In the aftermath, of Ed Miliband’s conference speech, I came across two important articles published on the Touchstone and IPPR blog sites. Responsible Capitalism Takes Shape by Duncan Wheldon, and On left populism and Labour’s conference by Nick Pearce. It was Wheldon’s article that caught my eye first but both he and Pearce suggest there is a tension in the Labour Party between those who believe that British Capitalism no longer serves the interests of the majority; that what’s good for business is no longer good for people and the ‘simple keynesians’ who follow the old New Labour policies of using macroeconomic policy and demand management to encourage private sector growth. Pearce argues that Miliband believes that it’s broken and needs rebuilding, he’s on record as saying he thinks the 2015 election will be as transformative as that in 1979 and as he put it in the conference speech in speaking about the fact that capitalism seems no longer to let people afford a decent life, …
Beyond simple keynesianism
