The People's Economics

Stephen Lee

About this book

In 1930, John Maynard Keynes wrote “Economic Possibilities for our Grandchildren”, predicting an age of leisure in a couple of generations. We've had strong economic growth since then, so why aren't we there yet? With the world supposedly getting richer all the time why are so many struggling to get by? Economics predicts movement towards equilibrium, which ought to lead to greater equality, so why are we seeing more inequality in our societies? And why is there unemployment? Shouldn't the free market make it easy for anyone to convert their labour into what they want? These are some of the questions posed in The People's Economics. It takes a look at our spending on education, housing and healthcare and asks whether we're really spending our money in the best way to meet our needs. It doesn't have all the answers, but it does give a pointer to the direction economics ought to take to provide an answer to these questions, and so move towards the age of plenty which is within our grasp.