Reinventing the Economy

Economy. "A. powerfu,. indictment. of. New. Right. policies." Professor Masato Oka, Yokohama City University 7766 N 1-897766-17- 781897 HE PROGRAMME OF THE NEW RIGHT HAS FAILiD. Once successful economies are now in recession because o' ...

Reinventing the Economy

Author: David Alan Simmons

Publisher: Jon Carpenter Publishing

ISBN:

Page: 259

View: 522

Thatcherism and its policy successors in Britain, along with their ideological compatriots in other countries, set out to make ninety per cent of the population worse off, and to deprive them of job security. These measures, taken in the name of making the economy more competitive, have in fact only served to re-allocate wealth from the lower and middle income groups to the already wealthy. While other writers have set out to demonstrate the failure of the New Right, Simmons goes further: he shows that since the Keynesian consensus did not fail, but was merely replaced by politicians with different priorities, there is an alternative. This can be found in the nature of government itself in a liberal democracy, in the consensus that already exists among voters, and in the example of those countries where different strategies are in place and working successfully. Liberal democracy, be definition, is concerned with the welfare of all. And among the population at large, there is a clear consensus in favour of established left-of-centre policies: the welfare state, government intervention in the economy, Keynesian demand management and so on. The consensus is within the range of traditional Labour policies, and the Labour Party (or any party offering an alternative to the New Right) should take this on board.

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