Keir Starmer’s reason for killing Green Prosperity Plan: economic illiteracy

It was bad enough that Keir Starmer decided to ditch his party’s last policy that divided it from the Tories; now we learn that he’s justifying it with the worst piece of economic illiteracy of the last few decades.

Here’s Another Angry Voice:

Apparently Labour can’t now afford to invest for the future because the Tory government has said it is going to “max out the national credit card”.

If this sounds wearisomely familiar, it’s because it is. The “maxed out national credit card” trope was one of David Cameron and George Osborne’s favourite propaganda lines when they were trying to convince the country that “let’s cut our way to prosperity” austerity ruination was a wise economic strategy, rather than the macroeconomically illiterate road to ruin it’s proven to be.

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Anyone with a shred of economic knowledge understands that comparisons between national economies and household family budgets are profoundly misleading, and that they’re especially egregious when public borrowing is portrayed as akin to a reckless credit card splurge.

Unless you have a money printing press in your house, your household budget is almost entirely unlike a national economy, and public borrowing (the cheapest possible form of borrowing) is extremely unlike credit card borrowing (the most expensive aside from payday loan exploitation).

Thus anyone making such comparisons is either an economic illiterate who doesn’t have the faintest idea how national economies actually work, or they’re wilfully spreading economically illiterate tropes in order dupe people they believe to be gullible.

Apparently Starmer and the right-wing ghouls he’s surrounded himself with believe we can solve Britain’s economic malaise with the same ruinous “cut our way to prosperity” policies and by spreading exactly the same asinine economic illiteracy as the people who actually caused it!

You’d have to fit Einstein’s definition of insanity to believe that we’ll end up with different results by trying the same thing again, down to the exact same propaganda lines used to justify it.

Once again we learn that the way forward for the UK is neither a Conservative nor a Labour government.

Source: Why is Keir Starmer spreading economic illiteracy?

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1 thought on “Keir Starmer’s reason for killing Green Prosperity Plan: economic illiteracy

  1. Tony

    So why did the Conservatives promise to match Labour’s spending plans?
    At the time, Labour could have pointed this out but preferred to plead guilty instead.

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