
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.
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