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Hey, Cameron...

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Corbyn reveals big names in new Economic Advisory Committee | LabourList

Famous economists Thomas Piketty, David Blanchflower and Ann Pettifor are among the names to have joined Labour’s Economic Advisory Committee, the party have today revealed.

The group will be convened by Shadow Chancellor John McDonnell and will report to leader Jeremy Corbyn. They will meet four times a year to discuss ideas to be fed into Labour’s official economic strategy. The committee will be made up of:

· Mariana Mazzucato, Professor, University of Sussex

· Joseph Stiglitz, Professor, Columbia University, recipient of the 2001 Nobel Memorial Prize in economics.

· Thomas Piketty, Professor, Paris School of Economics

· Anastasia Nesvetailova, Professor, City University London

· Danny Blanchflower, Bruce V, Rauner Professor of Economics Dartmouth and Stirling, Ex-member of the MPC

· Ann Pettifor, Director of Policy Research in Macroeconomics (PRIME), and an Honorary Research Fellow at the Political Economy Research Centre of City University
 
Some huge names there, particularly Stiglitz. They are all Keynesians/post-Keynesians though, aren't they?
 
It seems to me that what is being attempted and/or suggested is a sort of Podemos in reverse. A political party decentralising power to assemblies rather than assemblies forming a political party.

Some questions that occur to me about the idea...

1) Will this actually amount to anything in the end or is it just window dressing?
2) How will Labour get people outside of the Labour Left and wider left to participate? That imo is absolutely crucial to their success, and the wider success of the project.
3) Has this strategy, Podemos in reverse or whatever you want to call it, ever been tried before?


the liberal left main issues are refugees(at present, they will move on), Trident, Fracking, UK action on Syria(against)

these are not the priorities of the wider public, whatever their merits.
 
Labour’s left gets organised and creates brand-new socialist youth group

By Staff Reporter

A busy meeting entitled ‘Relaunching the young Labour left’ resolved yesterday to create Labour Young Socialists – a new organisation aimed at capturing and organising the spirit that motivated thousands of young people to support Jeremy Corbyn’s successful leadership bid.

The meeting, held at a lecture theatre in Euston, debated the aims and principles of the new organisation. It agreed upon being avowedly socialist, voting to approve a founding document that reads ‘We want to see capitalism replaced by socialism: a society whose guiding principle is no longer profit, but solidarity; where common ownership and democracy guarantee a good life for all.’ However, it rejected a return to the past, voting down a proposal to commit to the reintroduction of Clause Four of the 1918 Labour constitution (which was abolished by Tony Blair in a move seen as symbolic of Labour’s rightward drift.)

‘Labour Party Young Socialists’ was the name of a former Labour youth organisation until 1993, when it dissolved after having spent several years being dismantled by Labour’s bureaucracy due to its radical left-wing tendencies.

Labour's left gets organised and creates brand-new socialist youth group



Meanwhile, as time goes backwards, Labour Party Young Socialists are reformed.

sort of, they rejected bringing back clause 4, but support open borders.
 
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About us

The Shadow Cabinet


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Nathan Akehurst
is a writer, communications adviser, history and politics graduate, socialist and usually found near either coffee or whiskey. He can be found @nathanakehurst


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Grace Blakeley
is a researcher at a Westminster thinktank and a PPE graduate with an MA in African Studies. She therefore would dearly love to be the left’s Malcolm Tucker and can be found @graceblakeley


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Amy Dunne
is a blogger, campaigner and history graduate who volunteered in the Corbyn campaign’s London office. She can be found @dunne_notdunn


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Frances Leach
is a Mancunian feminist and International Politics and Spanish student, involved in North West Young Labour. She is currently on a quest to make politics sexy and accessible to all, and can be found so doing @francesleach_


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Chiara Giovanni
reads Modern Languages at Oxford. Likes: intersectional feminism, Instagram, beauty blogging and semi colons. Dislikes: rain, austerity, the Murdoch empire and racism. Can be found @carambalache


Peter Hill is a graduate student and researcher on Arabic literature at Oxford University, a Corbyn campaign volunteer, and a writer and editor for the Oxford Left Review.


The New Left? , wonder how long they will take to do an Owen Jones.
 
Some huge names there, particularly Stiglitz. They are all Keynesians/post-Keynesians though, aren't they?
That's their base starting point, but there's a common theme between them about rejection of the basis for neoliberalism, austerity, and particular about the negative economic consequences of rising inequality, low pay levels, and the increasing concentration of wealth to the already very wealthy.

Basically it's a list containing several very respected maverick economsts who've not been afraid to take public stands against the consensus in the past, have produced detailed statistical work themselves analysing various aspects of the current economic situation and formulated policy positions from that basis that go against the existing long held consensus.

They're not marxists, but their economic policies if enacted would result in huge improvements in living conditions for those at the bottom of the pile, rising wage levels, higher top level taxation and redistribution of wealth from the top, significantly decreased inequality (and decreasing inequality being seen as a major target of the economic policies), and hopefully an end to (at least a reduction in) the boom and bust cycles of neoliberalist economics.

At least that's true of the 3 on that list I'm aware.
 
It's also a clever move politically (as long as they take the advice of the committee) as it means that for Osbourne to attack their economic policies, he'll be attacking the economic policies developed and approved by a committee of world renowned economists, including a nobel prize winner, and probably the most popularly read economist of the last few years.

and he has a history degree, coupled with fuck all relevant experience prior to becoming chancellor.

Also interesting that the group doesn't include Richard Murphy, who'd been touting himself for the last few weeks as being the author of corbynomics / reckoned they'd borrowed much of their policies from his work.
 
Making her first political appearance since returning from maternity leave, Reeves said “we will be back” and should go on the doorstep to say the leadership does not represent the party. Richard Angell, the Progress director, got the biggest cheer of the meeting by saying: “We need to rally against the Trots”.
Interesting position from Reeves, there. The party somehow managed to elect a leadership that does not represent them.

Hmmm...gnomic.
 
Interesting position from Reeves, there. The party somehow managed to elect a leadership that does not represent them.

Hmmm...gnomic.
tbf that's the message most of the labour party were giving round here last election, except in the opposite direction.
 
tbf that's the message most of the labour party were giving round here last election, except in the opposite direction.
Rather different electoral constituency, though. It's a bit of stretch for Reeves to say, following what has just happened, that Corbyn does not represent the party. Certainly not the PLP, but she said party.
 
Rather different electoral constituency, though. It's a bit of stretch for Reeves to say, following what has just happened, that Corbyn does not represent the party. Certainly not the PLP, but she said party.
ah, but to her and her ilk the PLP are the party, the membership are merely the plebs who're there to get the leaflets distributed to maintain the PLP in their rightful positions.
 
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