This turns our understanding of economics on its head

You can almost hear the howls of derisive laughter were Jeremy Corbyn to seriously push this approach to the economy. Indeed he has – and he was subjected to exactly that.

No serious economist dares push this too hard for fear that their own professional credibility would be  undermined; nor indeed any  politician without risking the ire of the right wing press, so strong is the grip of the neoliberal economic model which encourages us, from Thatcher onwards, to compare government spending to a household budget. We are constantly warned of the debt we leave to future generations should we transgress the boundaries of ‘responsible government’. And if that means we can’t afford public services like the NHS,  so be it – get over it!

Then along comes Richard Murphy, a lone voice and a professor of economics who has to put up with an impossible degree of invective from right wing trolls for daring to push a different vision. This is an exciting and progressive policy which every centre-left party  should sign up to. However it is not just about a Green economy but a different way of doing economics.

How Green Infrastructure Quantitative Easing would work

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One thought on “This turns our understanding of economics on its head

  1. What an interesting, and apparently workable, idea. Wouldn’t it be great if a Cornish Co-operative could be set up to produce lithium for battery storage, and then really up date the infra structure for storing and sending energy. Cornwall has the potential to be independent of all energy providers AND become an energy exporter. Have a look at cornwallgov.uk. egs for the 38 page document out lining the ideology for the fifty year plan to engender environmental growth strategy, ideas for any aspects of this , at all levels are being sought.

    Liked by 1 person

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