Posts under ‘Macroeconomics’

Four austerity parties, what is to be done?

by Trevor Fisher.

The Election in May will be the first since 1929 when there will be no clear two party choice. While the rise of UKIP and the SNP affect the Labour Party in different ways, there is an underlying consensus in England and Wales, that the four main parties likely to get seats will be pro-austerity […]

Why are we so obsessed with the deficit?

by Michael Meacher.

In general election year 1970 a last-minute delivery of two US civil aircraft to the UK arguably changed the course of the election. The great issue that year was the adverse balance of payments, and the sudden and unexpected import cost of these two planes was seen to tip the scales against the incumbent government […]

When will Labour start whacking Tories over their economic policy failures?

by Michael Meacher.

The Tories’ first election poster depicts a road wending its way through the countryside till far in the distance, with the motif below: continue with the Tory-led recovery of the economy which the Labour party wrecked. It’s a theme which will be repeated endlessly up till the election which Labour, astonishingly, has made no attempt […]

Labour can win if it’s bolder

by Peter Rowlands.

With only four months to go Labour can win, but only if two sets of conditions are fulfilled. Firstly, that there is internal discipline generating external unity, with the usual suspects forswearing any ‘advice’, at least until 7 May (Blair and Mandelson please note). This means Progress supporting the Miliband ‘ left’ line, which merely points in a […]

The German Chancellor and Grexit

by Tom Gill.

This article by Jacques Sapir originally published on his own blog is translated from the French by Tom Gill A Greek exit from the Euro, following the election on 25 January, is no longer unthinkable, Chancellor Angela Merkel admitted in the German weekly Der Spiegel on Saturday. This is an important statement, which can be analyzed in […]

Will the UK wake up in 2015 to how disastrous right-wing ideology has been?

by Michael Meacher.

The end of 2014 has certainly brought home some hard economic truths. Osborne told us he had a long-term economic plan and it was working because the UK had the fastest-growing economy in the G7. Well, it isn’t: the UK economy is now growing at only half the rate of the US economy, and even […]

Greek elections: support the popular struggle against austerity

by Newsdesk.

The following is a statement by the Greece Solidarity Campaign issued this afternoon Greece stands on the brink of momentous change. The forthcoming general election presents huge, transformative opportunities to the people of Greece – and to Europe more widely. The anti-austerity party SYRIZA – and the movement and people as a whole – has […]

Why won’t Labour tell the truth?

by Michael Meacher.

Why does Labour, when the Tories lie and lie and lie, keep on turning the other cheek? Hardly out of an excess of Christian charity, more because of cowardice in failing to confront the British people with the truth. Osborne, a snake oil salesman if ever there was one, began his time in office in […]

Deficit nonsense: right, left and centre

by Michael Meacher.

It is extraordinary that both the main parties have now put forward their plans for meeting the deficit, which is going to prove the centrepiece of the election, yet neither plan carries credibility. Osborne has once again committed the Tories to £30bn of further spending cuts on a rolling 3-year programme, i.e. currently targeted at […]

How the government’s super-platinum credit card works

by Guest.

This brilliant, witty explanatory piece by Neil Wilson first appeared at 3Spoken three years ago but is never more applicable Modern Monetary Economics shows us that monetarily sovereign governments (like the US, UK and Japan) are able to spend money before they receive any tax. That’s what puts the ‘fiat’ [Latin for “let it be […]

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