Comparisons with the 1930s Great depression abound in the multiple crises the world is going through. One interesting development out of Britain is the Green New Deal which was launched by the New Economics Foundation (NEF) in July 2008. Drawing on evidence from the International Governmental Panel on Climate Change a small group of activists including a Green member of the European Parliament, journalists (eg. Larry Elliot, Economics Editor of...

Kevin Rudd’s vigorous attack upon “extreme capitalism” revealed he does not understand the nature of the current crisis. This is not a meltdown caused purely and simply by rogue traders, bizarre mortgage lending, gross corporate salaries and payouts and, in general, the politics of greed. All those are symptoms of a much more systemic disease. That disease is the ideology of privatisation and deregulation, an ideology Rudd has shown no...