hmm, given this government's record, the talk of 'giving students their money back' to ease the pain of COVID19 will mean a lot of pain for universities #Marr
we could have instead @AndrewMarr9 discussing the abolition of tuition fees and a return to less commodified higher education, but I guess not.
how you get COVID19 perfect storm for universities: 1. government refuses emergency funding 2. business model reliant on accommodation/catering & foreign students 3. poor track and trace system 4. overpaid VCs forcing staff to do face to face, often without mandatory masks
rhetoric of paying consumer will see attitudes harden, so it will be more difficult for us academic staff to negotiate Corona rules with students when Senior Management prioritises face to face.
Rentoul doesnt know it but his 'good grief' reflects a monetarist choice of Bank - government relationship.
popularised by Milton Fridman, monetarism wants central banks FULLY independent from democratic decisions.
before 2008, this divorce was fully operational
the monetarist divorce unravelled during the 2008 global financial crisis.
central banks HAD TO buy government bonds and stabilise the financial system because these bonds are the arteries of modern finance, without them, booom.
#WallStreetConsensus & its failure to mobilise trillions in @FT
4 things missing:
a) hegemonic dominance of 'mobilising private finance' in development/climate
b) asking why hegemony
c) mushrooming scaling up initiatives
d) do we want success?
a) Mobilising private finance remains global game - (Bridgetown, Biodiversity COP16, 4th Financing for Development conf) & national game (UK Labour gov, Brazil/Colombia/Chile decarbonisation).
*The world's most powerful political narrative that doesnt deliver
b) hegemonic not (just) because Big Finance is powerful, but postneoliberal, transformative state cant get rid of neoliberal macro - independent central bank dominating fiscal.
without macroinstitutional change- How do we pay for transformation- only one answer: private finance
when Big Finance occupies the state and takes over the social contract, nurses struggle, grandparents struggle, parents struggle, renters struggle, private equity flourishes.
no punches pulled on the Commission's Net Zero Industrial Act, the 2022 attempt to respond to Biden's Inflation Reduction Act with a lot of derisking talk but no money (ahem, European Sovereignty Fund)
Climate policy is industrial policy, and the other way around.
An important reminder that EU's climate policy was once ambitious, state-driven decarbonisation.
the Clean Energy Finance Authority would subsidize foreign demand for US cleantech - or derisk BlackRock renewable assets in say, Kenya with subsidies/guarantees.
nothing in this proposal from a top Kamala Harris advisor suggests US should enable technology transfers to countries wishing to pursue their own domestic cleantech capabilities.
in #WallStreetConsensus, Global South are consumers of American cleantech, with American dollars.
Two amazing Global South progressives and a Nobel prize winner walk into an Oxfam panel on post-neoliberalism
Stiglitz: w neoliberalism, the growth of financial markets changed the political game tremendously
Lula 's special advisor @AAbdenur - clear mismatch - Global North openly exposing industrial policy but pushing IMF/World Bank to continue with austerity and partnerships for hyper-financialisation