Five ideas for a budget for growth
Article
The cutting edge of economic thought makes clear that wealth creation has been driven by the development of a specific kind of capitalist market economy, combining relatively free markets with supportive state institutions. Removing restraints and 'liberating' people and businesses from the state is entirely misguided, because it incorrectly identifies the key players in the growth game. It isn't individuals that drive growth: it's ecology. More specifically, the right 'ecology' involves a configuration of state and markets that facilitates the process of economic evolution.
But what does this mean in practical terms? We suggest this understanding of growth and the conditions best suited to it has at least five implications, five ideas for growth, five things we would like to see come out of George Osborne's red box.
Related items
A people-focussed future for transport in England
Our findings from three roundtables on the impact of transport in people’s lives and the priorities for change.Progressive renewal: The Global Progress Action Summit
A quarter of the way through this century, change is in the air. Everyone, everywhere, seemingly all at once, wants out of the status quo.Insurgent government: How mainstream parties can fight off populism and rebuild trust in politics
Across the western world it feels like a sea change is occurring in our politics. At the heart of this is a simple fact: large numbers of people increasingly feel that mainstream politics is failing to deliver for them.