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Britain has experienced strong economic growth and stability over the last
decade. But we are relying on mass indebtedness to keep the economy afloat,
from individual consumer debt right the way through to the ballooning US deficit.
Capitalism is increasingly commodifying, invading the public realm and marketising
public services. It is creating higher levels of inequality, unprecedented
levels of systemic risk and major environmental problems. The UK is locked
into a 'low road' to success, based on low levels of investment and poor skills.
Present policy focuses upon deregulating capitalism and then picking up the
pieces afterwards. This is a vastly inefficient way of doing things.
In this second instalment of the three-volume Compass Programme for Renewal, the authors argue that the economy needs to be designed to promote quality of life, social justice and environmental sustainability as primary goals. Building on the proposals in The Good Society to promote equality, this book puts forward a series of policy proposals to help manage capitalism and put the UK economy onto a 'high road' to prosperity.