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Jeremy Corbyn WINS (40+) economists’ backing for anti-austerity policies watch

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    Jeremy Corbyn's opposition to austerity is actually mainstream economics, even backed by the conservative IMF. He aims to boost growth and prosperity. He voted against the shameful £12bn in cuts in the welfare bill.

    More than 40 leading economists, including a former adviser to the Bank of England, have made public their support for Jeremy Corbyn’s policies, dismissing claims that they are extreme, in a major boost to the leftwinger’s campaign to be leader.

    http://www.theguardian.com/politics/...P=share_btn_tw
    http://news.sky.com/story/1540216/co...-40-economists

    The list:
    David Blanchflower
    Bruce V Rauner professor of economics, Dartmouth and Stirling, ex-member of the MPC

    Mariana Mazzucato
    Professor, Sussex

    Grazia Ietto-Gillies
    Emeritus professor, London South Bank University

    Malcolm Walker
    Emeritus professor, Leeds

    Robert Wade
    Professor, LSE

    Michael Burke
    Economist

    Steve Keen
    Professor, Kingston University London

    Victoria Chick
    Emeritus professor, UCL

    Anna Coote
    NEF personal capacity

    Ozlem Onaran
    Professor, Greenwich

    Andrew Cumbers
    Professor, Glasgow

    Tina Roberts
    Economist

    Dr Suzanne J Konzelmann
    Birkbeck

    Tanweer Ali
    Lecturer, New York

    John Weeks
    Professor, SOAS

    Marco Veronese Passarella
    Lecturer, University of Leeds

    Dr Judith Heyer
    Emeritus Fellow, Somerville College, Oxford

    Dr Jerome De-Henau
    Senior lecturer, Open University

    Stefano Lucarelli
    Professor, University of Bergamo

    Paul Hudson
    Formerly Universität Wissemburg-Halle

    Mario Seccareccia
    Professor, Ottawa

    Dr Pritam Singh
    Professor, Oxford Brookes

    Arturo Hermann
    Senior research fellow at Istat, Rome

    Dr John Roberts
    Brunel

    Cyrus Bina
    Professor, Minnesota

    Alan Freeman
    Retired former economist

    George Irvin
    Professor, SOAS

    Susan Pashkoff
    Economist

    Radhika Desai
    Professor, University of Manitoba

    Diego Sánchez-Ancochea
    Associate professor, University of Oxford

    Guglielmo Forges Davanzati
    Associate professor, University of Salento

    Jeanette Findlay
    Senior lecturer, Glasgow

    Raphael Kaplinsky
    Emeritus professor, Open University

    John Ross
    Socialist Economic Bulletin

    Steven Hail
    Adjunct lecturer, University of Adelaide

    Louis-Philippe Rochon
    Associate professor, Laurentian

    Hilary Wainwright
    Editor, Red Pepper

    Arturo Hermann
    Senior researcher, ISAE, Rome

    Joshua Ryan-Collins
    NEF personal capacity

    James Medway
    Lecturer, City University

    Alberto Paloni
    Professor, Glasgow

    Dr Mary Roberton
    Leeds
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    40 people supporting something does not make it mainstream.
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    (Original post by Reue)
    40 people supporting something does not make it mainstream.
    The conservative IMF supporting it certainly helps.

    What Corbyn is proposing is not radically different to what 'mainstream' Blair was in 1997.
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    (Original post by Reue)
    40 people supporting something does not make it mainstream.
    You're being ridiculous and you know it. These people are teaching and working in their field. They would more likely know what is extreme or mainstream more than a news reporter, government ministers or person on student forum.
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    Hundreds of architects believe 9/11 was an inside job. Doesn't mean I'm going to start believing that. I'm always skeptical of these letters. I doubt it'd be hard to find 40 economists who believed his policies would bring ruin.

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    (Original post by Bornblue)
    The conservative IMF supporting it certainly helps.
    The International Monetary Fund is not "conservative", it is an international organisation of which the overwhelming majority of countries are member-states. It also doesn't go around endorsing political candidates or their economic views. There is absolutely no truth in this.

    Corbyn doesn't actually have an economic plan. He's talking about spending more in every area - there's no costings, no explanation of how to raise the money.

    He'd probably do well to become familiar with the IMF. If he ever became Prime Minister, he'd be going cap-in-hand to it within two years.

    (Original post by Erzan)
    You're being ridiculous and you know it. These people are teaching and working in their field. They would more likely know what is extreme or mainstream more than a news reporter, government ministers or person on student forum.
    Being a lecturer at a university (and looking at a few of them, they're not all economists) does not make you any better qualified than anyone else to make political judgements. Indeed, in my experience there are plenty of academics that will support absolutely mental policies.
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    You could pick a load of economists and university lecturers who support austerity, does not mean anything. The fact 99% of businesses support Tory measures is more significant to me. Not a load of probable Labour and left wing supporting economists. There are 10,000s of them around, unless they come out and support Corbyn I am not listening.

    No one even considered if those surveyed were left wing voters anyways so their intention is unknown. Last election the Tories had 100s of economists backing them, none of those names ring a bell. I suspect personal ambitions have come into play here, not actual critique of austerity as the articles provide next to no key details of the opposition from an economic stand point, just "it is mainstream".

    Do people not remember the economists who advised Brown and Blair before and during the crash? Their advice after was heavily criticised as the UK was one of the worst hit due to running an extremely high deficit, printing money as a solution, selling off state assets like gold for disgusting prices, increasing borrowing, increasingly running interest rates at a stupid level, and so on. Economists are not gods and ones who certainly follow Labour have been proved to be god awful.
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    (Original post by L i b)
    The International Monetary Fund is not "conservative", it is an international organisation of which the overwhelming majority of countries are member-states. It also doesn't go around endorsing political candidates or their economic views. There is absolutely no truth in this.

    Corbyn doesn't actually have an economic plan. He's talking about spending more in every area - there's no costings, no explanation of how to raise the money.

    He'd probably do well to become familiar with the IMF. If he ever became Prime Minister, he'd be going cap-in-hand to it within two years.



    Being a lecturer at a university (and looking at a few of them, they're not all economists) does not make you any better qualified than anyone else to make political judgements. Indeed, in my experience there are plenty of academics that will support absolutely mental policies.
    They are costed and he has very clearly explained how he will raise the money :/.
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    1 in 4 'British' Muslims sympathised with the 7/7 bombers.
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    (Original post by Bornblue)
    They are costed and he has very clearly explained how he will raise the money :/.
    So he wants further integration in the EU but wants to curb tax avoidance? Everyone with a brain already knows the EU caused tax avoidance among European nations. Increased transparency between nations and interlocking economic links meant a corporation could station itself in say Ireland but run business transactions in the UK using Ireland as a tax haven. Belgian and Jean Claude Junker's beloved Luxembourg are tax havens, plus Switzerland and various others. How the **** does Corbyn expect to prevent tax avoidance without leaving the EU? Reforming it is already off the table as EU nations and the EU Parliament has stated, they will not engage in forcing other nations to increase their corporation tax so how the **** will Corbyn do it?

    Will he invade the EU nations?
    Will he force EU treaty change at a level impossible and unseen in the history of the EU?
    Will he just get God's head out of his *** and use diving inspiration?

    You people are hilarious. 40 random people out of 10,000s of economists who happen to be uni lecturers, former Labour advisors, former bank advisors or researchers and suddenly you think Corbyn is an economic genius, good god you people lmfao.
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    I do not understand you people, you believe Socialism and state controls of business and finance results in a prosperous economy. Name one country who follows Corbyn's measures and is prosperous. Not successful America, Not successful Germany, not successful Japan, not successful UK, not successful France, not successful Italy, not India, Brazil and so on. China had a similar outlook but in the 80s underwent extensive privatisation and decentralisation. Since it's economy has sky rocketed. Corbyn would go backwards but unlike China we don't have the sheer size of industry. All successful economies are capitalist with a free market and privatisation. Corbyn has no model country, just a book of Marxism.
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    (Original post by The one ed)
    I do not understand you people, you believe Socialism and state controls of business and finance results in a prosperous economy. Name one country who follows Corbyn's measures and is prosperous. Not successful America, Not successful Germany, not successful Japan, not successful UK, not successful France, not successful Italy, not India, Brazil and so on. China had a similar outlook but in the 80s underwent extensive privatisation and decentralisation. Since it's economy has sky rocketed. Corbyn would go backwards but unlike China we don't have the sheer size of industry. All successful economies are capitalist with a free market and privatisation. Corbyn has no model country, just a book of Marxism.
    A lefty is going to come in here and claim Scandinavia - even though their corporate tax rates are lower than in the US.

    Go 3 years back and they would have been using Venezuela as an example.

    Now suffering from bread queues, empty shelves and the electricity going off every day.
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    (Original post by L i b)
    Corbyn doesn't actually have an economic plan. He's talking about spending more in every area - there's no costings, no explanation of how to raise the money.
    This is blatantly untrue. Here is the link to his economic plan: http://www.jeremyforlabour.com/inves...nd_tax_justice

    And this article analyses his economic policies: http://www.project-syndicate.org/com...delsky-2015-08

    (Original post by The one ed)
    The fact 99% of businesses support Tory measures is more significant to me.
    The reason that big businesses support the Tories is because they introduce measures that help big businesses to make profit, often by eroding workers' salaries, job security and working conditions. Not because the Tories' policies stimulate economic growth across the board.

    And as for the global financial crash and how labour coped with it, the consensus amongst economists is that if Brown had not implemented Keynesian economics, we would be in much more dire straits economically than we are now.
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    (Original post by LockheedSpooky)
    A lefty is going to come in here and claim Scandinavia - even though their corporate tax rates are lower than in the US.

    Go 3 years back and they would have been using Venezuela as an example.

    Now suffering from bread queues, empty shelves and the electricity going off every day.
    Then you have France trying its best to run GDP growth at level while we sit on a lovely 3+%, Russia after the Soviet Union was more like a Victorian England if that. Take socialist nations like Cuba and North Korea- not exactly Utopias. Lefties despise Capitlism so much yet do not realise all socialism brings is economic deprivation which brings social collapse, have these guys never read a history book past the traditional Marxist ones?
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    (Original post by The one ed)
    Then you have France trying its best to run GDP growth at level while we sit on a lovely 3+%, Russia after the Soviet Union was more like a Victorian England if that. Take socialist nations like Cuba and North Korea- not exactly Utopias. Lefties despise Capitlism so much yet do not realise all socialism brings is economic deprivation which brings social collapse, have these guys never read a history book past the traditional Marxist ones?
    They despise capitalism so much, they're willing to sell their soul and collude with Islamist extremists in order to confront western capitalism.

    It's astounding how morally-bankrupt they are. History has repeatedly shown that socialism stunts creativity, dynamism and innovation. It always ends up collapsing into a heap of bankruptcy.
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    (Original post by Kokopod)
    This is blatantly untrue. Here is the link to his economic plan: http://www.jeremyforlabour.com/inves...nd_tax_justice

    And this article analyses his economic policies: http://www.project-syndicate.org/com...delsky-2015-08



    The reason that big businesses support the Tories is because they introduce measures that help big businesses to make profit, often by eroding workers' salaries, job security and working conditions. Not because the Tories' policies stimulate economic growth across the board.

    And as for the global financial crash and how labour coped with it, the consensus amongst economists is that if Brown had not implemented Keynesian economics, we would be in much more dire straits economically than we are now.
    What utter rubbish, brown has faced extensive criticism of his approach. His policies drove us deeper into a hole that could of been less detrimental had they listened to economic forecasts outside their private group of economic advisors and not run a deficit at such a high rate. What followed was worse. All brown did was print money and sell off valuable assets which if sold now would go for 30 times the price, he was great.Then at the end of the parliament, Labour and the economic advisors had the cheek to leave a note singed and dated detailing there was no money left.

    Labour basically admitted they ****** up yet you still remain loyal and defend them. Lol, lucky for you majority of the electorate can not even put Labour and economic competence in the same sentence so your statement won't transpire far thank god- I have never heard such rubbish.

    Your entire answer regarding businesses revealed your clear hatred for them. Your opinion is flawed as a result. Businesses are at the forefront of investment, job creation, creation of infrastructure and business space, technological and engineering advancement, creation of global networks, stabilising economic growth and setting up an economic profile for a nation which is crucial for further investment. Then you have the cheek to dismiss their opinion in favour of only 41 so called economists made up of former bank and Labour advisors as well as university lecturers and researchers, among 10,000s more respective and active economists who said no such thing. Seriously how can I take what you say seriously? Telling me Jeremy is an economic mastermind is absurd, how desperate can you be?
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    (Original post by Reue)
    40 people supporting something does not make it mainstream.
    Being mainstream in and of itself doesn't make something correct either. Just because the idea that the Sun orbits the Earth was once mainstream didn't make it true. Which is where a lot fo mainstream economics stands to be honest.

    It does however mean that if economic academics can attest to the credibly of corbyn economics you can't continue treating us left wingers as being naive clueless children when it comes to the economy. It's just a rigorous well thought different side of the debate.
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    (Original post by LockheedSpooky)
    They despise capitalism so much, they're willing to sell their soul and collude with Islamist extremists in order to confront western capitalism.

    It's astounding how morally-bankrupt they are. History has repeatedly shown that socialism stunts creativity, dynamism and innovation. It always ends up collapsing into a heap of bankruptcy.
    They call us selfish scum yet we actually have a conscience when it comes to drowning future generations in debt. The left dismiss it as tomorrow's problem. History has shown only those who live ahead in terms of their governmental procedure are the ones who build a better future. I am no Tory voter but I respect the stance they took on the economy. Austerity was unpopular and is still considered unpopular because people want to live the high life regardless of whether it is affordable. Yet the Tories still went that route and we are on course to overtake Germany soon, it is a perfect example of accepting present times as being tough but building towards a more financially stable and financially secure economy.
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    The mainstream economic consensus is socialist, I don't think anyone cares.

    The British population is libertarian and will not elect a socialist into office.
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    (Original post by ChaoticButterfly)
    Being mainstream in and of itself doesn't make something correct either. Just because the idea that the Sun orbits the Earth was once mainstream didn't make it true. Which is where a lot fo mainstream economics stands to be honest.

    It does however mean that if economic academics can attest to the credibly of corbyn economics you can't continue treating us left wingers as being naive clueless children when it comes to the economy. It's just a rigorous well thought different side of the debate.
    The Tories have many economists backing them too but what? Are they just money greedy bankers whose opinion is invalid in comparison to Corbyn? Seriously what makes these 41 economists, either former bank advisors (oh great), former labour advisors (even better) and university lecturers (yep just brilliant) more attuned to economics than the current 10s of thousands of economists who are active and in the field every day who have not said such a thing?
 
 
 
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