Surely, since the financial crisis of 2008 the theories of neoliberalism should be dead in the water. Nevertheless, after 40 years of the neoliberal global free market approach, the acolytes of these schools are in the majority in almost every economic institution and many politicians remain under their spell.
The EU Commission is a sad example of this. It is still using every opportunity to try to force its member states to privatize their assets, for example the railways and the water supply. The latter has currently been brought to a temporary halt by the people’s Right2Water movement. If you look at the sad outcomes of privatization for the railways and the water industry in the UK you can only despair at the EU’s inability to learn. Today over 70% of UK citizens want a renationalization of the railways. The EU on the contrary ".....introduces mandatory tendering for public service contracts in rail" from 2019 on.
Everybody who is interested in the future should therefore get some basic economic knowledge under their belt. Otherwise they will be easily fooled by politicians, experts of certain economic schools, ideology and toxic theories. Here are some important economic questions for you to consider:
The Royal Society for the encouragement of Arts, Manufactures and Commerce (RSA) has promised an “…. open online course and public podcast series to allow any citizen to inform themselves and to engage with the economic debate.” (Economics for everyone, Prospectus for the Citizens’ Economic Council, page 25)
Ha-Joon Chang: Economics: The User’s Guide;
Pelican Books, published by Penguin Group, London, 2014
Joseph E. Stiglitz, Winner of the Nobel Prize: The Euro and its Threat to the Future of Europe; Allen Lane, imprint of Penguin Books, London, 2016
Yanis Varoufakis: The Global Minotaur; America, Europe and the Future of the Global Economy; Zed Books, London, 2015
Yanis Varoufakis: And the Weak Suffer What They Must? Vintage, part of the Penguin Random House Group, London, 2017
Niko Paech: Befreiung vom Überfluss. Auf dem Weg in die Postwachstumsökonomie, oekom 2016;
Wolfgang Streeck: Buying Time - The Postponed Crisis of Democratic Capitalism, Verso, 2014;
Wolfgang Streeck: Gekaufte Zeit – Die vertagte Krise des demokratischen Kapitalismus, Suhrkamp Verlag, Berlin, 2013, 2015
F. A. Hayek: The Road to Serfdom, The University of Chicago Press, Routledge, London, 2007
Hans-Werner Sinn: Der schwarze Juni, Herder, Freiburg im Breisgau, 2016;