SPERI teach-in event on ‘Corbynomics’

On Wednesday October 28th SPERI will hold a teach-in event to explore the economic policies put forward by Jeremy Corbyn in his successful campaign to be elected as Labour Party Leader. The so-called ‘Corbynomics’ ideas were first set out in July in Jeremy Corbyn’s policy document ‘The Economy in 2020’. Since then a significant debate about the ideas has begun, and with the election of Corbyn and appointment of John McDonnell as Shadow Chancellor that debate looks set to continue. SPERI’s event will look at the key issues within this debate and ask:

  • What are the key ideas of ‘Corbynomics’? And what’s new?
  • What is People’s Quantitative Easing, and how would it work?
  • Is it possible to close the tax gap? What’s corporate welfare?
  • Is Corbynomics a potential new economic paradigm or just Keynesianism in new clothes?

To explore these questions and lead a discussion we will be joined by:

  • Professor Andrew Gamble –SPERI Professorial Fellow and author of many distinguished books on political economy
  • Dr Jonathan Perraton – SPERI Associate Fellow, Department of Economics
  • Dr Mary Robertson – Postdoctoral Research Fellow in the economics division of Leeds University Business School

The teach-in event will be held in the main lecture theatre in the Richard Roberts Auditorium between 2.00-3.30pm.

You can now register your place at the event here:

We hope you’ll be able to join us for this timely and informative discussion.

Before the event you might find this selection of articles and blogs useful:

If you’ve seen anything interesting on Corbynomics that you would like to share please post it in the comments below or share it on SPERI’s Facebook’s page.

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24 September 2015 by
Categories: News | Tags: , , | 3 comments

Comments (3)

  1. Paul Mason, in our interview (http://www.bigissuenorth.com/2015/09/network-ratings/14545): ‘For Corbynomics to have a chance of working he would have to create an alliance around him of the old Labour left, the horizontalist left and the centre of the Labour Party – and it would need a growth plan, not just opposition to austerity. “For Corbynomics to be anything more than a good idea it would have to say realistically what a Labour government would do.”‘

  2. Marxist blogger Michael Roberts has also written some interesting articles on Corbynomics, and believes that it amounts to a Keynesian approach. He does not agree that lack of demand is the problem, rather lower profit rates and lack of investment by corporations.
    He also argues in another article that a National Investment Bank, as proposed, would not achieve sufficient investment, since most banks would remain private, along with large corporations, and they would still be making most of the decisions about investment.

    https://thenextrecession.wordpress.com/2015/09/30/british-labour-marxist-mcdonnell-and-deficit-denying/

  3. Challenging the “household” model of the economy! –

    Imagine 2 parents deciding to issue their own currency to be used within their household and setting up a voucher scheme. If the children behave and do chores around the house they receive vouchers. They can spend them on treats (going to the zoo) or if they misbehave, they pay back with a voucher (tax).

    •Now, what are these parents going to say to these children, stop cleaning and stop taking the dog for a walk because we’ve run out of vouchers? Of course not, the parents can even have the vouchers on a spreadsheet (this is exactly what’s happening with our real money at the BoE!), they don’t even need to waste paper!!!

    •If the children are so eager to help, just give them the chance and pay them another voucher! Just like in the real economy when there are loads of jobs that need doing and people are desperate and willing to do them. There is no limit to the number of vouchers, the only limit is the number of chores that need doing.

    •If the children end up with more vouchers than they need, the children can always save them for the rainy days, just like we do, we have saving desire for the rainy days.

    (the parents are the state, the children are the households)

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