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A wake-up call to Britain, and the global economyTHE STATE WE''RE IN, Will Hutton''s explosive analysis of British society, was the biggest selling politico-economic work since the Second World War. Now, as the world realigns itself in the wake of September 11, Hutton turns his attention to the global picture, and the ways in which the new world should be ordered.To understand the global economy, Hutton argues, one must first understand the United States where, over the past 30 years, the forces of conservatism have achieved such supremacy as to reduce liberalism to a term of abuse. The results have been dire: America is a weaker, fragmented society, and its economic strenths are oversold and misunderstood.But Britain and Europe are different: our attitudes towards property, equality, social solidarity and the public realm are strikingly distinct from Amerrica''s current conservative leanings. Europe should not be afraid to stand up against the American version of globalisation, and champion the cause of a reinvigorated international society - taking over the mantle now abandoned by the US.
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China constitutes a fifth of the world''s population. Over the last twenty years its economy has doubled to make it the fifth largest economy in the world; if the pace is repeated over the next twenty it is set to become second only to the US. The speed of its development is stunning, a combination of cheap labour and commitment to science and technology that has never been matched by a developing country. The Pearl River Delta, Shanghai and Beijing have become city-regions whose growth and embrace of modernity strike the visitor with awesome force. This is a continent on the move, recovering the world position and wealth it once had.The re-emergence of China as a superpower constitutes the biggest challenge the world has had for more than a century. Never before in modern times has the financial, trade, economic and diplomatic world pecking order been so profoundly reconstituted with the challenger country itself in the grips of incredible ideological and political change. This is a transition both internally in China and externally in the world beyond beset by hazard and risk. The world''s peace and prosperity depends upon it being executed successfully.
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The suddenness and depth of the recession has raised questions about the workability of capitalism not seen since the 1930s. One of the constraints on recovery is the growing belief that if the old model did not work there is no new one on offer. This book sets out to provide one, arguing that reconstructing a bust financial system is not just a technical question. It cannot be done without a wholescale revision of the wider system and values on which it is based. And fairness must be placed at the heart of the new capitalism if our society is to recover its values.Will Hutton''s new book musters brilliant, convincing arguments which will lend favour on both right and left. It is set to be a book which captures the mood of the moment in the same way that THE STATE WE''RE IN did.
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Britain is beset by a crisis of purpose. For a generation we have been told the route to universal well-being is to abandon the expense of justice and equity and so allow the judgments of the market to go unobstructed. What has been created is not an innovative, productive economy but instead a capitalism that extracts value rather than creates it, massive inequality, shrinking opportunity and a society organised to benefit the top 1%. The capacity to create new jobs and start-ups should not disguise that in the main the new world is one of throw away people working in throw away companies. The British are at a loss. The warnings of The State We''re In have been amply justified. Will Hutton observes that the trends that so disturbed him twenty years ago have become more marked. Rather than take refuge in nativism and virulent euro-scepticism, Britain must recognize that its problems are largely made at home - and act to change them. With technological possibilities multiplying, a wholesale makeover of the state, business and the financial system is needed to seize the opportunities by being both fairer and more innovative. The aim must be to create an economy, society and democracy in which the mass of citizens flourish. In this compelling and vital new book Hutton spells out how.
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Britain''s Brexit voters are right. They have been shamefully neglected. But the answer is to change Britain, not to leave Europe. This book sets out how we can radically improve the lives of people and communities shut out from prosperity.The EU, despite its frailties and strains, is a success story.The advantages of leaving are illusory: no gains in trade from deals with protectionist China and the United States can compensate for what is being lost in Europe. Britain is weakening a pillar of the world''s diplomatic and trade order at the same time as weakening itself - an act of self-harm, especially when so many countries are retreating from democracy, free trade and progressive values.In Saving Britain Will Hutton and Andrew Adonis set out a bold plan to transform Britain and fight for Europe as a force for good at home and abroad.
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