austerity

Which way from here? That depends on where we want to go. Our choices now will determine our future.

Sign on a fence with and arrow logo and the word votePhoto via PxHere

We are in the last few days of the election campaign. An election which, without doubt, will be a defining one for the future of this country and possibly even the planet. It will determine whether we carry on with the economic and political status quo or whether we choose a different path towards a socially just and fairer economic system which also addresses as a matter of priority the challenges posed to the future survival of our species.  Growing political unrest caused by the last forty years of market-driven dogma has created huge wealth inequalities and is driving dangerous right-wing populism worldwide.

This might be just a national election, but the world is watching. Where we put our X in the voting booth this time around will be crucial. It matters as never before.

The ancient Greek philosopher Aristotle wrote:

“For the duty of the truly democratic politician is just to see that people are not destitute; for destitution is the cause of deterioration of democracy’

Of course, he lived in a time very different to our own, but he believed that the best form of democracy was one with a more equal income distribution and that greater economic equality would increase the stability of the state and thus that of citizens.

The State has a crucial role to play in serving the public purpose or in other words creating the fundamental frameworks for a healthy society and economy which benefits everyone.  However, for the last forty and more years, economic power has become increasingly concentrated in the hands of a few people. This has been facilitated by successive governments whose policies have been informed by an ideologically based dogma of privatisation, deregulation and an emphasis on ‘sound finance’ which, over the last nine years, has been at the heart of Conservative austerity.

It has also been enabled by politicians who have acted less in the service of the nation and more in the interests of corporations and excessively wealthy people who have influenced government policies in their favour through a network of lobbying and special advisors. Democracy has been undermined by those with the power and wealth to influence politicians and a media which continues to play a huge role in that subversion.

The ideological premise of trickle-down has been that the rich are the wealth creators, that tax cuts encourage investment in the economy and jobs which benefit working people and then, in their turn, brings in taxes to pay for our public services. We have been deceived with the lie trotted out over the years and even during this election campaign by Conservative ministers and even some on the progressive left that our public services are dependent on bringing in tax revenue. When in fact it is quite the reverse.

A healthy economy and all that means, from citizens having access to good education, quality healthcare and a protective welfare system, (not to mention other vital public services or businesses which rely on access to an educated and healthy workforce and the physical infrastructure for their businesses to flourish) depends on a government which has made a political decision to invest sufficiently in that public and social infrastructure to benefit both today’s and tomorrow’s citizens. It does not depend on a government checking on whether there is enough in the public purse to do so.

For well over a year now, GIMMS has charted the consequences of austerity in its MMT blogs. Yet, now we are now witnessing on a daily basis, like never before, its damaging effects on the very foundations of economic and social life.

Economic data published last month showed that the services sector slowed in the last quarter and the manufacturing and construction sectors contracted in November. The economy just avoided recession, with the weakest growth in a decade.  Whilst clearly the uncertainty over Brexit will have played a part, cuts in government spending over the last 9 years will have also played a significant role as businesses lose investment confidence and households tighten their belts due to rising household debt.

A study published by the Office for National Statistics on 5th December 2019 found that whilst Britain’s total wealth grew by 13% between 2016 and 2018, the wealth of the richest 10% increased four times faster than those of the poorest 10%. It also found that the poorest 10% of households had debts three times larger than their assets, compared with the richest 10% who have accumulated a stash of wealth which was 35 times larger than their total debts. The Wealth and Assets Survey carried out by the ONS also showed that in 2018 the top 10% finished up with 45% of national wealth while the poorest 10% held just 2%.

The shocking data underlines the growing wealth divide. A divide between those at the top who barely noticed the 2008 Global Financial Crash (or indeed profited from it) and those on low incomes whose real earnings have barely risen since the crash and who have seen their economic share of productivity decrease over decades. The very people who have paid the real price for austerity have, in fact, suffered a double whammy.  They not only are facing an enormous and increasing burden of household debt (putting huge stress on their finances exacerbated for those on low incomes and in precarious employment), but they are also reaping the consequences of brutal cuts to the public service sector.

Huge inequalities that have arisen as a result of the pursuit of this pernicious market-focused ideology along with a deceitful balanced public accounts narrative have not only driven a steam roller through our public services and vital welfare systems but have also impoverished millions leaving them floundering in insecure and low paid employment.

In the week that the Liberal Democrat leader Jo Swinson apologised for backing the Coalition’s austerity policies during the Coalition years and whose economic spokesman claimed in a speech very recently that they are the only party of ‘sound finance’ (which sounds very much like more of the same), the news has been ever more damning about its consequences for the lives of working people, families, children and the elderly and our public infrastructure.

Shelter’s ‘Generational Homeless’ report found that a child becomes homeless every eight minutes; that’s 183 children losing their homes every day. It found that at least 135,000 children will be living in temporary accommodation on Christmas day.

‘Life in a B&B is horrible. There’s no room to do anything. I’ve been told off … for running in the small corridor. You can’t do much, you can’t play much. I don’t get to play that much. Sometimes me and my little brother Harry fight for the one chair because we both want to sit at the table. I find it really hard to do my homework’ says Will whose family was made homeless and now lives in a single room in a bed and breakfast in Ilford.

A leading charity Action for Children warned this week that some of the youngest children are facing a childhood crisis as almost one million under 10s from low-income families face a bleak Christmas lacking basics such as a heated home, warm winter coat or fresh food.

Research from the charity shows that after a decade of austerity and ongoing problems with universal credit, parents below the breadline are able to spend just £2 a day per child on food and struggle to afford nutritious food which is vital for their health and development.

The Dispatches programme ‘Growing up Poor; Britain’s breadline kids’ which aired on Channel 4 earlier this week exemplified the shocking poverty that exists in one of the wealthiest countries in the world. Children sleeping in their coats in the middle of winter because they can’t afford heating; parents counting the pennies to see if there is enough money to feed the meter; a family living in Cambridge surviving on £5 a day in a wealthy city that houses eight of the 2000 food banks that have been set up across the UK in the last decade to alleviate hunger; and a teenager Danielle who is studying for her GCEs and self-harming housed with her family in a bedsit, with no savings and relying on a local soup kitchen and food bank to survive.

This is happening in 21st century Britain and yet it feels like we are being transported in Dr Who’s Tardis back to the streets of Dickensian times.  Our children are being denied a future by a government which has put balancing the public accounts above the health of the nation, its children who represent the future and the environment upon which they will depend for their survival.

At a hustings last week, the Conservative MP John Whittingdale was applauded by the audience when he claimed that Labour had left the economy in a perilous state and close to bankruptcy. Perpetuating the lie that austerity had been necessary to get the public finances in order, he said that careful economic management by the Conservatives meant that they could now spend on the NHS, policing and education. No acknowledgement was made about the damage that austerity had caused to our public services; those on low incomes and in insecure working; the huge rise in homelessness or the 73% increase in supplies being distributed in the 2000 food banks across the UK; the increasing numbers of hospital admissions for scurvy, vitamin D deficiency and other maladies associated with economy inequality and child food poverty; and no mention of the systemic problems with welfare reforms and the introduction of Universal Credit, along with a punitive assessment system which have led to many deaths.

We must continue to challenge the false assumptions about how modern monetary systems operate and demonstrate to the public that contrary to common belief government spending is not constrained by monetary resources.

Tackling existing and future inequality and saving the planet will not be constrained by the state of the public accounts or the national debt or whether government can raise sufficient tax or borrow on the markets but rather how it will manage the finite resources it has at its disposal to create the public frameworks and infrastructure to sustain a healthy economy and environment.

It is both a moral question about how a civilised nation should behave towards its neighbours near or far and how we organise our societies to create the optimum environment for all to live with dignity and without fear.

It is regrettable that creating fear and hate has been the modus operandi of governments, extreme political movements and the press. Without a fundamental shift in our attitudes we cannot hope to make the radical changes we need to create a fairer society and more importantly to survive.  A challenge to the political and economic status quo is vital if we care about our children’s future and that of many others around the world.

To reiterate the final paragraph in last week’s MMT Lens:

What are we so afraid of? A better future for our children? A more sustainable and fairer economy for all? Indeed, a planet for us to live and breathe on? What is not to like?

 

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The post Which way from here? That depends on where we want to go. Our choices now will determine our future. appeared first on The Gower Initiative for Modern Money Studies.

It’s Hammer Time! Cassetteboy’s Latest Video Against Boris Johnson

Mike put this up on his blog a few days ago, but it’s well worth repeating and publicising. Cassetteboy is another group of fun-filled pranksters like JOE, who produce satirical videos by carefully editing the speeches and actions of the great and not-so-good so that they appear stupid and nonsensical. They’ve done this yet again to our unfunny, murderous Prime Minister, Boris Johnson, to reveal how stupid, cruel and massively unjust his government and its policies are. They’ve edited it so that he’s reciting a description of his failings and injustices to the tune of MC Hammer’s ‘Can’t Touch This’. Which, due to Johnson’s own massive deceitfulness and mendacity, has been changed to the chorus ‘Can’t trust me’.

The video begins with Johnson repeatedly stammering out ‘My, my, my’ and then

‘My Brexit is so hard

Makes you say

“Oh my word.

What about my job security?

Sick pay, healthcare and the economy?”

These are the things

You need to discuss

When I say

“Brexit won’t hurt you much!”

Remember the lies on the side of a bus,

I am a guy who you can’t trust.’

There then appears the caption ‘Sacked by the Times for lying’.

He goes on, singing

‘Can’t trust me.

Then another caption ‘Sacked from the Shadow Cabinet for lying’.

Can’t trust me.

I promised thousands more police

But that’s less than we already cut.

If you trust me you must be off your nut.

I lied to the Queen to get Parliament shut.

I say the Tory party ‘Is the party of prosperity

But not for the 130,000 people killed by our austerity.

Nor for disabled people robbed of money and their dignity.

Or the millions of children our policies

Have left in child poverty.

Are those kids mine? probably not

But I won’t admit how many I’ve got’

Another caption here, ‘Wont admit how many kids he has’.

‘Can’t trust me’.

Then another caption: ‘Lied to the Queen to illegally shut down Parliament’.

‘Can’t trust me’.

‘The planet now is burning at a terrifying rate

And I don’t even turn up to the climate change debate.

And now let me say this, two of my biggest disgraces

Are of course that I’m homophobic and a racist.

Stop. Stammer time.’

The video then moves into footage of Johnson stuttering and stammering away, under which appears another caption, (Affected waffle, disguising genuine lack of preparation, competence and decency).

‘Stop. Stammer time.’

One more thing before this ends,

You don’t judge a man’, and the next voice is that of Donald Trump, completing the sentence, ‘by his friends’.

‘Our standards will fall with a bump as I align us all with Trump,

Allow the NHS to fail and off it to Trump for sale.

It will no longer belong to you though I say

That’s not what we’ll do.

Is that true? Here’s one way of proving if I’m lying

if my lips are moving.

Another caption: ‘Won’t apologist for racist and homophobic comments.’

‘Can’t trust me.’

And then the screen is filled with text showing his various failed and harmful policies.

‘Can’t trust me’.

The richest have tax loopholes

While schools can’t afford loo rolls.

We’ve failed the NHS and left the country in a mess and

To the best to fix it are myself and Rees-Mogg

Is like expecting dog shit to be cleaned up by the dog.’

The video ends with a black screen on which the slogan ‘Vote Boris Out’ is written in white text. There’s then the Cassetteboy jingle, the sound of someone sighing or snoozing, and a final scene of Johnson making a throat-cutting gesture at LBC.

The dialogue’s invented, but everything it says is true.

Vote him out!

Here’s the video.

 

 

 

The time has come to talk of many things; of taxing and spending and an economic system that needs mending. 

Protest placard with a picture of the Earth in space and the slogan "One World"Photo by Markus Spiske on Unsplash

In the news, the Prime Minister tells millions of  WASPI women affected by the changes to the state pension age that he couldn’t promise to magic up the money for them despite having found lots in the magic money pot for Tory manifesto pledges; the Home Secretary, Priti Patel, whilst visiting a food bank, claims that the Tory government was not to blame for poverty in the UK and, shifting the blame onto local councils, forgets to mention that central government funding has been cut by nearly 50% since 2010/11.

After 9 years of austerity, the consequences couldn’t be starker for our public and local government services, however, it is UK citizens, families and their children who have borne the distressing costs of cuts to social security benefits, both on their health and financial well-being. It cannot be clearer that the steep cuts to tax credits, child and disability benefits, ESA and Incapacity benefit and housing along with the introduction of Universal Credit have been behind the increases in child malnutrition, food bank use, homelessness and suicide.

The IPPR this week published its report ‘Divided and Connected’ which reveals that the UK is more regionally divided than any comparable advanced economy.

In the same week, the Resolution Foundation published its report ‘The Shifting Shape of Social Security’ It notes in its analysis of the manifestos of the main parties that child poverty is set to continue rising under the Conservative Party’s social security plans, whilst Labour’s £9bn of extra spending would mean 550,000 fewer children in poverty, it would not reverse the effects of the £5bn benefits freeze and could still see more children living in poverty in 2023 than do today. It noted that major policy changes have reduced support for working-age households since 2010 resulting in overall spending in 2023-24 being around £34bn a year lower on current plans than if the 2010 benefit system had remained in place, and that the cuts in support had fallen almost entirely on low-to-middle income working age families. It also noted that the Conservatives’ 2019 manifesto makes no changes to existing policy and as a result child poverty risks reaching a 60-year high of 34%.

Although the conservatives are promising more spending on health and education, it seems clear that they intend to carry along the same policy paths they have followed since they came to power in 2010 which have involved cuts to benefits, conditionality, sanctions and welfare to work. Clearly, they have no intention either of reversing the already implemented cuts or reforms which have done so much damage and left a trail of devastation in many people’s lives. Priti Patel’s remark about who is to blame for poverty is indicative of Tory neoliberal credentials of denying governmental responsibility and passing the buck along to others, whether local government who have been firefighting for lack of funds or indeed shifting the blame onto citizens themselves. Her position has not changed much since 2015 when she said, ‘There is no robust evidence that directly links sanctions and food bank use.”

In the light of the very real consequences on people’s lives of government spending decisions and policies, it is all the more depressing to read the two analyses of the party manifestos by the Resolution Foundation and the IFS which instead of looking at the real effects of government spending policies on the lives of real people, examine them in purely financial terms and arbitrary fiscal rules which as we may now be realising bear no relationship with how money really works.

Hunkered down in household budget explanations, the IFS, rather than considering the spending promises of all three parties from the perspective of potential outcomes for the economy and its citizens, examines them in relation to the prospect of raising taxes or borrowing and the likely impact on the deficit and national debt.  As usual, the question, if not asked directly, is how will the parties pay for their spending plans? When, instead, they should be acknowledging that the real question is how will a future government manage existing resources to meet government goals? This will be the real constraint that any future government will face, however progressive that government may be. The resource balancing act will be key to maintaining spending within the productive capacity of the nation to deliver public purpose.

The Resolution Foundation summed it up depressingly in its conclusion in saying that:

‘The priority that both main parties have placed on credible fiscal frameworks in this campaign is laudable. Such rules are hugely important for the government’s overall economic priorities. In setting out new fiscal rules, it is vital that they provide a clear framework for sustainable public finances, constraining the temptation for policy makers to promise unfunded giveaways.’

Such institutions unsurprisingly have focused on the notion that it is the role of government to balance its budget rather than serving citizens and improving their economic and social well-being. It is regrettable that a recent poll has suggested that many people doubt whether such spending plans are affordable and yet given the reality of the consequences of not spending adequately how could we possibly afford not to?

The nation is now paying the price for politicians pedalling the lie of the last forty years that money is scarce, that there is no such thing as public money and that good government is about fiscal discipline. Even if changing that notion in the public consciousness will take time, in the light of the urgency of the challenges to address climate change and social inequality we need an urgent step change in economic thought on a planetary scale since it is our survival on this planet which is at stake.

This is not, however, a time to make compromises with an economic system which has already done such huge damage. The seeds of an alternative model are already being hijacked by companies cynically promoting their green credentials with one aim in mind: to create more growth to keep the profits rolling. Reducing our plastic use and buying electric cars will scarcely make a dent in the scale of the changes we need to implement. We may have a broad vision, but that now needs to be developed into concrete realities. It may be still a work in progress, but it is a vital one we must not ignore.

This is a time to reimagine the world. A fairer and more sustainable approach to replace the one of endless growth which currently defines our capitalist economic system and puts profit before people and the planet.

Progressives on the left are beginning to initiate a much-needed conversation about what we need to do to reverse the decades of social injustice and challenge the idea that we can maintain the engine of growth on a finite planet.

However, and most regrettably, politicians on the left are still trying to have that conversation stuck in old economic paradigms of how money works. When they are asked how they will pay for these vital programmes the response is always one of tax and spend or borrowing to invest. Raising corporation tax, bringing back the magic money tree from the Cayman Islands, taxing the rich until the pips squeak or borrowing on the markets because interest rates are low. Instead of talking about taxing the wealthy to redistribute wealth by removing their colossal purchasing power and ability to influence politicians, they talk about funding our public services with the proceeds.

Again, on the left some politicians are suggesting that the government is akin to a business and that renationalising transport, our utilities, mail and the NHS will allow the government to plough back the profits back into public services. Yes, we need to end the rip-off of privatisation which has not benefited citizens and has allowed public money to flow into private pockets for profit motives, but let’s not buy into the idea that the government resembles a large corporation with a profit and loss sheet. It doesn’t.

The government is the currency issuer and neither needs to tax nor borrow in order to spend and nor does it need the profits of renationalised industries for us to have public services.  It just needs the political will to deliver them.

The role of government is to create the framework for markets to exist and dictate through legislation how they will function and in whose benefit. It taxes the populace, not to fund its spending but to manage its economic policies, from the redistribution of wealth to expressing public policy and is one of the key tools it can use to manage inflationary or deflationary pressures.

Government not only has the power of the public purse to improve the lives of its citizens it also has the power to legislate to drive its political agenda. All a question of choices which are not dependent on the state of the public accounts. Indeed, not only does it have the power to spend for the public purpose, it has the power to change the rules of the game. For example, it might regulate the financial sector to ensure that when people’s savings of whatever kind are put to work it is done to shift our negative and damaging behaviours towards creating a positive impact on society and our environment instead.

Outcomes are the measure of any government’s success. With the political will it could:

  • create the framework for good quality universal public services provide a social security system which is both not punitive in its functioning but also ensures a decent standard of living for those unable to work through disability, sickness or old age,
  • pay for a just Green transition,
  • offer a Job Guarantee as standard to create price stability and act as an automatic stabiliser for the economy to give people the dignity of proper, well-paid employment when needed.

All of these things are fundamental to the good functioning of society.

What are we so afraid of? A better future for our children? A more sustainable and fairer economy for all? Indeed, a planet for us to live and breathe on? What is not to like? So, when you hear interviewers berating left-wing politicians (who have not quite made the leap into monetary realities) about how they will pay for their progressive agenda ignore those questions and remember instead that a government’s economic record will be defined by how it serves the nation’s economy as a whole, improves the lives of its citizens and how it uses the resources it has at its disposal to achieve its agenda – not whether it balanced the budget.

 

For more in-depth information about how money really works, you can find all you need on our GIMMS website.

https://gimms.org.uk/

 

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Fiscal Policy, Debt and Deficits

Published by Anonymous (not verified) on Fri, 29/11/2019 - 4:04am in

Labour and Conservative Parties, plus the Liberal Democrats, commit themselves to increased public expenditure, apparently ending almost a decade of debilitating fiscal austerity. PEF welcomes this change in policy by the Conservatives and the Liberal Democrats. No voter should conclude that the fiscal frameworks of these parties are essentially the same.

First, while the Labour Party commits to the most substantial budgetary expansion, it is a mistake to focus on the overall size of the expenditure increases each party promises. This quickly leads in bickers over what is actually new and whether commitments are sufficient for the goal sought. Second and equally unenlightening, focus on amounts invariably degenerates into assertions about “affordability”. The commitments of all parties are “affordable” in the basic sense that they are easily financed by an appropriate combination of growth-generated revenue flow, new and higher taxes, and borrowing.

These two considerations
identify the central difference that divides the party approaches. Of all
parties, large and small, only Labour places its expenditure programmes into a
clear fiscal framework, part of an overall plan for reversing austerity,
environmental protection, inequality reduction and economic modernisation.
Without an expenditure framework, commitments may be laudable, but their impact
is piecemeal. It is for that reason, their structured nature linked to
outcomes, that PEF assesses the Labour Party’s fiscal plans as the most
credible and effective.

Most assessments of the party
fiscal commitments by think-tanks will focus on their impact on the fiscal
balance (“deficit”) and the public debt. This approach is both misleading and
banal. It is misleading because few if any of the assessing organizations
employ a systemic framework and covers the entire economy. As a result, many
direct and indirect effects of expenditure and tax are ignored. For example,
spending tends to expand the economy, which generates more revenue. Tax
increases slow expansion, thus reducing revenue growth. Only a systemic
framework allows evaluation of the net effect of spending and taxation on
deficit and debt outcomes.

The narrow focus on deficit and debt is banal because it judges a broader public purpose, rejuvenation and transformation of UK society, on the basis of cost accounting. In the autumn of 1939 with Britain facing an existential threat, no major politician made the decision of war and peace based on affordability. Nor should we now, as we face existential threats of climate change and social cohesion.

Photo credit: Flickr/Rain Rabbit.

The post Fiscal Policy, Debt and Deficits appeared first on The Progressive Economy Forum.

Ordinary British Jews Condemn Chief Rabbi’s Attack on Corbyn

Yesterday Mike put up a great piece yesterday reporting that after Tory Chief Rabbi and friend of Johnson and Netanyahu Ephraim Mirvis had taken to the pages of the Times to smear the Labour party once again, British Jews from right across society, from ordinary Brits to the noted actor Miriam Margolyes, had take to social media to condemn Mirvis’ comments. One of the first was an open letter which was circulating on the Net, which read:

Dear Chief Rabbi, you have shamed your office today and rendered the Jewish people even more vulnerable to real antisemitism by reinforcing the fake, media-induced antisemitism that you recklessly impute to Jeremy Corbyn and the Labour Party.

To interfere politically at this point in an election in a way that could affect the only party that could bring hope and social justice to this country is beyond contempt and renders you unfit for office.

As a Jew and a Labour Party supporter, I am proud to be part of a venture that I see as a continuity of so many of my Jewish forbears who have fought for social justice here and in Europe.

You talk about ‘the soul of the nation being at stake’ yet have you not noticed what has happened to that soul over the last nine years where: 1. The poor have been vilified 2. The ill have been attacked 3. The mentally ill have suffered 4. Inequality has soared. 5. Greed and financial rapaciousness has flourished 6. Austerity has been unnecessarily applied after a financial crisis brought about by an out of control finance sector that has benefited the wealthiest.

Where was your voice about the nation’s soul then?

Yet you inveigh against a decent and honest man who, even now, maintains integrity in the face of manifest manipulation, deceit and digital sleight of hand from the Tories.

You have shamed your office, the justice-loving tradition of the Jewish people and laid the grounds for future tensions in the most irresponsible way. You seem to lack the acuity of intellect to even spot the most obvious use of this bogus antisemitism as a political weapon.

Justin Schlossberg of the Media Reform Coalition called the antisemitism saga ‘a disinformation paradigm’ and made a detailed study of the issue. The great scholar, Norman Finkelstein, likewise, sees this a purely politically motivated attack.

How dare you, amateurishly intervene in this, betraying the great Jewish scholarly tradition of intellectual and analytical acumen embodied in the Talmud and the exegetics of the Chumash.

The letter is signed, “With profound sadness and considerable disgust.”

Labour supporter Hasan Patel retweeted a piece from Margolyes’ comments about the affair on Channel 4. The actor said

I don’t think people are looking at the real issue. In Rabbi Mirvis’ statement, the word ‘Israel’ does not appear and that to me is the heart of the problem. People are not anti-Semitic, they are anti-Zionist as I am myself. It doesn’t mean that I’m anti-Semitic. I fight anti-Semitism and prejudice wherever I find it and so does Jeremy Corbyn and I think that the Chief Rabbi whom I respect because of his position is just making a terrible mistake. It is completely wrong to listen to what people are saying about Jeremy Corbyn. I just don’t understand it. I don’t believe that Jeremy Corbyn is anti-Semitic. I’m sure that he’s handled it badly. Everybody makes mistakes and I’m sure he’s made mistakes. But he hasn’t become an anti-Semite, he doesn’t support anti-Semitism, he loathes it, as every right-thinking person does. And I just feel desperate that we are prepared to take on board as Prime Minister a shoddy liar like Boris Johnson. How can you believe a thing he says? The man is a complete falsehood from start to finish. He’s a blustering bully, and I think if you have to choose between the two for goodness’ sake choose Jeremy Corbyn.

Margolyes has been a long-term critic of Israel’s barbarity towards the Palestinians. Nearly a decade ago she condemned the bombardment of Gaza ‘as a proud Jew, and an ashamed Jew’. She came out as a lesbian a few years ago, and works with a Jewish organisation aimed at combating anti-gay prejudice in the Jewish community, Gay Yids.

Children’s Poet Laureate David Rosenberg attack Mirvis’ silence on Tory racism. He tweeted

Chief Rabbi has had nothing to say on Tories hostile environment and Windrush Scandal, nor on formal Tory links with antisemitic gov’ts in Poland and Hungary. Think he’s sitting on his moral compass.

And ordinary Jewish Brits were also angry that Mirvis was using their community identity to attack Corbyn. Dr. Simon Goodman tweeted

Today I’m feeling terrible that my religious identity is being used to argue that an obvious anti-racist is an . is awful and must always be fought, but it is simply not the case that or is antisemitic.

And Juliette Emery said

Off for today
I need to calm down, it’s not healthy to be this angry 😡
Too many lies and mendacious attempts to undermine the only leader I know that wants peace, equality and a fairer society for us all whilst protecting this planet we all call home

Sleep well

Mike comments that British people dislike being told what to think, and this seems especially true of Jews. Exactly! I got the impression that Jews see themselves as a people particularly given to debate and argument. It’s been that way ever since the Talmud recorded the debates and disagreements over the Law by the rabbinical sages of antiquity. ‘Two Jews, three opinions’, as the Jewish saying goes. Years ago I bought an old book of papers from a wartime American academic conference, in which religious groups, philosophers, people of letters and scientists put forward arguments to show that their disciplines upheld and promoted the liberal, democratic values under threat from Fascism. A group of Jewish scholars put forward a fascinating paper to show that Judaism was intrinsically democratic. This included a piece from the Haggadah, extra-Biblical Jewish legend, which called for Jews in leadership positions to be concerned to create consensus and agreement, rather than impose their decision by fiat.

The story is that when God gave Moses the Torah, He commanded Moses to first go to the Jewish people to see if they would accept it. The Lawgiver replied that there was no need, because they would have to accept the Torah as the express word and law of the Almighty. ‘Nevertheless’, said God, ‘God to the people.’

They also argued their point on a remark about the Bible from one of the great rabbis, whose views are recorded in the Talmud. When asked what the most important sentence in the Hebrew Bible was, he replied ‘And these are the generations of men’. Not God, not Jews, but humanity as a whole. God’s revelation is intended to benefit all of us. Liberal Jews writing in the American radical magazine Counterpunch have said that they came to their values through the teachings of the Talmud, just like the author of the open letter at the start of this post. They stated that to be a Jew means always identifying with the oppressed, never the oppressor.

But Mirvis is defending the oppressor in seeking to conflate anti-Zionism with anti-Semitism in order to smear Corbyn and his supporters. And to support a Tory party determined to impoverish and disenfranchise ordinary working people, whether they be Jews or gentiles. And for many British Jews, this is intolerable.

We don’t need a perfect world; we need a fairer and more equitable one. Understanding how money works is the first step.

Published by Anonymous (not verified) on Sun, 24/11/2019 - 12:02am in

Person at the bottom of stairs climbing from darkness into the lightPhoto by Free To Use Sounds on Unsplash

As the election campaign rolls on and party leaders battle it out on our television screens, the Liberal Democrats commit themselves to more austerity and Paul Mason, left-wing journalist and former music teacher, indulges in some fantasy explanations of how money works. More on that later….

In yet another indication of how the austerity has not only done grave damage to those who least deserve it, but also to the economy, two more reports have been published to add to the already long list exposing the consequences of cuts to public spending.

The Scottish based Poverty Alliance organisation which published its report Righting the Wrongs: A manifesto to tackle poverty is urging the next Government to ‘put solving poverty at the heart of all that it does, including by creating a more compassionate social security system, [and] building a labour market that works for everyone….’

When confronted with the realities of people’s lives through their stories we can see the real tragedy behind the policy decisions and cuts to public spending of the current Conservative government.

Jamie from Glasgow struggling to raise a family on a low income described it as ‘like being stuck in the middle of a spider’s web with no escape route’ and Jackie, a community activist commenting for the Poverty Alliance report, said that ‘more and more people are being locked into poverty by jobs that are low paid and insecure. When people can barely afford to put food on the table and when parents working full-time are struggling to cope, there is something very wrong that we have to put right.

An analysis published by the TUC, also this week, has revealed that the number of children growing up in poverty in working households has risen by 38% over the last decade, bringing it to 800,000 since 2010.

The study also showed that government policies account for the majority of rises in child poverty, with more than 485,000 children (in working households) having been pushed below the breadline, not only as a direct result of the government’s in-work benefit cuts but also as a consequence of other major factors which include weak wage growth and insecure work. The report also noted that over the past decade workers have suffered the most severe wage squeeze in two centuries and although wages have just started to grow, weekly wages are still £14 below pre-crisis levels.

Frances O’Grady, the TUC General Secretary, commented about the report that no child in Britain should be growing up in poverty and cuts to in-work benefits have come at a terrible human cost.

Overall the poverty figures are shocking. As GIMMS reported earlier this year following a report by the Social Metrics Commission, there are now around 14.3 million people living in poverty, of which 8.3 million are working-age adults, 4.6 million children (of which around 2.9 million are in working households as identified in the later TUC report) and 1.3 million pension age adults.

Aside from these shocking statistics which represent avoidable and unnecessary human degradation, the combined effects of government policies and cuts to spending on public services have had a damaging effect not only on the lives of those caught in the austerity crossfire but also on the economy as a whole. A decaying public and social infrastructure and toxic welfare reforms have had a significant impact on poverty and inequality and show clearly in whose interests the government has been acting. The promotion of individualism and self-reliance, along with decreasing state intervention to replace our public infrastructure with private, profit-motivated services has been a long-standing agenda of successive neoliberally inspired governments.

Access to high-quality health and social care, education and training, well-paid secure work and good quality, affordable housing all play a vital role in the health of the nation and its economy. When people are denied those basic support systems it can only, in the end, lead to more deprivation, ill health, hunger, homelessness and increased crime, the consequences of which ripple into every part of society burdening it with both additional financial costs and societal breakdown.

As was reported by the BBC only this week more than 2 million adults are unable to see a dentist either because they can’t afford treatment, find an NHS dentist or get care where they live as a result of underfunding and recruitment problems. It is claimed that many people are being reduced to practising self-dentistry to alleviate the pain of rotten teeth which can cause all sorts of other problems like periodontal disease which can, in turn, lead to an increased risk of heart disease.

After nine years of cutting NHS spending in real terms, creating a pressured working environment for staff, capping their pay, stopping nursing bursaries and driving people away because of stress, senior NHS leaders are warning this week that hospitals are so understaffed lacking sufficient doctors, nurses and other health professionals to provide services that the ‘safety and quality of care are under threat.’ The latest figures show that the performance against key waiting times for A&E, cancer treatment and planned operations have fallen to their worst-ever level and that this could deteriorate even further as winter approaches.

NHS mental health services which have borne the brunt of cuts have become little more than a firefighting service to deal with the ever-growing numbers of people needing support.

Earlier this month the organisation State of Hunger published its report, drawn up in conjunction with Heriot-Watt University and the Trussell Trust. It revealed that more than half of households referred to foodbanks were affected by poor mental health, predominantly anxiety or depression, while 23% of people referred to foodbanks were homeless. The report gives a voice to those people who have paid the price for austerity and welfare reform – the worry about paying bills, keeping a roof over one’s head or having a job which pays enough.

“If I don’t pay my bills, then I’ll get the house taken off me. After paying arrears, I’ve got £8 a fortnight and that’s to pay for gas, electric, water. It’s just impossible, it really is. I go to bed at night wishing I won’t wake up in the morning.”

 

“I’ve used the food bank because I was on such a low income before I got my disability benefit… I had a mental breakdown because basically the amount they give me doesn’t cover the costs of my rent.”

 

Education joins health in forming the backbone of a functioning economy and societal well-being and yet, it too has suffered from crippling cuts to spending. Kevin Courtney, the joint general secretary of the NEU said this week that ‘The future of education hangs in the balance’.  Despite government promises of more money, the School Cuts Coalition made it clear only last week that four in five state schools will be financially worse off next year than they were in 2015 and this will affect schools in areas where there are already high levels of deprivation.

Even with the additional funding promised by government, there will still be a shortfall of £2.5bn in the year ahead after years of already damaging cuts. The consequences for schools are grim. More pupils per class, fewer teachers and support staff and reduced curriculums with subjects like music, language, art and design being cut as a result of the pressure, not to mention the reduction in capital expenditure on schools’ estate which has left it in a bad state of repair and not fit for purpose.

Our children represent the future and yet they are the ones that will bear the brunt of lack of adequate government spending and planning for an education and training system to meet the challenges they will face in the future.

A healthy economy demands a healthy and educated nation as a prerequisite. It demands quality housing, good secure jobs and pay. The last nine years of austerity and forty years of the pursuit of neoliberal dogma have pulled that rug from under people’s feet, leaving them in a world of increasing uncertainty.

It is regrettable in this respect that the notion that the state has a responsibility to ensure the health and well-being of all its citizens through the provision of universal services and other state-provided interventions is being mistaken for a ‘nanny state’ rather than acknowledging the value of such investment in society and its economy.

Whilst government has pursued its handbag economic strategy and ignored monetary realities for the lie of balanced budgets, it has failed in its duty as an elected body to serve the interests of citizens and the economy as a whole.

Whilst pursuing austerity, it has ignored the fundamentals of macroeconomics which it won’t hurt to repeat. Spending, wherever it comes from, creates income for someone else, whether that’s government which starts the ball rolling by creating the money into existence to pay for its needs which flows in turn right down to businesses, working people or even those having the misfortune to be involuntarily unemployed or coping with a disability or illness which prevents them from working. Through its obsession with austerity and lowering deficits at a time when it should have been spending more, it has weakened the economy and wilfully left people without the means to provide themselves with sufficient income to meet their daily needs.

As data from last year shows, it has left British households collectively supporting their spending through reducing savings (if indeed they had any) and taking on more debt. Quite simply government austerity has transferred the burden onto households which as private debt levels rise will prove unsustainable.

The fragile house of cards which represents the economy after nine years of government folly will either stagger on or fall into another recession unless the next government deficit spends sufficiently to promote full employment and serve the public purpose.

In the light of this, it is all the more incredible to note that after Ed Davey, deputy leader of the Lib Dems said earlier this month that Labour and the Tories were ‘writing promises on cheques that will bounce’ they have decided to make austerity their USP (unique selling point) for their election campaign. Yes, you read that right!

In his recent speech he positioned the Liberal Democrats as the ‘party of fiscal rectitude’ and the Conservatives and Labour as the ‘parties of fiscal incontinence’. Davey is proposing to adopt a fiscal rule for day to day spending aiming for current account surpluses in every year of their five-year costings.

With yet more household budget accounting and to meet its objective will require tax rises and yet more spending cuts. Furthermore, on the basis that achieving a surplus is not a saving and removes money from the economy and if our trading partners don’t spend all they earn thus taking even more out of our economy the net result will be a severe recession (as if we weren’t already heading in that direction). A bit of an own goal and a very foolish one at that!

And yet depressingly it has to be said another own goal was scored this week by the journalist and self-styled economist Paul Mason who presented a short promotional video for Novara Media explaining the deficit and debt in the language narrative of overdrafts, loans and mortgages along with that old ‘canard’ about paying for public services by taxing the very rich.

This is indeed ‘fantasy economics’ of the most damaging kind.

In response, the economist Professor Bill Mitchell explains it very succinctly and it is worth printing it here in its entirety:

‘This is the classic ‘soft’ mainstream macroeconomics that assumes the government is financially constrained and is thus not dissimilar to a household.

It is ‘soft’ because, unlike the hard-mainstream positions, it allows for deficits (‘funded’ by debt) to occur in a non-government downturn but proposes them to be offset by surpluses in an upturn, irrespective of the overall saving position of the non-government sector.

None of this framing or language is what I would call ‘progressive’.

It has the hallmarks of the way neoliberals construct the concepts and the narrative.

The inferences are also plainly false when applied to the British government.

  1. It is not financially constrained in its spending.

The constraints relate to real resource availability.

In terms of restaffing the NHS, for example, are there qualified labour resources available? What training would be required? Would this mean that British Labour is also going to be advocating open borders to ensure the staffing is available? [….]

  1. There is no meaningful knowledge that be gained by comparing a household with a home mortgage and a currency-issuing government spending its own currency.

The household is the currency user and the government is the currency issuer.

Totally different constraints apply.

  1. It is false to claim that it is virtuous to ‘tax the rich’ in order to fund essential health and welfare services.

This is one of the worst frames that the progressives now deploy.

The British government might want to tax the rich to reduce their power and influence (exercised via their spending habits) but it never has to do that in order to fund essential services.

The only constraint that exercise involves is the availability of real resources.’

  1. The British government does not have to issue debt to ‘fund’ its deficits. The capacity of the non-government sector to purchase the debt derives from past deficits that have not been taxed away yet.

Even if the government issues debt to match its investment in essential infrastructure to deliver better housing, transport health care, and engage in climate action etc, this investment is not linked at all to the current interest rates in place.

 

There is no meaning to the term “cheap” finance, when the spending does not need to be financed (in the currency the government issues).

The issuing of risk-free debt from a currency-issuing government really amounts to the provision of corporate welfare and no progressive should advocate its continuance.

  1. There is no meaning in saying the recurrent deficit is like an overdraft or the capital deficit is like a mortgage. Those terms gain meaning when applied to units that are financially constrained.

While left-wing progressive parties continue to frame their election campaigns in neoliberal terms and thus erect unnecessary financial barriers to spending that will prevent them from achieving their goals, the public will also remain in the dark about a subject which is of vital importance; how to answer the question about how government really spends, how its policies can be paid for and what  the real constraints are.

That said and despite the deliberate misleading of the public by Paul Mason, the UK needs a progressive government prepared to act in the public interest through investment in our public and social infrastructure and ready to take action to tackle social injustice, ensure a more equitable distribution of wealth and address the biggest challenge we face – climate change.

 

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The post We don’t need a perfect world; we need a fairer and more equitable one. Understanding how money works is the first step. appeared first on The Gower Initiative for Modern Money Studies.

Michael Brooks Applauds Labour’s Election Video

Michael Brooks is the titular presenter of an American left-wing internet news and comment show. He’s also a co-presenter with Sam Seder on the latter’s Majority Report. In this video, Brooks looks at and gives his approval to Labour’s election video.

Before going into the video, Brooks says that he thinks the election video is fantastic, that the initial polls look good and that Labour’s Brexit strategy is pretty smart. It’s smart from a tactical perspective of dealing with the competing demands from within their own party. He says of the Liberal Democrats that they are ‘utterly exposed’. They had an opportunity to form a government purely on the basis of making sure there wasn’t a no-deal Brexit. They rejected it because they care infinitely more about corporations and austerity and right-wing economic policies than stopping Brexit.  Brooks then attacks the Tories, stating that Boris Johnson is the UK’s own contribution to the global embarrassment list – Trump, Netanyahu, Duterte and so on. Of Labour’s video, he says that he watched a conversation earlier that day between Alistair Campbell and John McDonnell, Corbyn’s no. 2.  Brooks says that they’re really good politicians, because they’re putting so much on the table from the perspective of healthcare, workers’ cooperatives for a 21st century democracy, ‘that it’s not an opportunity to pass up.’ The video also shows they’re taking the campaign seriously, strategically and ‘presentationally’.  They then show the video.

Labour’s election video begins with Corbyn’s election as head of the Labour party in 2015. It then moves through his career, and shows how he has forced the Tories to backtrack on some of their horrendous policies, while seeing off Prime Ministers David Cameron and Tweezer. In front of the relevant scenes are the following captions, beginning with Corbyn’s election. Corbyn’s shown saying ‘Poverty isn’t inevitable, things can and they will change. And they already have, says another caption. Tweezer is shown walking on, and then walking off backwards with the caption ‘Tories forced to backtrack on’ – dementia tax, winter fuel cuts, fox hunting ban, – ‘and many more’. A list of other policies blocked rolls up the screen too fast to catch, but they include grammar schools, police funding cuts, diesel tax, solar panel tax, tampon tax, Brexit deal vote, National Insurance, Brexit impact reports, Saudi prison contracts, Sunday trading hours,  and triple lock on pensions.

There’s then footage of a reporter stating that polls show the Tories on 48 per cent, and Labour half that. Which is followed by John Snow saying ‘We, the media, the pundits, know nothing’. The captions then states that Labour had the biggest campaign growth since polling began. And that Corbyn bid farewell to two prime ministers, showing Tweezer and Cameron. It says he defeated May’s Brexit deal once, twice and then three times. He blocked Johnson’s disastrous no-deal Brexit. It then shows footage from the Labour conference of Corbyn saying that the party ‘will commit to unleash the biggest people-powered campaign we’ve ever seen in this country and in this movement.’ A caption then appears and says ‘To totally transform our society from grass roots upwards. To radically change our rigged economy so that it works for everyone.’ At this point there’s an image of Johnson meeting various people and Rees Mogg lounging on a Commons’ bench. The caption goes on ‘To urgently respond to the climate crisis with our green industrial revolution. To get Brexit sorted by giving the people the final say.’ It goes back to Corbyn against, who says, ‘We achieve all of these things by being a party and a movement totally and absolutely united to our common cause and purpose.’

The captions then appearing, saying ‘This is our chance, once in a generation  to rebuilt Britain and put wealth and power in the hands of the many not the few. It’s time for real change’. And there it finishes with the Labour Party logo.

Brooks remarks, ‘That’s a good ad. They’re on point. I would really recommend if you’re in the UK you do absolutely everything you can for Labour. I’m incredibly excited to see what they put forward.’ He and the crew then discuss which date the election is on, before concluding that it’s the twelfth December. Brooks ends that section of the video by saying that he thinks it’s fantastic they have such a short election cycle.

The reason why the election cycle is so short, is because all the Tory governments have collapsed ever since Cameron’s wretched decision to call the Brexit referendum.

I think it’s brilliant that Michael Brooks thinks the video is so great, and gives his unqualified support for Labour. Brooks and Seder are both supporters of Bernie Sanders and his campaign to bring about the radical change America needs to empower its ordinary working people, and give them jobs and prosperity instead of more neoliberal lies, poverty and despair from the Republicans and corporatist Democrats. And what America most desperately needs is medicare for all. It’s a disgrace that a massive economic and geopolitical giant like America does not provide properly funded medicine to all of its people. The claims by the Republicans and right-wing Democrats like Hillary Clinton that the country can’t afford to is a flat-out lie. Bernie’s serious about correcting this glaring injustice in American healthcare, just as Corbyn’s determined to revive and regenerate our National Health Service.

We need and deserve Corbyn to win over here, and Bernie to win in America. And then we can make a better world by destroying four decades of Thatcherism and Reaganomics.

We need to talk about the Institute For Fiscal Studies

Published by Anonymous (not verified) on Sat, 23/11/2019 - 12:20am in

In recent weeks political parties have started to announce their policy platforms for the forthcoming general election. Numerous organisations, including the Progressive Economy Forum (PEF), will be offering expert assessments of these policies and manifestos.

The Institute for Fiscal Studies (IFS) is perhaps the most well-known of these organisations. Its analysis frequently crowds out that of other institutions, such as the Institute for Public Policy Research (IPPR) and the Women’s’ Budget Group.

On its donations page, the IFS describes its purpose as follows:

“During an election campaign, objective analysis of economic policy is more important than ever…Our commentary on party manifestos and campaign promises leads the public debate, providing individuals with the tools to understand and evaluate complex decisions. What’s more, the IFS is entirely independent of political parties, companies and pressure groups, allowing us to hold politicians of all stripes to account when their numbers don’t add up or their policies are poorly designed.”

The key components here are 1) a commitment to “objective analysis”, 2) providing “the tools to understand and evaluate complex decisions”, and 3) independence from political parties that allows the IFS to hold politicians to account. Its guiding purpose is to show when “numbers don’t add up” and when policies are “poorly designed”.

The meaning of words is quite important here. One can claim “objective analysis” by applying the same assessment criterion to each proposal and still be biased. It is possible for a policy to be “well designed”, with numbers that “add up”, which would also impose devastating social costs. The IFS’s narrow criteria implicitly (or in some cases explicitly) ignores these social costs. This judgment reflects a clear bias in favour of accounting balance over social outcome.

Similarly, the claim of “independence” explicitly refers to no links to political groups. Crucially, however, this does not prevent political bias.

The political ideology of the IFS

Olivier Blanchard, Senior Fellow at the Washington-based Peterson Institute for International Economics (PIIE) and former chief economist of the International Monetary Fund (IMF), recently sparked debate in the economics profession with the following tweet:

The IFS’s view of fiscal policy conforms to Blanchard’s “counterproductive” approach. Its pledge to verify “the numbers” clearly presupposes a tendency for “politicians of all stripes” to “misbehave” by misrepresenting their policies as more favourable than they actually are.

This presumption of misbehaviour also manifests itself in the IFS’s use of the term “net giveaways” in relation to spending measures. The term carries a pejorative connotation, implying that the purchase of votes dominates the fiscal decisions of politicians. For example, free bus services for the elderly is portrayed as a “giveaway” – not a policy designed to reduce social isolation.

The IFS’s political ideology reveals itself most obviously in its approach to inequality. At several points on its website we are warned that “reliance on taxing ‘the rich’ and big companies to pay more has its limits and would be far from risk-free”. We find no equivalent warning about the risks associated with increased inequality or the growing concentration of corporate power. Repeatedly placing rich in inverted commas is in itself an indicator of political orientation.

Another concrete example of political bias can be found in the discussion of “living standards and prospects of younger generations”. The IFS attributes the problems younger households face entering the housing market to demographics, a rising average age of the population and (strangely enough) low interest rates.

The financial market deregulation that has fuelled property price inflation goes unmentioned. We are warned of a “long-term change in the balance of economic power” between young and old – but not poor and rich, or labour and capital.

The economic ideology of the IFS

My PEF colleague Richard Murphy has succinctly identified the fundamental economic bias in IFS’s work, namely its application of microeconomic techniques to what are macroeconomic issues. The assessment of fiscal policy should be placed in the context of the economy in its entirety to identify the direct and indirect effects of policies as they work their way through markets over time.

The standard way to achieve this economy wide approach involves using an interactive “model” of our economy. Ten years ago the IFS offered training in “dynamic econometric models”, though it does not appear to use models for its assessment of the fiscal proposals of political particles, offering instead what it calls “best educated guesses”.

The IFS suffers from serious misbranding. It identifies itself as an organisation that studies fiscal issues, when in practice its subject is a very narrow version of what is known in the economics profession as “public finance”. The difference comes out clearly in the description of a “Public Finance” course at the London School of Economics, which “draws on microeconomic theory [for] the development of analytical tools and their application to key policy issues relating to the spending, tax and financing activities of government”.

That emphasis on microeconomics is in contrast to another course at the same institution, “Introductory Macroeconomics”, described as “[a]n overview of the behaviour of the economy in the short term”, where one finds fiscal policy in the “part of the course [that] reviews business cycle fluctuations, the design of monetary and fiscal policy, budget deficits and government debt and the open economy.”

To the extent that the IFS provides “the tools to understand and evaluate complex decisions” they are the wrong tools. The IFS’s microeconomic approach by its nature presumes the economy to be stationary at maximum output (full utilization of resources). At maximum, an increase in spending has no feedback effects on tax revenue through household or corporate incomes. Treating the economy as stationary excludes feedbacks as our economy grows.

We find a clear example of the fallacy of microeconomic arguments in the recent IFS study of the impact of Conservative and Labour plans to raise the minimum wage. The IFS report inspects who would receive the proposed wage increases and concludes that the vast majority of poor people in work would not benefit, in part because they are self-employed.

However, an accurate assessment would also consider the impact of changes in the minimum wage on the economy as a whole, not merely those directly affected. Research indicates that the overall impact of minimum wages includes effects on aggregate purchasing power and productivity plus its spread effects through the entire labour market. The IFS’s focus on direct effects is at best trivial.

Independence and bias

The IFS is regularly called a “watchdog” for politicians’ policy proposals. But it would be more accurate to describe it as an expert in the bean-counter approach to policy assessment.

The basic problem lies not in the political bias or orientation of the IFS. I directed a small research organization for 20 years, which was, as the IFS claims, objective, independent and unaffiliated to political parties or interest groups. Our analytical orientation was clear and well-known. Our studies tended to be critical of mainstream analysis, and organisations came to us with that outcome in mind.

The basic problem of the IFS is not that the conclusions of its studies are predictable and easily anticipated; it is that its studies are not well done. They apply the wrong tools, and treat macroeconomic issues as if they were microeconomic. As Robert Chote, the former director of the IFS admitted: “they don’t do macro”.

By ignoring social, political and macroeconomic effects, IFS studies do not tell us whether a policy is a good idea, only whether “the numbers add up”.

At this election, we deserve better.

This piece is cross-posted from Open Democracy. The views in this piece reflect those of the author, they do not necessarily reflect the views of the Progressive Economy Forum as a whole.

Photo credit: Flickr/Howard Lake.

The post We need to talk about the Institute For Fiscal Studies appeared first on The Progressive Economy Forum.

The Rise of the Right

Published by Anonymous (not verified) on Thu, 21/11/2019 - 8:30am in

GIMMS is pleased to be able to present for our MMT Long Read two chapters of the book “The Rise of the Right – English nationalism and the transformation of working-class politics” by Professors of Criminology Simon Winlow, Steve Hall and James Treadwell.

“Throughout Europe right-wing populism has grown to the extent that we can now legitimately begin to think about the very real possibility of a fascist future. The new right-wing nationalism will not be a carbon copy of 20th-century European fascism, but fascism it will be, nonetheless. For years this seemed unthinkable…We must recognise that the adoption of hippy counter-culturalism was a colossal error, and then begin to repair some of the damage it has caused. The first step is to reconnect with the working class with a renewed order of grounded universal ethics and truthful symbolism comprehensible to all cultural groups…the left can be rehabilitated. Reconnecting with the working class and persuading them to believe in its project is a very difficult task, but it can be done.”

The Rise of the Right – English nationalism and the transformation of working-class politics

The Rise of the Right cover

Originally published by Policy Press in 2017.  Permission granted by the publisher to use this content.

https://policy.bristoluniversitypress.co.uk/the-rise-of-the-right

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Film review: Sorry We Missed You

Published by Anonymous (not verified) on Mon, 18/11/2019 - 2:00am in

Philip Roddis “I never thought it would be this hard”, says Rickie Turner to Abby his wife, holding her tight in a brief moment of intimacy before sleep overtakes them. Rickie is working fourteen hours a day, seven days a week. Abby is a zero hours carer, one of tens of thousands of casualised front …

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