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Prudent fiscal consolidation versus reckless austerity and the limits of capitalism

When Oct 30, 2013
from 06:00 PM to 07:30 PM
Where McGrath Centre at St Catharine's College
Contact Name
Attendees Philip Arestis (
Michael Kitson (
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The next St Catharine's Political Economy Seminar in the series on the Economics of Austerity, will be held on Wednesday 30th October 2013 - Andy Ross will give a talk on 'Prudent fiscal consolidation versus reckless austerity and the limits of capitalism'. The seminar will be held in the McGrath Centre at St Catharine's College from 6.00-7.30 pm. All are welcome.

ANDY ROSS was Deputy Director, Government Economic Service, until February 2013. He is recently a company director, visiting professor at Reading University and a visiting research fellow at Leeds University, where he teaches policy economics. He has degrees from the LSE, Birkbeck, Roehampton Institute and Nottingham Trent University. He is or has been a member of the Conference of Heads of University Departments of Economics, Westminster Business School Advisory Board, the CEO Group of the Academy of Social Sciences and member of Council, Economics Network board, Fellow of the Institute of Continuous Professional Development and member of the UK Strategic Forum for Social Science. He has written textbooks, been a polytechnic head of economics, a university dean, college director, university inspector, local government councillor, and 'Investors in People' reviewer. In 2000 he jointly founded the ONS micro-econometric laboratory, before moving to HM Treasury in 2004. Andy Ross led the Government Economic and Social Research team at HM Treasury with overall responsibility for the professional development for 3000 analysts. He has a special interest in the employability of economists.


As a recent close observer of economic debate in government from his position in the Government Economic Service, Andy Ross will examine the relationship between political rhetoric and public understanding on the one hand and the underlying causes and dynamics of the great recession on the other. It will examine whether the 'spin' around fiscal consolidation has been politically expedient in terms of markets, political stakeholders and the electorate; even while the policy itself may lead to self-defeating austerity and severe long term economic and social costs. It will also question if the solution to the Great Recession could ever be found now from within the standard 'stimulard versus austerian' debate, or whether we are getting closer to the limits of capitalist supply-side transformation and social cohesion.