Duncan’s Economic Blog

Go Read This…

Posted in Uncategorized by duncanseconomicblog on May 5, 2009

Excellent post up on LabourList from Adam Lent of the TUC.

As I’ve commented over there:

Adam,

I think this is a superb post and is exactly the kind of thinking we need right now.

The next manifesto needs to be framed around two issues:

(i) How do we rebalance the British Economy away from finance, property and over consumption in a world opf less credit?

(ii) How do we go about paying down debt?

I agree that the debt issue is overblown, but we also need to accept that there is a limit to borrowing – although we are not at that limit.

2 Responses

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  1. tim f said, on May 5, 2009 at 7:25 pm

    I agree.

    A lot of swing voters on the doorstep seem to want to talk about old-fashioned Labour ideas. By that I don’t mean ideas from the 80s, I mean ideas from the 50s and 60s. Industrial strategy, a planned economy, that kind of thing. I have to admit, this has surprised me, but I’ve ended up having that conversation enough recently to think there’s mileage in talking about it openly – not just with audiences we think will be interested in that kind of thing like trade unions, but adopting it as part of our narrative. It’s a good dividing line because this crop of Tories are so ideologically bound to the market that they’ll recoil from anything that sounds like a democratically planned economy. But there are working class Tory voters who want to see a nationally driven economy and there are middle-class voters who want to see a more complex vision for our economy and understand the need for advanced manufacturing and green technologies.

    If that all sounds too complex to put in a narrative, it can be boiled down to the Obama line that we need to create twenty-first century jobs for our children and businesses can’t do it on their own because they’ll need help to change their way of doing things.

  2. VinoS said, on May 6, 2009 at 4:46 pm

    Sounds like a good idea, Tim. We can’t go on with our current economic balance – which is tilted way too far in favour of the financial sector and speculation.


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