More from Meadway

More from Meadway

I went to one of the local labour political education workshops at which James Meadway was speaking. Odd, since I had been reading of his views, in particular with respect to his contention with MMT; I wrote them up on this blog. but it was good to hear him in person.

I have written about MMT and its contention with the Labour front bench a couple of times and summarised my understanding of the MMT position on International Trade. A couple of years ago I wrote on their views on Monetary vs. Fiscal policy, this latter article also summarises and links to articles critical of MMT.

Meadway emphasised two things, “Not all Currencies are equal”, the dollar is still the international trade denominator. The second point is that making debt default the policy tool to deal with private sector foreign exchange debt is not wise as the biggest FX debt holders are probably HSBC and Barclays. While the UK public sector FX debt is tiny, this private sector debt is not and it’s questionable if we could bail the banks out a second time which since the ring fencing of retail and investment banks is mired in the swamp would jeopardise the people’s savings.

He also emphasised the importance of ownership, investment and universal services as socialist agenda items and thus the creation of an irreversible shift in power; not so sure my memories of Thatcher selling off the Mutuals is evidence that this will work but it will be a powerful manifesto. …

Brexit and Labour’s 2017 Manifesto II

In my article “Brexit and Labour’s 2017 manifesto“, and on my wiki article, “Stability & Growth Pact”, I talk about the reasons supporters of Labour’s 2017 manifesto might believe that they need to leave the EU to run fiscal deficits, nationalise critical businesses and offer state aid. I had come to the conclusion that our current terms of membership allowed the UK to pursue whatever macro-economic policies it chose and to be able to pursue its nationalisations. There would seem to be some questions on state aid and some people have raised the issue of the Railway Directive and its possible impact on the single market and nationalisation. A campaigning comrade of mine, from Southampton Itchen CLP has researched these issues and produced the following report, overleaf,  which he also published on Facebook wall.

He concludes, the notion that all EU activity is driven solely by Neo-Liberal ideology is in my opinion a mistaken assumption. In many instances there are additional rationales underpinning the EU rules that go beyond mere market obsession. The EU has pressed for more open networks in telecoms and energy but open access across national energy networks is critical for renewable energy production being made viable on a grand scale. Whereas in the water sector, where it is not feasible to create overlaying pan-European services, the EU has never shown any interest in legislating for open networks.

I would not go so far as to suggest the EU does not have an over optimistic view of the market system or tend to assumptions about private sector performance vs public sector that are not sustained by the economic models relied upon and it is possible to have a good discussion about Ricardo’s theory of comparative advantage.

On the other hand, free market supremacy is a pretty widespread assumption in the modern western world. The victory of the Neo-Liberal ideology has been to shift public perceptions to accept the ‘private good, pubic bad’ mantra as a gospel truth. That human beings in the EU broadly accept the same mantra is not really a surprise. The challenge to us as socialists is not just to reshape the UK economy to provide for greater equality and justice but to begin to reshape the underlying assumptions about human and market behaviour that underpin much of the capitalist economic system. …

Labour Party, making policy

My submission to Labours Democracy Review on making policy.

CLPs should have an inalienable right to initiate policy, as such CLPs should be allowed to submit motions to Conference on policy as they see fit (i.e. not be constrained by the NPF report and processes).

NEC should publish their minutes so that members know what they are doing.

Appropriate CLP motions should be presented to the NEC and their actions recorded, minutes taken and reported to the authoring CLP.

CLPs should be able to submit a motion + rule change to Conference during the same year and CLP/Affiliate proposed rule changes to conference to should be allowed to be debated at the Conference for which it was proposed.

The NPF to be halved in size, meet more regularly, report to conference, and conference to be extended by a day. This is designed to increase the NPF’s accountability to Conference and provide some form of governance over continuous policy making; Conference should remain sovereign. NPF should be commissioning hearings led by a combination of grassroots activists and members and workers/trade unionists with expertise in specific areas. NPF should function in a more transparent way. This transparency to include its web site.

Conference should be a day longer, it would allow the consideration of more topics.

It should be considered to have a first delegate to conference at 500 members, and additional delegates at 750. More money should be sent to the CLPs and/or the Conference delegates should be funded by HQ. (We are debt free you know). [On drawing the graph/chart, I wonder if it would make much difference, it would make it easier, if it could be afforded, to send a gender balanced conference delegation, which is my purpose, but this would only be so for those CLPs with between 500 & 750 members. It should be noted that larger CLPs are not sending their full delegations because of cost. It should be noted that small and remote CLPs are not sending their delegations at all often because of cost. Perhaps elections at conference should be done as postal votes for non-attendees.]

It has been suggested to me that despite my efforts, many of Labour’s new members lack experience of the motion/debate process. More education is required at branch/member level about the motion process (e.g. what motions should incorporate and the change we hope to bring about). …

Brexit and Labour’s 2017 manifesto

Some Lexiters claim that the EU treaties will inhibit a Labour Government if it tried to implement its 2017 manifesto. It is argued that the single market would inhibit industrial policy and the stability and growth pact would inhibit macro-economic policy. I don’t think this is so and have written up my notes on my wiki.

The single market does not inhibit an industrial policy, and the stability and growth pact has no enforcement mechanism for the UK. (Another opt-out which we will lose if we leave and seek to rejoin). 🤔 …

Local Elections

I  usually comment on the elections I campaign in. The Lewisham results are in, or at least called by the BBC, we have a new Labour Mayor, Damien Egan, and every single councillor is also Labour. Now we need to learn how to listen beyond the Party, and how to scrutinise ourselves. It’s an honour and a responsibility. I hope we live up to it.

I campaigned in Deptford, Mottingham (Bromley) and Bromley North, which surprised me by being in Tower Hamlets. The Labour vote has gone up in London. I found little interest in politics, it’s become very tribal. The only exception is the issue of Housing. We’ve done well in Deptford, missed by 21 votes in Mottingham and I am still waiting for the Bromley North results. …

Manifesto bingo, digital liberty and the internet

Manifesto bingo, digital liberty and the internet

I have had a look  at the manifestos and see what they have to say on the internet and Digital Liberty. I have been very influenced by the EDRi voting exchange and summarise the issues of Digital Liberty as e-citizenship, equality before the law, privacy and copyright reform, to which for this election we must add internet governance and industrial & innovation policy. I have created a table summarising the positions of the Tories, Labour, LibDems and Greens. Possibly I should have analysed the SNP manifesto since much of this is Westmister reserved powers. I was hoping to write something easy and quick to read. I don’t think I have succeeded. My super summary is in the figure immediately below, and here is the table I built to help me write this article. (I lost the excel file, so this will have to do!)  My main source was the ORG pages but I have been reading the Labour Manifesto also. I feel that the opposition parties have suffered from the surprise; they probably expected more time to develop their promises. All three opposition parties 2015 manifestos covered these issues in more depth.  …

Digital Liberty, a baseline

Digital Liberty, a baseline

I am preparing to write a blog on Digital Liberty and the Parties’ manifesto positions. I was looking to see how I categorised the issues so I could create a summary view and I found the motion that was the basis for my previous submission on policy. This text has been recovered from a Labour Party motion carried at the Lewisham Deptford GC at their April ’14 meeting. I used it as the basis for a submission to the LP’s New Britain site which they have, of course shit canned; it was their policy development site. I think the motion stands the test of time.  …