Sunday 23 August 2015

Actually Mainstream Economics

Here, while we wait in vain for so much as one economist to endorse any other candidate, never mind to endorse the other side:

The accusation is widely made that Jeremy Corbyn and his supporters have moved to the extreme left on economic policy. But this is not supported by the candidate’s statements or policies.

His opposition to austerity is actually mainstream economics, even backed by the conservative IMF. He aims to boost growth and prosperity. He voted against the shameful £12bn in cuts in the welfare bill.

Despite the barrage of media coverage to the contrary, it is the current government’s policy and its objectives which are extreme.

The attempt to produce a balanced public sector budget primarily through cuts to spending failed in the previous parliament. Increasing child poverty and cutting support for the most vulnerable is unjustifiable.

Cutting government investment in the name of prudence is wrong because it prevents growth, innovation and productivity increases, which are all much needed by our economy, and so over time increases the debt due to lower tax receipts.

We the undersigned are not all supporters of Jeremy Corbyn. But we hope to clarify just where the “extremism” lies in the current economic debate.

Yours,

David Blanchflower, Bruce V, Rauner Professor of Economics Dartmouth and Stirling, Ex-member of the MPC 
Mariana Mazzucato, Professor, Sussex 
Grazia Ietto-Gillies, Emeritus Professor, London South Bank University 
Malcolm Walker, Emeritus Professor, Leeds 
Robert Wade, Professor, LSE 
Michael Burke, economist 
Steve Keen, Professor, Kingston 
Victoria Chick, emeritus professor, UCL 
Anna Coote, NEF personal capacity 
Ozlem Onaran, Professor, Greenwich 
Andrew Cumbers, Professor, Glasgow 
Tina Roberts, economist 
Dr Suzanne J. Konzelmann, Birkbeck, 
Tanweer Ali, lecturer, New York 
John Weeks, Professor, SOAS 
Marco Veronese Passarella, lecturer, Leeds 
Dr Judith Heyer, Emeritus Fellow, Somerville College, Oxford 
Dr Jerome De-Henau, Senior Lecturer, Open University
Stefano Lucarelli, Professor, Bergamo 
Paul Hudson, Formerly Universität Wissemburg-Halle
Mario Seccareccia, Professor, Ottawa
Dr Pritam Singh, Professor, Oxford Brookes
Arturo Hermann, Senior research fellow at Istat, Rome 
Dr John Roberts, Brunel 
Cyrus Bina, Professor, Minnesota 
Alan Freeman, retired former economist 
George Irvin, Professor, SOAS 
Susan Pashkoff, economist 
Radhika Desai, Professor, Manitoba 
Diego Sánchez-Ancochea. Associate Professor, Oxford 
Guglielmo Forges Davanzati, Associate Professor, Salento 
Jeanette Findlay, Senior Lecturer, Glasgow 
Raphael Kaplinsky, Emeritus Professor, Open University 
John Ross, Socialist Economic Bulletin
Steven Hail, Adjunct Lecturer, Adelaide
Louis-Philippe Rochon, Associate Professor, Laurentian
Hilary Wainwright, editor, Red Pepper
Arturo Hermann, senior researcher, ISAE, Rome
Joshua Ryan-Collins, NEF personal capacity
James Medway, lecturer, City University
Alberto Paloni, professor, Glasgow
Dr Mary Roberton, Leeds

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