Abstract This paper argues that the current UK fiscal framework fails to support growth-enhancing public investment while inadequately restraining debt accumulation. Frequent changes to fiscal rules, their short horizon and incentives that prioritise current spending over long-term investment have undermined economic stability and productivity growth. We propose a reformed framework centred on clear fiscal objectives, enhanced OBR analysis of long-run sustainability and a target for the primary surplus consistent with maintaining stable debt. A supplementary investment rule would ensure adequate public capital formation. Together, these reforms aim to raise productivity, support resilience and improve living standards.

Abstract There is much discussion about the inability of political systems in democratic countries to deal with a range of problems, aspects of which all to some extent relate to the current evolution of global economic growth and its environmental consequences. The paper explores some long-term underlying causes of the inability of national political systems to adapt to global markets in trade and labour. This is primarily because of how the nation state developed over the long term as a means of providing employment and basic necessities to its subjects and citizens.

Abstract Policy is often seen as the synthesis of economic and political interests of the most influential players operating in material economic structures such as industrial sectors and markets. However, this is not always the case as the formation of policies often depends only partially on the inputs from economic structures, while greater influence is exercised by the internal logics of policy processes and by shared beliefs among policymakers and the society. This paper explores this issue through a comparison of the UK and US liberalisation policies of the natural gas sector.

Abstract The design of subnational fiscal frameworks shapes how tax and spending choices affect fiscal sustainability. Using Scotland as a case, we show that its fiscal health depends crucially on how the UK Government manages its own sustainability. National and subnational fiscal sustainability are interconnected. Differences in factors like demographics and health between Scotland and the UK also influence fiscal outcomes. These dynamics must inform any debate on reforming the UK’s fiscal frameworks, especially if further devolution—including to English regions—is pursued.

Abstract Drawing on the New Economics of Labour Migration and debt overhang theories, this study investigates the joint impact of remittances and external debt on CO 2 emissions in India, Pakistan, Bangladesh and Sri Lanka from 1991 to 2023. Using balanced panel data and multi-stage estimation techniques—including pooled OLS, Driscoll–Kraay standard errors and Feasible GLS—the study finds that remittance inflows consistently reduce emissions, likely by enabling cleaner household investments. In contrast, both external debt stock and debt servicing increase emissions, suggesting that debt burdens may crowd out environmentally friendly public spending. Notably, the interaction between debt stock and servicing shows a mitigating effect, while heavy debt servicing diminishes the environmental benefits of remittances. Additionally, urbanization and financial development contribute to higher emissions. These findings highlight the need for integrated policies that direct remittances towards green investments and incorporate environmental conditions into debt-servicing frameworks, helping South Asian countries pursue more sustainable development paths.

Abstract The liberal order, as first articulated by Hobbes, depends upon an unnatural disembedding of both the economy and the polity from society. The economic and the political are keep apart. While the economy is seen as a private matter, the polity is conceived as a public one. The socially relational and mediating groups are squeezed out. Yet this involves contradiction. Is property primarily a matter of primary seizure or legal underwriting? Either the economic captures the political or vice-versa. A bad corporatism follows. The only alternative is a good corporatism recognising the priority of the social, of groups and their representation.

Abstract The UK fiscal framework, especially the fiscal rules in place, has faced widespread criticism. Since the current system was introduced, the UK’s fiscal arithmetic has worsened. The article examines practices in other countries and, going beyond rules, looks at other dimensions of their fiscal frameworks, then suggests a ‘menu’ of possible changes to improve the UK approach. Scrutiny and a variety of governance features also deserve attention. While not all practices elsewhere can be directly adopted in the UK institutional setting and some would encounter political sensitivities, many can.

Abstract Understanding today’s conflicts and compromises requires addressing the entanglement between material processes and the viewpoints of a variety of collective actors: how they understand themselves and the economy within which they act, what objectives they perceive it affords to them, and what constraints it imposes. The structural approach to economic analysis, which builds on the traditions started by Physiocracy and classical political economy, offers a vantage point to understand material processes. The paper proposes three directions to generalise it, thus making it more suitable to address the entanglement between such processes and the emergence and viewpoints of collective actors.

Abstract Amidst the global digital transformation and the expanding IT sector, particularly in Ukraine, it is essential to examine how digitalization affects structural shifts within the national economy. This study aims to analyze the impact of digitalization on the growth of Ukraine’s IT sector, focusing on comparing the economic metrics of freelancing and outsourcing and providing strategic recommendations to enhance entrepreneurial activity in this area. During the research, the methods of expert evaluations, economic-mathematical modelling, comparative analysis, and statistical data analysis were used. The research revealed that digitalization significantly influences structural changes in the national economy, particularly through the advancement of the IT sector. It was established that outsourcing has significant advantages compared to freelancing in terms of such indicators as the share of the GDP of the IT sector and the volume of exports of IT services. By analyzing the economic indicators of freelancing and outsourcing, specific recommendations were developed for the continued growth of Ukraine’s IT sector, aimed at boosting entrepreneurial activity and creating new job opportunities. The key factors influencing IT specialists’ employment choices were summarized, which is crucial for the continued development of the national economy in the context of digitalization. The practical value of this research is that its findings can be utilized to enhance Ukraine’s IT sector, particularly by backing outsourcing businesses and promoting the expansion of freelance platforms.