Posts under ‘Macroeconomics’

Is Labour doomed? Not if we end austerity

by Phil Burton-Cartledge.

Tucked away in a barely-publicised corner of The Telegraph’s web edition is this piece forecasting Labour’s possible extinction. There isn’t much to the article, the paper quotes Jon Cruddas (who else?) speculating about the possibility of Labour’s death before moving on to attack Ed Miliband’s pledge to introduce compulsory profit-sharing schemes. Let’s come back to Cruddas. In the context […]

What the 3 main parties aren’t telling you: a radical way out of austerity

by Michael Meacher.

On budget day this Wednesday (18 March), I and 16 other contributors are launching in the House of Commons our book What the Three Main Parties are not Telling You: A Radical Way out of Stagnation and Inequality as a counter-blast to Osborne’s demand for another 5 years of austerity. Mariana Mazzucato refutes the conventional […]

Osborne budget: watch out for impossible future service cuts he’d rather keep hidden

by Michael Meacher.

Osborne’s last budget in a week’s time will proclaim the usual fanfare of ‘long-term economic plan’ brilliantly succeeding, if not quite Bush’s ‘Mission Accomplished’. Forget that the deficit today is touching £100bn, not the £37bn Osborne predicted in 2010 – any private sector director who got his sums that wildly wrong would be sacked on […]

Austerity didn’t even cut the deficit

by Michael Burke.

The Coalition parties are set to feature deficit reduction as a central achievement of their time in office as part of the election campaign. The economic crisis is driven by the excessive saving of the private sector – its refusal to invest. As the government’s deficit is a response to this private sector saving, cutting […]

Why are the deficit and the balance of payments not even being debated?

by Michael Meacher.

The Tories keep priding themselves that they can pull through the election by focusing on the economy and on political leadership. The latter has now come apart in their hands as Cameron shows himself frit of a head-to-head televised debate with Miliband. But equally on the economy also the latest data are disastrous for the […]

The truth about Labour and Austerity

by Paul Cotterill.

The labour movement’s post-election battleground: Part I of II Back in January, I was invited by Left Futures to provide a response to a post by Trevor Fisher.  Trevor considers Labour a lost cause when it comes to austerity. This is his conclusion: The objective of the austerity movement is to destroy everything that Lloyd […]

The money exists for investment in Greece

by Michael Burke.

The fraught negotiations between the new Greek government and representatives of the EU institutions are likely to be prolonged. They have centred to date on Syriza’s efforts to find room to alleviate some of the worst effects of austerity and address what is called the ‘humanitarian crisis’. This is entirely justifiable given the depth of […]

Osborne thinks economy is a trump card, but it’s a joker not an ace

by Michael Meacher.

Osborne boasts interminably about success with his ‘long term economic plan’, but even the slightest scrutiny of the evidence shows that his claims don’t remotely stand up. Labour should be eating him alive. 1. After the 6-7% collapse of output brought about by the financial crisis, output per head has grown by less than 2% […]

Five questions from Costas Lapavitsas to Syriza’s leadership on their Euroland deal

by Jon Lansman.

This is a translation of a blog by Costas Lapavitsas who was Professor of Economics at London’s SOAS until he was elected as a Syriza MP this year. He is known as a Eurosceptic critic of the more Europhile stance of the Syriza leadership, though his criticisms are more reserved than those of Syriza’s 92-old […]

Italy: whatever happened to PM Renzi’s anti-austerity commmitment?

by Tom Gill.

One year after PM Renzi came to power and three governments since Berlusconi, Italy is still depressed, thanks to unending austerity programmes, writes Leopoldo Nascia (translated from the original Italian by Tom Gill) Seven years of crisis and three and half years of the political shocks they have brought, in succession, the governments Mario Monti, Enrico […]

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