An Economic Strategy for Labour
Over at Left Foot Forward, Will has been kind enough to say that:
Duncan Weldon has set out an alternative and arguably more realistic strategy of “re-balancing domestic demand and, in the final analysis, being less import-reliant.”
My “alternative and arguably more realistic strategy”, (not to be confused with an “alternative economic strategy”) was set out in the following posts last year:
The Deficit, Currency Wars and Global Imbalances: The Social Democratic Solution, on the need for policies to increase investment and run down the corporate surplus.
The Centre Left and Globalisation, which asked questions I feel the mainstream centre-left is ignoring about the changing nature of the international economy.
In Questioning Export-Led Growth, I challenged the idea that export-led growth is attainable, or (for a social democrat) desirable.
Taken as a whole I think this approach offers a distinctive way forward for Labour, more in line with traditional values than either the austerity of the coalition or New Labour’s lack of focus on inequality and more likely to lead to stronger, better balanced growth in the future.