Antidote to austerity
26 October, 2018
‘Labour under Jeremy Corbyn is a throwback to the neo-Keynesian corporatism of the 1970s’
• BOTH major political parties are identical in their fundamental tenets and cultural philosophies.
Labour under Corbyn is a throwback to the neo-Keynesian corporatism of the 1970s, while the monetarist orthodoxy of austerity and fiscal conservatism is the hallmark of New Labour and the Tories in their current administration.
The choice offered is between corporatism and austerity, neither any good. The current political set-up is moribund and unworkable.
The likelihood of a total revolution in the constitution looms. Whether it occurs in our lifetime, perhaps sooner than might be imagined, is a conundrum.
A reflationary exercise in functional finance under controlled spending as an antidote to the paralysis of austerity would be at least a meritable stopgap.
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