Key people in Balanced Economy Project
Balanced Economy Project was founded in 2021 by Nicolas Shaxton and Michelle Meagher with help from John Christensen at Tax Justice Network.
Nicholas Shaxton is a journalist and writer specialising in financial abuses. His books (including the 2011 'Treasure Islands' about tax havens) and films (including the 2016 'Spiders Web') have played an important role in popularising understanding of widespread corporate financial abuses.
Michelle Meagher is a competition lawyer who has worked for regulators and international institutions. She also became well known for writing the excellent 'Competition is Killing Us' which details the serious consequences of the failure to regulate corporate monopolies effectively in the 21st century.
Tax Justice Network (TJN) has been a long-time ally of Ethical Consumer's work around tax and of the Fair Tax Mark particularly. John Christensen was one of the founders of TJN in 2003.
TJN provided incubation and partial funding of the Balanced Economy Project in 2021. Reassuringly, Balanced Economy Project secured grant funding in 2024 to recruit and grow, though individual donations play a critical role too.
Sign up to its Counterbalance newsletter
One of the core outputs of Balanced Economy Project are its weekly email newsletters called The Counterbalance. These unpick abuses of corporate power in detail and usually specialise in one sector at a time. In the summer for example they ran a series on monopolies in the music industry. Before that they looked at private equity in healthcare.
Much work is focused on the critical impacts of tech monopolies.
Collaboration on policy papers
The other main way they tend to operate is to work on publishing lobbying or policy papers in collaboration with other campaigners across Europe. Here, by way of example, are three recent ones.
1) Taken Not Earned
To coincide with the Davos conference in January 2024, they published a report in collaboration with Global Justice Now and others called "Taken, not earned: How monopolists drive the world’s power and wealth divide".
The report argued that concentrations of corporate power were "fuelling inequality and division, undermining democracy, worsening the climate crisis, manipulating people in insidious ways, and fundamentally altering how we communicate and interact with each other".
2) Rebalancing Europe
In April 2024 they were involved in a report called "Rebalancing Europe: a new economic agenda for tackling monopoly power". Another collaboration with a range of organisations including the Dutch Centre for Research on Multinational Corporations (SOMO), it argued for the EU to begin a new way of thinking around monopoly regulation of the kind that Michelle Meagher was proposing in her book mentioned above.
Although the report talked about 'innovating structural remedies', it would have been great to see it exploring the idea of 'equity fines' too. This is one of the approaches that Ethical Consumer is supporting as a potentially transformative way forward.
3) Beyond Big Tech
In September 2024 they were involved in another publication called "Beyond Big Tech: A framework for building a new and fair digital economy." The other partners were IT for Change and People vs Big Tech. The paper was accompanied by a Beyond Big Tech manifesto, signed by more than 70 civil society organisations.
Critical elements of their vision included the eminently sensible ideas of: using competition law to break up big tech; using digital services taxes to address extreme tax avoidance; enforcing human rights safeguards; and investing in a public digital infrastructure.
More information on the Balanced Economy Project, on how to sign up for the Counterbalance newsletter, and on how to donate is available on their website.
Founded: 2021
Based: Remote working
Income (est): £200,000
Featured in Ethical Consumer Magazine 217.