The policies outlined by Jeremy Corbyn and John McDonnell have the capacity to transform the economic debate in Britain. More importantly, if the ideas outlined for an investment-led recovery are implemented then they could alter the trajectory of the British economy, from stagnation and rising inequality towards sustainable growth and a general rise in living […]
Posts Tagged ‘Corbynomics’
Welcome to a constructive critique of Corbynomics from Liam Byrne
Nov 9th, 2015 by Phil Burton-Cartledge.Something more significant than the move against Andrew Fisher happened on the right of the Labour Party last week. It was Tuesday morning, in fact, and the occasion was Liam Byrne’s speech to the Policy Network. Of course, MPs, particularly former ministers, give speeches to think tanks all the time and most float under the […]
“Butskellism” versus Keynes and Marx
Oct 12th, 2015 by Michael Burke.The debate is continuing on the purpose of government borrowing and the role of ‘balanced budgets’ – which was started by John McDonnell’s position of balancing the budget on current expenditure but borrowing for investment. This is not surprising given that economic policy has to be the core of the programme for a Labour government. […]
Austerity – It’s Not Working and it’s Not Popular!
Oct 12th, 2015 by Matt Willgress.Jeremy Corbyn’s landslide victory in the Labour leadership election was the clearest sign yet that not only is austerity not working, it’s increasingly not popular. Before Jeremy’s entrance into the leadership race, on a clear anti-austerity platform that argued for a progressive alternative based on investment rather than cuts, the leadership campaign had begun with […]
Putting the Political back into Political Economy
Oct 7th, 2015 by Ewan Gibbs and Nathaniel Blondel.The reaction to John McDonnell’s announcement that he would aim for a balanced current account, whilst maintaining borrowing for capital investment, revealed a recurrent fault line within left-wing economic thought. At its most banal McDonnell was accused of signing up to George Osborne’s ‘austerity charter’, whilst more sophisticated critics argued such policies would weaken demand […]
Corbynomics and balanced budgets
Sep 28th, 2015 by Andy Newman.It has been a stormingly successful two weeks for Jeremy Corbyn, and for the Labour Party. We have seen membership growth, not only more members, but a membership more representative of the broader population, younger and more gender balanced. We have a majority of women in the shadow cabinet for the first time ever, we […]
One of Jez’s first tasks must be to frame his project, and to de-frame Osborne’s
Sep 16th, 2015 by Michael Meacher.If there is one single reason why Labour lost the election, it’s that Osborne realised the critical importance of framing his project in a way that made it acceptable in the eyes of a majority of the electorate. The fact that it was a string of lies didn’t matter as long as people believed it. […]
Corbynomics and crashes: investment versus speculation
Sep 3rd, 2015 by Michael Burke.Words matter. But in economic discussion as elsewhere they are frequently abused. In economic commentary one of the most frequent falsehoods is to describe speculative activity as investment. Stock market ‘investors’ are in fact engaged in speculative activity. There is no value created by this speculation. The claim made by its apologists that it provides […]
