Corbynomics

[mushroom25]

much in the press this week about Jeremy Corbyn's economic plans (just google "corbynomics" for all sorts of links. There seem to be 2 camps; those that say they can't understand why JC's approach has never been tried, and those that claim it would be a surefire disaster.

For instance, "people's quantitative easing". JC says allowing the bank of england to print money will unlock potential for labour productivity, stimulate infrastructure creation and ease the current wages crisis experienced by many. on the other hand, labour's shadow chancellor says printing money just results in higher inflation, higher debt servicing cost and a high interest rate which would have to be paid for by the least able to cope with it.

i don't understand all the ins and outs. would corbynomics work for everyone and create a fiscal utopia? or would it be a slippery slope to the emulation of the greek economy for the uk?

[Mick-the-Miller]

I wholeheartedly support Jeremy Corbyn for Labour leader - it would make the Labour Party totally unelectable, cause even more internal strife within the Party, bring about a split within the Party which could lead to eventual splintering and total break-up - more power to his elbow!

[bazwillrun]

"cause even more internal strife within the Party"
is that possible !

corbyn is a dinosaur that somehow seems to have survived the mass extinction , he lives in a utopian fantasy world that hasnt and never will exist...

[Ric.ror]

When I watched Channel 4 news last night and saw all the young people supporting him I could only think of the ice bucket challenge - last summers fad

[youngmafbog]

Quantative easing is used and works if done in tight boundaries, as with anything you can have too much of a good thing. Doing it on the scale he suggests is clearly foolhardy to anyone without left wing rose tinted spectacles (and I think some of those are even surprised at his suggestions).
I do think the Government could be doing more though. Building infrastructure is a sound investment, so long as it is controlled, but the Government just dont seem interested in, say house building or prison building which I think would go down very well with the majority. It's not as if it has to be all public money after all.

[bazwillrun]

"The day after Corbyn wins....
Silence...and a growing feeling of 'what have we done'.
But wait...can you hear it?
There...
The sound of tory laughter and chinking glasses."

[sevenOP]

mushroom25, Corbyn may have something like this envisaged

http://positivemoney.org/2014/06/waste-375-billion-failure-quantitative-easing-video/

Any form of 'utopia' involving humans is extremely unlikely and I see no sign of Corbyn suggesting this.

Maybe youngmafbog would educate us as to where Quantitative Easing has ever worked, where is the £375 billion the UK govt spent on it, and what exactly was it spent on ?