Publications

Raising Productivity examines issues including inequality, low investment, population growth, deindustrialisation, the low status of manufacturing and the power of the exchange rate, and argues that the UK's poor productivity is due to policy mistakes which if corrected could create economic expansion of up to 4% per annum, with incomes rising steadily for everyone.

Drawing extensively on economic history, Britain's Achilles Heel: Our Uncompetitive Pound demonstrates how the current policy framework is flawed and how a radical new approach is needed to close the divide between those who have done well out of globalisation and those who have not.

Brexit Economics: How to make the UK economy the powerhouse of Europe whatever happens with the Brexit negotiations examines the challenges we face and the economic steps that must be taken to remedy the UK's poor performance, low investment, trade deficits and deindustralisation.

Why Trump Won: What happens when globalisation benefits only the rich argues that the rise of populism can be traced directly to flawed and ineffective economic policies that have allowed rampant globalization to leave behind large numbers of working people who feel ignored and disenfranchised.

The Exchange Rate explains the various issues created by the world's most overvalued currency including deindustrialisation, trade deficits, too little investment and stagnant economic growth, arguing that these crises can be tackled by a more active policy of exchange-rate management.

The Real Sterling Crisis argues that the government should now devise a new economic framework that has at its centre an exchange rate policy designed to ensure the pound continues to trade at a competitive level in the years ahead. The book outlines the steps that might be undertaken towards such an approach and address head on the anxieties many have about a cheaper pound.

Written just after the UK voted to leave the European Union, Healing The Wounds sets out ways to heal our relationship with the EU, how to tackle the huge divides in society exposed by the vote, and how we can use economic policy to chart a new course and improve economic performance.

There Is An Alternative sets out an economic roadmap that could transform the UK’s long-term prospects within five years, by rebalancing the British economy in favour of exports, rebuilding our manufacturing base and weaning the nation off its dependency on borrowing.

For many decades, the West has worked on the assumption that living standards are fundamentally on an upward trajectory. You Have Been Warned challenges this view and argues that unless there are major currency realignments, the West will never hold its own in the world.

A Competitive Pound for a Stronger Economyargues that recessions happen because there is insufficient demand to keep everyone occupied productively. The only solution is more demand, not less. Mills argues that there are a number of ways in which we might reignite substantial rates of growth in the West.

An Exchange Rate Target: Why we need one explores the reasons for the UK's decades-long significant trade deficit in goods and overall current-account deficit and argues that in order to tackle this critical economic challenge the value of the pound should fall.

A Price That Matters takes a critical look at Britain's disastrous exchange rate policy and argues that the UK is in an economic mess not because it has to be but rather that it has chosen economic strategies which are deeply flawed but ultimately could easily be remedied.

A Critical History of Economics surveys of the way economics has developed, arguing that the main goal of economics ought to be to show how to achieve a combination of economic growth, full employment, low inflation, avoidance of extreme poverty and sustainability. It has failed to do so because of a combination of intellectual error and the effects of social and political pressure.

Managing the World Economy argues that faster economic growth can be achieved, and economic fortunes can be transformed in the future by much better use of available human talent. The book analyses, explains and corrects misconceptions about macroeconomic policy.

America's Soluble Problems analyses the country's slow growth, stagnant living standards for many, increasing poverty for those worst off, the hollowing out of much US manufacturing, balance of payments and fiscal deficits, arguing that changes in macro - economic policy could transform the prospects for the US economy and for most American citizens.

Europe's Economic Dilemma analyses the European Union's falling growth rate. It concludes that attempts to lock EU currencies together in inappropriate economic circumstances have led to chronic deflation, rising unemployment and falling investment and competitiveness as EU Member States.

Tackling Britain's False Economy analyses the failings of the British economy over the last two hundred years, concluding that the main cause of its relatively poor performance has been inappropriate monetary and exchange rate policies. The book then sets out an economic strategy designed to achieve much faster economic growth and a return to full employment, while containing inflation at acceptably low levels.

With a foreword by the Labour Party's shadow Chancellor of the Exchequer at the time, Peter Shore, Monetarism or Prosperity? explores the prevailing British macroeconomic policies, debates the failures of monetarism and its impacts on society, and postulates active management of the exchange rate.