Can Keynesian
economics pull us out of the mud
Advokating
Keynes
Britain's is
stuck in the mud of Thatcherism and is sinking more every day.
At best the
Labour government is operating a managed decline.
A return to
Keynesian economic policies can pull us out of the mud with positive and
pro-active government action.
we don't
need socialism
socialism is when the
government
takes almost full
control of things.
we are not
ready for this yet but we might be
if we continue with Thatcherite austerity
The core argument for
Keynes
Britain has
suffered from chronic low public investment for years. In 2010 George Osborne
introduced austerity. Austerity is being continued to this very day by Rachel
Reeves. Austerity is a Thatcherite ideology.
It is
designed to do one thing and one thing only.
'ammer the public sector down as much as possible
This has
bled us dry over 15 years and is still happening now in
- infrastructure decline
- low wages
- insufficient demand
Thatcherism
has failed and the quicker we recognise this and take action to change things the
better.
The results
of not taking action will be
socialism
or Reform
The
government is a massive influence on the economy
Bold action
is needed
Britain has
a strong sovereign (fiat) currency.
The ability
to create and use currency reserves through the central bank - the Bank of
England.
A global standing where British national 'credit' is sound.
These facts
of economic life give the government plenty of room to act as it did in the
from 1945 to 1975ish
in the financial crisis of 2008
in the pandemic of 2020
The
government must somehow, someway change from Lino, labour in name only, to a real Labour
government. Sack Rachel Reeves and put a Labour chancellor in her place (if
there is one). Chnage rteally does mean change and includes a change of leadership of the Labour party
Labour then
needs to invest in and boost Britain’s productive capacity. Summarised in
build ships in
Sunderland again
Build the
houses we need to give every family a decent home as both the Conservatives and
Labour did in the 1950s and 60s. Bulldoze planning restrictions if necessary.
Rayner and
her plans have been sidelined by Reeves.
Boost public
resources like the NHS to the maximum instead of starving them.
Wages need
to go up and profits need to go down. This is counter intuitive because if wages
go up and profits come down - profits will grow due to the increased consumer
spending. the economy will also grow too.
Keynes can
be summed up by adjusting Corbyn's flawed strapline into
for
the many as well as the few
Summary
of Keynesian economics from Investopedia http://bit.ly/4olEUvl
Learn about economics
so that you can make an objective decision when it comes to voting in elections,
posting on social media or discussing with friends.
Dispatch 21 2025 advokating a return to Keynesian economics
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