Unbelievable cod economics being spouted by Truss and Minister Paul Scully. This is boned-up #PostTruthEconomics. Scrap economic orthodoxy, he is saying, and disrupt (what? the economy? society? the woke, whoever they are?) Ah, it’s the EU regulations to be scrapped. 😡
Minister Scully is giving the justification for #TheGrowthPlan on @BBCRadio4 World at One. Mainly spin, clearly a qualification for the job. He’s good, smooth, well-spoken as mum would say. “A different strand of Conservatism” he says. 😂Neoconservatism, I say. Smooth as treacle.
So what are the economics of the half-baked plan enacted in #budget2022 & explained by sloganeering Truss & smooth Scully? Radical policies are necessary to respond to 1) events, eg energy price inflation & 2) the fact that the economic orthodoxy has failed. So far I agree 100%.
So what to do? Scully says: trust people to spend their own money rather than the social democracy approach of a larger govt. I say: the state legally taxes the citizenry. It’s the govt’s money. It’s our social contract for govt to protect & care for us & safeguard our future.
Scully says: you *have* to grow the economy. I say: who is the “you” here? The economy is a complex system, no one is in charge. It’s not a TV on standby that you can press the power button for it to glow.
In the govt’s ignorance, they have unwittingly maddened the markets, which will increase uncertainty and reduce expectations of growth and most likely growth itself. If it’s so easy, why has every previous govt failed to grow the economy to order?
Scully suggests: investment zones, bottom-up planning from local authorities will get enterprise going. I say: maybe; there are huge problems and a radical approach is welcome. But a business free-for-all? Nature, #NetZero, clean air & water, all to be sacrificed for growth?
This is more like a recipe for massive local social conflict if it ever gets off the ground. Neocons taking on the green & the green growth social drives. It goes against the grain of progress. It’s 19thC capitalism run riot, concealed in warm words. #PostTruthEconomics
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