This week, I was lucky enough to see American social media evangelist Clay Shirky talking about his latest book, The Cognitive Surplus. Shirky argued that the new creative and collaborative possibilities unlocked by the internet will allow us to unleash this surplus – the vast reserves of time, skills and enthusiasm that we currently fritter away in front of the television – to solve some of society’s biggest problems. But, while I liked much of what he had to say, it struck me that Shirky is being both too too ambitious and too cautious. More
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.More
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.More
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.More
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.More
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.More
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.More
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
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.More
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.More