags: , ,

The Coming Crisis: why global governance doesn’t really work

Tony Payne

Serious problems undermine the current regime and create a significant ‘global governance deficit’ Nobody can say that the major institutions of global governance haven’t noticed the possibility that a further global economic crisis might be brewing. The World Bank warned in January this year that a ‘perfect storm’ could be building in the global political economy. It was worried by … Continue reading

15 June 2016 by Tony Payne
Categories: SPERI Comment, The coming crisis, Tony Payne Tags: , ,

Plotting against the NHS

Tony Payne

A closely interconnected health policy community in Britain has grabbed control of the agenda and seeks to make further marketisation of healthcare the only possible option Earlier in the year I was admitted to hospital for an operation and so I necessarily engaged with the NHS more intensively than at any other point in my lifetime. Don’t worry, though, dear … Continue reading

23 March 2016 by Tony Payne
Categories: Economics, Politics and policy, SPERI Comment, Tony Payne Tags: , , , ,

Facing up to the impending UK referendum on the European Union

Tony Payne

The best way to counter the threat constituted by the referendum is to show that the EU can be remade to work better in the democratic service of its citizens At some point during the course of 2016, either in the summer or the autumn, it looks as if that fateful moment when the British people decide whether or not … Continue reading

5 January 2016 by Tony Payne
Categories: Economics, Employment, Euro, Europe and the EU, SPERI Comment Tags: , , , , , , ,

What is meant by the centre in political analysis?

Tony Payne

There are good grounds for thinking that the concept rests at heart on an acceptance of what Weber called ‘an ethic of responsibility’ All the talk at the moment is about the centre ground in politics, especially in Britain but also more widely too in other parts of Europe. Conventionally, this is understood as the central part of an ideological … Continue reading

21 October 2015 by Tony Payne
Categories: Political theory, Social science, SPERI Comment, Tony Payne Tags: , , , , , , , ,

What next for Labour’s ABC tendency

Tony Payne

The party desperately needs to go back and come fully to terms with what went right and what went wrong during the Blair/Brown era Many words have been spilled already on the Corbyn phenomenon and more will be added today as Labour’s new leader speaks to the party conference for the first time.  The winners of elections always necessarily generate … Continue reading

29 September 2015 by Tony Payne
Categories: Politics and policy, SPERI Comment Tags: , , , , , , , , , ,

Inequality Redux: Conclusion

Tony Payne

This post concludes the series of posts written over the past couple of months by SPERI staff on the different dimensions of inequality that can be identified in the contemporary political economy of Britain.  It notes that inequality has not, however, taken centre-stage in the current British general election campaign.  It asks why the Labour Party in particular has not … Continue reading

23 April 2015 by Tony Payne
Categories: Inequality, Politics and policy, SPERI Comment, Sustainability Tags:

Turkish delight

Tony Payne

The Presidency of the G20 has now passed to Turkey, but the global political economy looks like remaining dangerously under-governed Did you know that, on 1 December 2014, the Presidency of the G20, the world’s self-proclaimed ‘premier forum for our international economic co-operation’, passed to Turkey?  Are you aware that the global political economy’s new leader in this respect is … Continue reading

17 February 2015 by Tony Payne
Categories: G20, Politics and policy, SPERI Comment Tags: ,

The changing political economy of oil

Tony Payne

The recent big fall in price creates some space for new thinking, but also poses questions to which we don’t have answers The price of oil has been falling.  Last Friday the price of a barrel of Brent crude, the standard benchmark, dropped to US$61.85, its lowest figure since July 2009.  It was as high as US$115 in June this … Continue reading

16 December 2014 by Tony Payne
Categories: Economics, Environment, G20, Global crisis, Politics and policy, SPERI Comment, Sustainability, Tony Payne Tags: , , ,

Is neoliberalism at last unravelling in Britain?

Tony Payne

The crisis of the British political economy has now become an urgent crisis also for British politics I just don’t understand why mainstream political commentators in Britain are not shouting about it in every column and appearance on radio and television.  But it can be said in no uncertain terms on the SPERI blog: the unfolding crisis of the British … Continue reading

5 November 2014 by Tony Payne
Categories: Politics and policy, SPERI Comment Tags: , , , , , , , ,

Piketty at last!

Tony Payne

This is a remarkable book, but not necessarily all that it has been proclaimed to be I came very late to Piketty’s party.  Contrary to received opinion outside the fold, the working routine of the modern university does not leave much time for reading books that are 685 pages long.  I’ve therefore had both the advantage and disadvantage of observing … Continue reading

18 September 2014 by Tony Payne
Categories: Economics, Inequality, Political theory, SPERI Comment, Tax, Tony Payne Tags: ,

The end of the G8

Tony Payne

Russia’s expulsion from the G8 concludes a transitional phase in the governance of the global political economy Tomorrow the leaders of the G8 group of countries should have been meeting in the Black Sea resort of Sochi in Russia in what would have been the latest in a long line of such summits dating back to 1998.  But, instead, with … Continue reading

3 June 2014 by Tony Payne
Categories: G20, SPERI Comment Tags: , , , ,

Exploring North-South issues in the political economy of England

Tony Payne

The HS2 rail project is underpinned by a flawed political economy that needs challenging Over the years I’ve written a lot about North-South issues in the global political economy. Yet, until now, I’ve never said a word about North-South issues in England, my own country of birth and residence. But the more I think about the way this debate is … Continue reading

20 May 2014 by Tony Payne
Categories: Business, Economics, SPERI Comment, Tony Payne Tags: