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As free-market globalisation recedes, countries from the US to the UK to China are embracing national capitalism.
We have entered a new economic era of higher public spending and greater government intervention.
If inflation is not controlled early, it will be those on lower incomes who are less able to cope.
If the question is how do we extract more from the richest, corporation tax is not what you would prioritise.
In his New Statesman article, Andy Haldane urges the Bank of England to intervene early to ward off the threats posed by “the tiger” of inflation.
This is a dangerous moment, not just for central bankers but for the wider economy.
The minimum global corporate tax rate shows the power elected governments can wield against multinational corporations.
It’s time society gave more to those who have no desire to “escape” their class and who simply want to live a decent, dignified life.
Despite generating almost $45bn in profits between 2018 and 2020, Amazon paid just $1.9bn in US federal income tax.
Joe Biden has halted the “race to the bottom” that has prevailed since the free-market revolution of the 1980s.
Wage rises and mild inflation, after decades of stagnant real pay and deflationary pressure, would be no bad thing.
