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ERIC Number: EJ899962
Record Type: Journal
Publication Date: 2010-Apr
Pages: 3
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: ISSN-0955-2308
Think before You Cut
Pettifor, Ann
Adults Learning, v21 n8 p26-28 Apr 2010
With the main political parties set on reducing public spending, one might be forgiven for supposing that "savage" cuts are the only way forward. However, the author believes there are alternatives, and that is why public education about the financial system is so important. Today, UK is trying to clear up a mess--a mess made by the greedy and excessive explosion of unregulated credit-creation, which, while the party was on, excessively enriched a few. This mess was created by the ideology of "easy" but expensive credit (i.e. credit lent at high rates of interest). The real worry is this: in a deflationary environment the cost of debt (including interest rates) rises. That is why it is essential to make a strong effort to understand finance and economics--monetary policy as well as fiscal (taxation) policy--and not let the boys in pinstripe suits run the economy.
National Institute of Adult Continuing Education. Renaissance House, 20 Princess Road West, Leicester, LE1 6TP, UK. Tel: +44-1162-044200; Fax: +44-1162-044262; e-mail: enquiries@niace.org.uk; Web site: http://www.niace.org.uk/publications/adults-learning
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Adult Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: United Kingdom