Posts under ‘Macroeconomics’

Did New Labour spend too much?

by Michael Burke.

It is not sufficient for big business to have secured an election victory and an overall Parliamentary majority for the Tory Party. It is also necessary to intervene in the Labour Party to ensure that its leadership also conforms to big business interests too. This currently takes the form of candidates in the leadership contest […]

Abandon austerity: we have nothing to lose but our fears

by Bryan Gould.

The aftermath of election defeat for Labour has been marked by the familiar combination of soul-searching and mutual recrimination. The remnants of New Labour bemoan the supposed failure to address the concerns of middle-of-the-road voters, and point to the lessons they believe should be drawn from Tony Blair’s three successive election victories. Those who would […]

Global economic crisis: has Labour dodged a bullet?

by Ann Pettifor.

While Labour and LibDem activists mourn, and political opportunists seize the moment, is the loss of the election such a bad thing? Might this be a good time to lose an election? I think so. The reasons can be found in both domestic and global financial imbalances, in the advance of de-globalisation trends that are […]

The Tories won a tactical victory – not an endorsement of austerity

by Mike Hedges.

The general election result was not an endorsement of austerity but was a stunning Tory tactical success. The Tories adopted a policy of defending key marginal seats against Labour and UKIP and attacking in Liberal Democrat seats. The strategy worked and lead to a Tory majority government for the first time since 1992. This was […]

Voting Labour is a necessary act in helping our movement get its act together

by Phil Burton-Cartledge.

Of course I’m voting Labour. I am an active party member of five years standing. I’ve spent the bulk of my activism this year working in marginal seats (mainly Stafford). And there’s the small matter of 261 posts on this here blog that have obsessed over the party’s twists and turns since back before I […]

The Labour dogs that didn’t bark in the night

by Michael Meacher.

This has been an odd election in several respects, not least in the degree to which policy has been largely usurped by extraneous factors – initially vilification of Miliband (which the Tories mishandled and were forced to drop), then demonisation of the Scots as though they were some foreign menace (despite pleading with them on […]

Latest growth figure fires Exocet through Tory claims of economic competence

by Michael Meacher.

The Tories couldn’t have timed it better for Labour. A week before the election the official quarterly growth figures halved to a miserable 0.3%. If this continues at the same level (and of course it may well sink lower still), it would produce an annual growth rate of just 1.2%, no better than the vilified […]

Deliberately engineered ignorance on the economy undermines Britain’s democracy

by Bryan Gould.

As with most elections, the Clinton dictum that “it’s the economy, stupid,” has held good in the general election of 2015 – with special emphasis this time on “stupid”. The debate about who has done or will do best in managing the economy has been even more confused and irrational than usual this time. It […]

Let us now take Osborne apart

by Michael Meacher.

You have to hand it to Osborne, he’s managed to manufacture an entirely false story about the economy and get it accepted as the official narrative explaining what’s happened. First he has tried to make out after 2010 that the financial crash in 2008-9 occurred because the Labour government splurged on spending. But this is […]

Greek myths retold: confronting the ideologues of austerity

by Michael Burke.

The world economy is not strong and the President of the United States is sufficiently concerned about new shocks to it that he recently met the Greek Finance Minister to urge ‘flexibility on all sides’ in the negotiations between the Syriza-led government and its creditors. US concern is fully justified. In any attempt to reach agreement it […]

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