No hope – just belief

The central tenet of the Conservative campaign seems to be a beauty contest of personalities with Jeremy Corbyn as chief ogre.

The only Tory plan is austerity, which is largely uncosted. Otherwise there is hardly any plan – and certainly none for Brexit.

Unfortunately the beauty contest has been interrupted by bombings and murders.

Yet, still Police cuts are to stand. Terrorism will be solved with (costless) new legislation. There will be no additional investment in the health service or education. And, although there are less of them than before, 15% more of us are dying in fires – yet the fire service will be cut.

Any personal care at home that was free will now have to be paid for and houses will be commandeered by insurance companies for dementia patients.

And meanwhile, under Conservative economic management and unlike almost everywhere else, we have had an average wage reduction:

 

What an alluring litany of love and hope.

Who on earth wants any of this?

A Conservative vote can only be a vote for self-flagellation.

If by some mischance the Conservatives win, it must surely be proof of rampant Stockholm Syndrome among the electorate, brought about, presumably, by an uncritical and right wing media.

No sane individual could possibly consider the Conservative plans worthy of their support, could they?

But of course it is scandalous that Jeremy Corbyn speaks to crowds and doesn’t always wear a tie.

BoM June 2017

Our June Book of the month is Debunking Economics by Steve Keen. Debunking Economics exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. When the original Debunking was published back in 2001, the market economy seemed invincible, and conventional ‘neoclassical’ economic theory basked in the limelight. Steve Keen argued that economists deserved none of the credit for the economy’s performance, and that ‘the false confidence it has engendered in the stability of the market economy has encouraged policy-makers to dismantle some of the institutions which initially evolved to try to keep its instability within limits’. That instability exploded with the devastating financial crisis of 2007, and now haunts the global economy with the prospect of another Depression. In this radically updated and greatly expanded new edition, Keen builds on his scathing critique of conventional economic theory whilst explaining what mainstream economists cannot: why the crisis occurred, why it is proving to be intractable, and what needs to be done to end it. Essential for anyone who has ever doubted the advice or reasoning of economists, Debunking Economics provides a signpost to a better future.