Should morals be a part of economics? Here's what principles, experts say

In his new book, economics professor Paul Collier has set out an 'alternative in which the means are infused with a moral purpose'

There is no one way of understanding the bases of, or justification for, austerity. If there was, there wouldn’t be such voracious debate around the topic. A recent televised discussion provides a perfect example of this.

In it, Labour National Forum’s Grace Blakeley drew an analogy with a business that fails to invest in the resources necessary to operate successfully: “It would be like a bar [saying], I’m going through hard times, so I’m selling all my bar stools, I’m going to close an extra day a week and I’m going to stop selling more expensive beer.” For Blakeley, austerity is