Legal aid and the market for lemons

In the wake of George Osborne’s first budget speech, many are wondering how the coalition government’s plans to cut the deficit will affect the public sector.

The case of the legal aid and human rights charity Refugee and Migrant Justice provides some rather grim warnings. The organisation is currently under administration because of changes in the funding of legal aid, which attempt to ‘marketise’ legal aid provision.


Keynes and the Treasury

In the library of the Treasury, there is an ancient copy of one of Keynes’ pamphlets, and it has been scrawled over by Treasury officials with the words ‘bankruptcy’ and ‘insanity’.

Keynes was challenging the Treasury idea, which seems to have been in their DNA since time immemorial, that the way out of recession is to get people to save not spend.  The money has to be in the banks, ready to lend.


The squeeze on society

The government wants to build a ‘Big Society’ at the same time as a imposing a very big squeeze on spending for public services.  This will not work unless spending is focused more sharply on preventing needs arising or intensifying ,and on supporting individuals and groups so that they can do more to help themselves and each other.


George is right. The crisis did start with the banks. Now it must end with the banks too.

One good thing about the budget: the recognition by George Osborne that the financial crisis began with the banks.  This was the justification for the £2 billion bank levy – though, as nef’s Tony Greenham points out, this is only a third of what they paid out in bonuses.


Delivering a people’s bank

This horrible something will include rising unemployment, bankruptcies, home re-possessions and businesses shutting down on the High Street and elsewhere. So much we know.


Why the hedge funds are on the way out

The hedge funds 'shorted' the banks, helping drive them into disaster, just as they have made a massive amount over the past week by shorting the stock market. Imagine in ten years time Chinese hedge funds shorting the US dollar, as the hedge funds did to the Far Eastern currencies in 1997. The mere possibility reveals the truth: we can't go back to business as usual. American national security rules out the old dispensation.


Green New Deal Round-Up

Naomi Klein - author of The Shock Doctrine and No Logo - kicked things off last month, when she encouraged activists to take to the streets and demand for a New Deal. Meanwhile, there are some encouraging signs that the Green New Deal Group's calls for 'creating and training a carbon army of workers' in green collar jobs are being heard in government. More

How one crunch infects the others

This is worrying, not just because it may undermine the solvency of the insurers along with the banks - a clear example of the climate crunch affecting the credit crunch - but because of recent revelations about how short-sighted our financial services are.


Five ways to well-being, and other tales

In Five Ways to Well-being, we reviewed the empirical evidence collected by Foresight from hundreds of research studies across the world. The outcome is a set of five different kinds of daily activity that, according to the latest and best evidence available, promote well-being and help to buffer against mental health difficulties.


Blame the system

It was especially interesting to hear how John Humphrys went straight for the five ways when interviewing Professor John Beddington on Today this morning. Humphrys claimed that our suggestions were a bit obvious and Pollyannaish, and the fact that people weren't already doing them meant that they had somehow "chosen" not to.


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