Is the economics getting lost in Labour’s Leadership debate? I think so. Only Jeremy Corbyn is talking real economics, the others led by Liz Kendall are talking about credibility, which I assume is code for reducing the deficit through fiscal policy i.e. expenditure cuts and tax rises. I am disappointed in Yvette Cooper, yet strangely not surprised by Andy Burnham.
Corbyn is not arguing for a Soviet style economy, the macro-economics is Keynesian, the micro-economics maybe socialist because he argues, in contrast to the Tories and their media shills, that wealth is created by both workers and entrepreneurs.
The question I wanted to ask,
How do you defend the right to privacy in the internet age, where governments and corporations are so keen to deny it? Will you support reform of the internet and telecommunication search warrants to ensure they are only issued with probable cause justified in front of independent judges?
So the Leader debate is becoming about winning in 2020, how to win back the Tories and the Presidential qualities of the candidates, that’s what the Press are saying and that’s what the supporters of the three wise monkeys are arguing. The question that needs to be proved by them is that they are any more likely to win than Corbyn with his Keynesian anti-austerity policy. I attended the London Hustings for Labour’s Leadership yesterday. I don’t think it will have changed many people’s minds.