Such as they are, the critics of Jeremy Corbyn and John McDonnell need to produce their Nobel Laureates in Economics.
Corbyn and McDonnell have two, and rank on rank of others of almost comparable distinction.
Old Labour always were the only people who understood Economics.
But now the Great Con Con Trick, of economic competence or even literacy, the trick for which New Labour fell completely, has been well and truly seen through by the electorate at large.
Tony "Stagflation" Barber was the worst Chancellor ever. Geoffrey Howe, Nigel Lawson, Norman Lamont, Osborne is a worthy heir of those clowns. You are right, in fact you did a bit to organise it last year, all the proper economists are behind Corbyn and McDonnell.
ReplyDeleteOh, a very small part, but thank you. And note that no economist, not one, endorsed any other Leadership candidate. Even though (or, rather, because) two of those others had been Chief Secretaries to the Treasury during the New Labour years.
DeleteLike her husband, that Cooper is meant to be a brilliant economist. Not according to brilliant economists, she isn't. The Ballses knew more about economics than anyone else in the room only when no one else in the room knew the first thing about economics.
DeleteNo one in the room with Osborne knows anything about it. Economists won't go near him.
He wouldn't let them, anyway. It is beneath him to ask anyone's advice.
DeleteHis lot are like that because they have been taught from the cradle that they were born to rule. New Labour were like that because they had been told from the cradle that they were the cleverest people in the world. Mind you, the ruling element of Old Labour could also be like that.
Corbyn and McDonnell are the first leading politicians in a very long time to be willing to admit that they did not know everything, and instead to seek out the company and help of people with real expertise.