Evolve Labour's current economic narrative into an engaging & transformative story

Posted on 07-12-18 by Munhaj Number of votes: 0 | Number of comments: 6

At the height of the post-war 'social democratic' decades of the 1950s to the 1960s neo-liberal writers like Hayek began investigating ways to transform their economic analysis into an engaging story to convert the public to their ideological programme so when the economic crises of the 1970s occured these ideological economists had an answer ready which the public was receptive to. Unfortunately since 2008 those in Labour who didn't buy into neo-liberalism were unable to convince the public that another answer besides neoliberalism is a better alternative and 10 years Labour still hasn't developed this narrative.

 

To address this issue (which is inspired by a article written by professor Kate Raworth - see below link) I make the following policy proposals which would help evolve Labour's current economic narrative into a engaging transformative story:

 

http://evonomics.com/seven-ways-transform-21st-century-economics-economists/

 

1) Highlight (e.g. social media, the doorstep, the local press of marginal parliamentary seats) that Labour recognises the power of the market but that Labour aims to better socially embed the currently destructive power (through the macroeconomic forces it unleashes?) of the market that destroys communities into a constructive power that empowers local communities, local economies & local governments by giving the market a 'localist social democratic character 2.0 for a mass-roboticised economy' that's both enviromentally sustainable & locally based.

 

2) Highlight (e.g. social media, the doorstep, the local press of marginal parliamentary seats) that Labour's aims to create a partnership between local communities with both their local government & the central state by not only increasing greater democratic accountability but also greater voter participation in economic affairs through schemes like 'participatory budgeting' as well as via compulsory citizen consultation through 'local manifestos', 'local versions of an industrial strategy' and 'local infrastructure projects'.

 

3) Highlight (e.g. social media, the doorstep, the local press of marginal parliamentary seats) that the'household' is the third important contributory pillar in the UK economy after the state & corporations as well as the fact that Labour will investigate how the 'household' as an economic unit (which all citizens are a member of) can have it's contribution recognised & valued in Labour's economic policies (e.g. taxation & in reviving the high street).

 

4) Highlight (e.g. social media, the doorstep, the local press of marginal parliamentary seats) that the idea of the 'Commons', as envisaged by George Monbiot, & Georgism (see link below) can play a role in creating a 'localist social democratic' economy.

 

https://en.wikipedia.org/wiki/Georgism

 

5) Highlight (e.g. social media, the doorstep, the local press of marginal parliamentary seats) that Labour's economic modeling will be superior to the current neo-liberal model because it recognises that human's aren't "rational economic actors" only interested in their individual interests but 'socially adapted actors' who interested in the 'group interests' (e.g. how clean their local water & air is for their entire community not just for themselves) of their local community.

 

6) Highlight (e.g. social media, the doorstep, the local press of marginal parliamentary seats) that Labour will evolve traditional modes of 'economic redistributionism' to a economic model that is engineered around 'pre-distributing wealth' & an economy that is circular both environmentally & socially.

 

7) Highlight (e.g. social media, the doorstep, the local press of marginal parliamentary seats) moral economic arguments to drive home the points raised in 1-6.

 

8) Investigate how the policy proposals made from 1-7 can be harmonised & intergrated with Labour's current economic policies.

Referring to: Economy, Business and Trade

The Economy, Business and Trade Policy Commission develops Labour's economic and business policy, including industrial strategy and international trade.

Latest comments Post a comment

Got something to say? Please leave your comments here about the content on this page.

Content of comments is the responsibility of the poster, and their appearance on this website does not imply endorsement by the Labour Party.

    Labour party member MP Shadow Cabinet Member
    NPF Rep MEP NPF rep has replied
    Councillor Peer Labour Guest