PUTTING THE POLITICAL BACK INTO ECONOMY

The apparent return of "Greek Riot Dog Kanellos" to the political scene co-incides with the latest crisis in that country's economy. With the conditions of Greece's earlier bailout proving too onerous, the European sovereign debt problem has come to the fore yet again and with it questions over the sustainability of the Euro. However, the Euro will survive, whatever the fate of the Greeks, because politics and economics are inextricably linked. Germany will continue to back the Euro, to which Chancellor Angela Merkel only yesterday ascribed the renaissance of her country's economy. In addition, the Euro has strong support amongst countries outside Europe such as Russia, who want a reserve currency alternative to the United States Dollar.

As a Eurosceptic nation, this wider significance of the Euro is not generally reflected in the British media. UK Sterling is, after all, the world's third largest reserve country, with the Euro in second place. There are many here no doubt who would like this situation reversed, and media coverage of the European political economy tends to reflect this. My observation, incidentally, is not intended to support the case for Britain joining the Euro, which I accept is unforeseeable at the present time. What I do want is much better and more balanced coverage of Eurozone issues over here. BBC Trust Chairman, Lord Patten please take note.

For if one is to believe its media, Britain is a nation increasingly obsessed with money, sex and, or so it seems, death, but rather less interested in religion, science and technology. Ideology, however, does not seem to register on the radar of the national psyche. This is a serious problem because politics and economics are not just about sex and money, and they are certainly not a science. Yet notwithstanding our apparent reluctance to recognise the role of ideologies, these nevertheless exert an imperceptible control on issues which the British regard as important, and thus need to be "outed" rather more than the dalliances of our politicians.

As I noted near the beginning of this blog in 2006, the international theatre director Peter Hall has observed that sex is used to divert attention away from politics in Britain. A new website called http://www.sexymp.co.uk/ reflects this very well. It has, therefore, occurred to me that a survey of the open ideological affiliations, as well as more covert sympathies, of Members of Parliament and the House of Lords is called for at the present time. Casting around for a potential sponsor for such a survey, august media institutions like the Financial Times and Economist Group spring to mind, but perhaps it is rather to some foreign media organisation that I should look.

BBC Analysis: Mis-Selling of Financial Services

Juxtaposition of the repeated BBC radio 4's Analysis with the second airing of Money Box yesterday evening created an opportunity for some interesting reflection, but before giving this I want to tell a short cautionary tale.

In the early 1990s, I worked for a professional services firm in a tallish office building opposite the Old Bailey. The young star economist of my group, which occupied an upper floor of the building, came in one weekend to dabble with his computer model. Feeling that his brain was in need of increased oxygenation, he endeavoured to open a non-opening window with some force, very nearly defenestrating himself and causing a large pane of glass to crash to the ground in many shards.

This experience, combined with the property bust (which followed a boom) and international recession of the same era, taught me that a crash might accompany anything to do with economists and their supposedly scientific discipline.

Fast forward to yesterday evening, and my second hearing of BBC Radio 4's Analysis - yes, I felt compelled to listen to this programme twice - began to ring internal alarm bells, as Janan Ganesh of The Economist made some rather astounding statements.

First of all, words to the effect of "four years on from the first intimations of the great crash" were used. Excuse me, Mr Ganesh, but many people had "intimations" of a bubble likely to burst well before 2007. Then there was reference to economic recessions arising from problems in financial services being less severe than those linked to manufacturing: this "thesis" being used by Mr Ganesh to caution the present Government against being too zealous in re-balancing the economy away from the banking sector.

In short, my response to this "analysis" was very similar to the BBC's own advisers on hearing the mis-selling of financial products to under-cover customers by the staff of major banks, as reported in the pre-ceding Money Box programme.

THE PHONEY WAR FOR MIDDLE ENGLAND

"All pigs are equal, but some pigs are more equal than others"

This doodle of a spinning pig was supposedly drawn by shadow chancellor Ed Balls during a plot to purge New Labour of Tony Blair's premiership in favour of a government led by Comrade Brown. The rest, as they say, is history.

Or it would be had today's Telegraph newspaper not chosen to remind its readers of those dark days, and thereby create a remarkable spin amongst certain sections of the chattering classes, of a kind the Balls doodle might well symbolise.

So why should Telegraph readers be interested in this old story? The answer lies in a politically modified animal which I shall call the New Labour Conservative. This creature, it should be emphasised, is not Red Tory or Blue Labour, but represents an equally important political constituency in Middle England.

The New Labour Conservative is typically a household which identifies itself as professional, and where one partner works in the public sector. This aspirational social unit was championed during the "Christian democracy" of Tony Blair's government, but wasn't so sure about Gordon Brown, particularly when the economy went pear-shaped.

However, neither has the Coalition's deficit reduction programme and proposed changes to public services gone down well with the New Labour Conservative. Incidentally, this politically modified animal includes a good many Lib-Dem (and Tory) councillors who don't like the downsizing of their fiefdoms, anymore than Liverpool Trots liked Neil Kinnock calling the shots.

However, the fact remains that New Labour created a Britain - and an aspirational Middle England in its own image - with a non-viable model of political economy. As politicians of the left, right and centre know very well, only radical structural transformation can re-create a sustainable future. The important issues in this tectonic shift, I would suggest, are the environment and a re-ordering of social well-being, as I'm sure Dr Rowan Williams would agree.

INDIA AND THE GODS OF BIG THINGS

It was something of a curry night on BBC Radio yesterday with a very interesting programme on "blogging against bribery" at 8pm on 4, and later a Night Waves interview with Arundhati Roy and Siddhartha Deb on their new books. Amitav Ghosh is on 3's Night Waves this evening.

It is testimony to the great challenges of contemporary India that the country has created some of the best English language writing of the present time, leading to an obvious comparison with Victorian literature.

Ghosh has chosen the early Victorian period for his Ibis Trilogy, the second novel of which, River of Smoke, has just been published. Speaking of the first volume, Sea of Poppies, a few years ago, Ghosh was asked to explain the book's underlying sense of optimism, notwithstanding the dire circumstances of its story. Ghosh responded to the effect that people facing great challenges in their daily lives often have a remarkable sense of hope.

Since her success with The God of Small Things, Arundhati Roy has relinquished fiction for writing about the immense social and environmental problems of modern India, and is now recognised around the world as one of the country's foremost critics of unsustainable development. In her latest book, Broken Republic, she tackles the pressures facing India's tribal peoples and their homelands, including forced eviction by government militia, and their recourse to assistance from Maoist guerrillas.

Roy's apparent support for Maoist groups drew some stern questioning from Nigh Waves host Rana Mitter, until Siddhartha Deb pointed out that a group of people interviewed for his book, The Beautiful and the Damned, who lived near a toxic waste site on the outskirts of Hyderabad, having exhausted all other options, also had to look to such groups for help.

All in all, the interview with Roy and Deb was red hot. A great shame that Mitter had to cut this short to cover items, which, although interesting, paled into insignificance compared to the earlier exchange.

MONKEY BUSINESS IN BRITISH POLITICS

This summer will see the opening in British cinemas of a prequel to "The Planet of the Apes" called "Rise of the Planet of the Apes", providing the back story to the primate plot which eventually led to their future superior species status.

As for monkey business in British politics, and particularly in local government, we should be grateful for the Tweeter called Mr Monkey for raising its profile. The Mail newspaper revealed on Saturday: one council in South Tyneside "may have an awful lot to hide".

This story obviously resonates with readers of the paper, and one commentator has urged the prime minister to act because "we are all in this together". The monkey business goes much deeper than local authorities, although these might be a good place to start.

For the business of government and public services is increasingly that of contract and asset management, usually involving close working with major private firms. Any one who has attempted to question such relationships will know how just how difficult this can be, and why resort to blogging may be the only real option available.

Corruption is to a significant extent a cultural blind-spot in British politics - personally, I regard MPs expenses as small beer - and many in government and public life will all but deny its existence on our home shores, preferring to expend energy in lambasting organisations like FIFA and foreigners in general by way of media distraction.

An alternative interpretation may be that our supposed ruling classes already live on a different planet to the rest of us.