Owen Jones Talks to Rebecca Long-Bailey: Neoliberalism Has Fallen Apart

In this video, Owen Jones, the author of Chavs: The Demonisation of the Working Class and The Establishment, talks to Rebecca Long-Bailey, one of the people responsible for the Labour manifesto and close ally of Jeremy Corbyn. He states that she has been pretty central to the whole Corbyn project. And he particularly likes her because she’s a ‘scamp’ from Manchester like him.

He begins by stating that Clement Attlee established the post-War consensus of a strong welfare state, state intervention in industry and labour and trade union rights. This fell apart under Margaret Thatcher. He asks her if Thatcher’s neoliberalism is now falling apart in its turn.

She replies very positively that it definitely is, and that more orthodox economists are stating that we need a Keynsian approach to the economy. She says that when they began promoting Keynsianism, they were attacked as very much out of touch. Now the Financial Times and another major economic journal has come out and supported state interventionism. The FT even said that we need to renationalise water. This left her absolutely speechless with surprise when she read it, as it was a Labour idea.

She was the Shadow Minister in charge of business and industrial strategy. Jones notes that the hostile press would immediately attack Labour’s policies as destructive and compare them to Venezuela. He asks how she responds to that. She replies with a very clear answer: ‘Rubbish’. She points out that, under neoliberalism, Britain has become one of the least productive nations in the developed world. Indeed, productivity is at its lowest for 20 years. And thanks to wage restraint, wages are also lower than they were before the Crash of 2008.

She states we need an investment bank for England to encourage investment, as private industry won’t invest unless government does so. She also states that we need to reform industry so that it represents everyone involved in a firm, including workers and stakeholders. When Jones asks her what she considers socialism to be, she simply responds ‘Fairness’, and talks about giving employees rights at work, protecting their jobs. She also makes it clear that she believes it is very important to show people that voting Labour will make a difference to their lives. She wants to show people in the north that Labour will tackle homelessness, not just by building more homes, but by building more social housing, so that people, who can’t afford a house will get one. It will be a radical transformation of society, just like it was in the 1940s.

She also talks about how difficult it is being an MP. As a Member of Parliament, you just want to talk about your policies and the issues, but you have to be aware that every time you give an interview, the media are trying to lead you into a trap by getting you to say the wrong thing, or criticise a Labour colleague.

Long-Bailey clearly has a deep grasp not only of the abstract economic issues involved, but also of the personal dimension as people are driven in debt, misery and despair through neoliberalism’s destruction of the British economy for the enrichment of the small number of extremely rich and privileged. And she is inspired by the same ideas as those of Clement Attlee and the great labour politicians, who forged the post-War consensus and gave Britain it’s longest period of economic growth, as well as expanding opportunities for ordinary working women and men.

And it can only be brilliant that the FT, that great pillar of financial capitalism, has come on board to support a return to Keynsianism.

As for the pet Thatcherite policies of Monetarism and neoliberalism, Robin Ramsay has spoken of Monetarism that when he studied economics in the late 60s and ’70s, it was considered such as a nutty idea that his professors didn’t bother to argue against it. He has suggested that it’s possible the Tories, who embraced it also knew it to be a load of rubbish. But they adopted it because it provided an ideological justification for what they wanted to do anyway: privatise industry and smash the organised working class.

Now Thatcherite neoliberalism is falling apart very obviously, and the elite are panicking. Hence the non-story about Clive Lewis and his supposed ‘misogyny’, which is a complete non-story. It’s being used by the Tories to try to distract people from their continuing failures over Brexit, the privatisation of the health and education services. And, of course, the sheer mass of seething misogyny and racism in their own party.

Advertisements

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , ,

2 Responses to “Owen Jones Talks to Rebecca Long-Bailey: Neoliberalism Has Fallen Apart”

  1. sdbast Says:

    Reblogged this on sdbast.

  2. “Owen Jones talks to Rebecca Long-Bailey: neoliberalism has fallen apart” | Beastrabban’s Weblog | BOYCIE'S BLOGS: REINFORCING THE UK'S NEED FOR AN ANTI-TORY/DUP REVOLUTION Says:

    […] https://beastrabban.wordpress.com/2017/10/23/owen-jones-talks-to-rebecca-long-bailey-neoliberalism-h… […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.


%d bloggers like this: