Austerity

It is perhaps not surprising given the power and reach of the Neoliberal uber-rich that in the UK, the EU and USA Austerity has become the orthodoxy.  In the UK it is taking on an extreme form in our political life.  So much so that the neoliberal Tories are regarded by many voters as a centre party. They have been bamboozled by the idea that the finances of a country are best managed like a household budget. Margaret Thatcher famously started the idea but George Osborne and Cameron are the real practitioners. Prof Steve Keen in an interview explains the absurdity of such theories. It is not surprising that his views and similar views of other serious economists are hidden under a blizzard of spin and invective by the powerful uber-rich who stand to lose if austerity is abandoned.

This has resulted in Labour becoming a right of centre party also enamoured of austerity which they dare not refute. That is the case with all their leadership nominees apart from Jeremy Corbyn. He is being taken apart by the neoliberal main stream media, not surprising in view of who owns them, and there is a desperate campaign to stop his bid for the labour Party leadership.

However, there are growing signs of at least some of the electorate realising the fact that they have been hoodwinked. Jeremy Corbyn is the popular candidate of the grassroots of the party, Greece elected a left wing party, Syriza, and there are movements in Spain and Italy.

Prof Steen mentioned the economic policy of the SNP in Scotland as going in the right direction.

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