Our Institutions No Longer Serve This New Era. The Public Understand, Why Haven’t We?

Feel I should flag up a talk “Our Institutions No Longer Serve This New Era. The Public Understand, Why Haven’t We?” on last Wednesday week’s ′21st-Century Power: the state, citizens and civil society’ event in London. The Labour MP for Wigan, Lisa Nandy, was reported verbatim by the [link]’Huffington Post’ and this is well worth a 4 minute read.

In the sense that she understands how modern politics is broken it is very encouraging stuff and certainly demonstrates that there is, after all, at least one thinker in Parliament. No wonder the ‘Guardian’ journalist, Owen Jones, tried to persuade her to run for the leadership. Instead she co-ordinated Owen Smith’s campaign. Which suggests of course, that she doesn’t view Jeremy Corbyn as the ideal leader. I doubt whether many of us really do but he is there, distinctly decent, and offers hope to most of us.

She, however, is little more than half his age so in the future, she will still have the opportunity of offering us hope…

Whilst I’m impressed with her analysis, I suggest that much improved hope will come from explaining to her where money comes from. That is why and what most people – and especially politicians of the left haven’t understood.

I put it thus because I’m increasingly convinced that those on the right do get the creation of money – probably because neoliberal bankers have confided in them in order to achieve additional benefits. But those on the left are mostly in the dark – or at least too fearful openly to take money creation on board.

As she makes no mention of money it seems to me Lisa Nandy is likely to be in the first category.

If there are any of her constituents reading this, then this is your rallying cry.

Otherwise, I intend sending her an old fashioned letter!




  1. Jim Green -

    Good, as far as it goes…but if she has faith in the state playing a significant or leading part in rectifying the problems caused by the neoliberal hegemony, she doesn’t mention it. What about ‘The Courageous State’ (Richard Murphy)? What about ‘Reclaiming the State’ (Bill Mitchell)?

  2. Peter May -

    Agreed. If you were marking her essay you would be encouraged but still say ‘needs more work’. It is perhaps indicative that I, for one, was impressed as this sort of thinking seems to be vanishly rare in today’s House of Commons.

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