Labour needs to reset the paradigm

Following a conversation with left leaning friends (hopefully they are even more left leaning now!) it seems to me that Labour have to recognise that a Starmer government repeating New Labour’s idea of managing neoliberalism rather better than the Tories is not enough (and even Gordon Brown seems to accept this now, which must be difficult for him.)

Neoliberalism has categorically failed. It doesn’t work. It’s based on the false principle of a government as a household, which is supposedly saddled with lots of debt from private lenders, when, in fact, government actually owns a bank and also the Royal Mint, which after all, prints coinage at will.

Labour needs to ditch the Conservative neoliberal narrative. It needs to completely reset the paradigm and in so-doing give hope for the future to millions of voters.

In order to do that, I can see no other way than that it has properly to understand money.

The most powerful Tory trope is ‘there is no money’, when it is a human invented system of allocating resources – which often nowadays seem to be rather misdirected….

My Labour MP is retiring at the next election and I’ve now joined Labour to try to ensure there will be at least one Parliamentary candidate who understands money…

One of them certainly does and he’s a young radical who suggested I read the Deficit Myth… But he may be deemed too young to be nominated, so ensuring every candidate has read it or at least understands its ideas is the first challenge….

We’ll see….

Comments

  1. Paul Wright -

    Labour cannot let go of neoliberalism because that is attached to the success of Blair and the Tory Lite beliefs of the vast majority of Labour MPs.
    Likewise the they cannot let go of the FPTP system which is much less threatening to the MPs than a system of PR. Further then ask yourself why trade unions would favour PR?; PR dilutes their influence within the Labour party.
    Labour presently cannot bring itself to be radical and thus fall foul of the media billionaires. This cabal ensures that Labour cannot address Money, Brexit, Scottish independence, real climate action, Poverty, untaxed unearned income, dreadful housing and inequality, without being called ‘far left’.
    Finally, Starmers stodgy Labour seems incapable of being a broad church full of ideas. Indeed Starmer has gone out of his way to disunite the party in spite of his leadership election pledges. If a broad church within the party cannot be achieved, then what hope of an alliance with other political parties! Poor old Compass, you try so hard.
    A new paradigm! the progressives all crave for that, but it wont happen with messrs Billionaire loving Mandleson and Starmer calling the shots.
    I can only hope that a paradigm change will come from the grass roots. When the crap governing of the past decades drives the population to action. A.C. Grayling said recently ‘ If you poke the bear too much, it will eventually awaken and become angry.’ Who knows.
    I agree with your sentiments that neoliberalism has patently failed Peter, but I simply dont see Labour being anything else but neoliberal.
    Labour is the establishment, just like the Corporation of the City of London and the royals. Amen.
    Thanks for the blog.

    1. Peter May -

      I rather agree – falling foul of the media billionaires seems to be their major fear.
      That’s why I’m hoping in a tiny way to ensure the have only radical MPs, who understand money to work with!

  2. Graham -

    “ I’ve now joined Labour”. May I offer you my best wishes for a speedy recovery 😉. Desperate times call for desperate remedies.

    But neoliberalism is working as intended, just not for 99.9% of the population. Just look at multimillionaire Blair.

    An interesting article on the new leader of UNITE who claims it’s bosses who are causing inflation. I wonder if she understands money?

    https://www.theguardian.com/commentisfree/2022/jun/17/profiteering-bosses-workers-inflation-unite-sharon-graham-labour

  3. Peter May -

    Speedy recovery noted 🙂 I don’t know if Sharon Graham understands money – but she does understand her function is to get the best pay and conditions for her members and has some clever ways of leveraging it!

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