It is Wednesday and I am reverting to my plan to keep my blog posts short on this day to give me more time for other things. Today, I will briefly outline what happened last Thursday when I met with Shadow British Chancellor John McDonnell in London. As I noted yesterday, I was not going to comment publicly on this meeting. I have a lot of meetings and interactions with people in ‘high’ office which remain private due to the topics discussed etc. But given that John McDonnell told an audience in London later that evening that he had met with me and that I thought the proposed fiscal rule that Labour has adopted was “fine”, I thought it only reasonable that I disclose what happened at that meeting. I did not think the rule was fine and I urged them to scrap it and stop using neoliberal constructs....Bill Mitchell – billy blog
A summary of my meeting with John McDonnell in London
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
4 comments:
“rather than whether recurrent spending was matched over a rolling five-year period to revenue.”
Classic “deficit dove” position result from a dialectical synthesis....
Best you can ever hope for under that methodology sorry.... have to accept it and move on ....will be the best deal you’re going to get...
It's an up hill struggle. Those that could benefit the most still won't believe.
John McDonnell badly needs to sign up for Neoliberal Economics Detoxification treatment now if a possible future Labour government is going to do anything but tread water during office! Such a waste of opportunity signing up for such non-empirical "deficit dove" dogma!
“non-empirical "deficit dove" dogma!”
ALL sides in this have been trained to operate in that way... no one involved ever trained in empiricism so they are doomed to keep making the same mistakes and never make the needed adjustment...
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