A Colyton author has published a book on UK politics and economic policy, arguing that the current national development is ‘on entirely the wrong course’.

Andrew Blackwood’s book criticises ‘the absurdity’ of focusing on economic growth, and describes the benefits of creating a more just and equal society.

In it, he puts forward recommendations for a reformed, ‘social’ capitalism ‘that would better serve the interests of the economy, the community and the individual’.

Social Capitalism: The End of Neo-Liberalism and Where We Go Next explains that developed economies with greater equality of incomes have a lower incidence of many social problems, including mental illness, child bullying and low life expectancy. It argues that greater equality makes growth less necessary and benefits those on high incomes as well as the poor.

In his summary of the book, Mr Blackwood says ‘some important conceptual myths need to be demolished: about the misunderstood role of the individual in modern society, about the absurdity of focusing on economic growth, about the unsustainability of current social inequalities and how they can be overcome, about the mirage of social mobility and the future of work. These issues can only be appreciated in their historical context – currently a yawning gap in any discussion of our current predicament’.

He proposes that the capitalist free market should be reined in, and the growth of GDP should be abandoned as a target, as it does not by itself improve life for the poor or create better social wellbeing. Instead, there should be measures to create a fairer and more financially equal society. This would involve classing certain basic goods and services as essentials, protecting them from indirect taxation, and increasing taxes on wealth and property. He also recommends a re-evaluation of work, tackling over-production, under-employment and lack of job security.

Mr Blackwood said: “The book, though long, is certainly not full of dense economic arguments, but contains a wide historical perspective to show how our current national development is on entirely the wrong course. It is intended to be readable for the average person.”

Social Capitalism: The End of Neo-Liberalism and Where We Go Next is published by Austin Macauley at £14.99, and is available from bookshops in Sidmouth and Axminster.