Emily Thornberry can't give an example of a country where Corbynomics worked
On BBC Question Time last night Labour's Shadow Foreign Secretary, Emily Thornberry, was asked to name a country where the economic policies of John McDonnell and Jeremy Corbyn (in context, particularly that of "borrowing billions more") have worked.
She waffled about Labour being a social democratic party - which is all very well but Jeremy Corbyn and John McDonnell are quite open about their policies being something radically new, e.g. not Labour's traditional social democratic approach - and when the audience was shouting at her to answer the question eventially suggested that examples of countries where social democratic policies had worked included Germany and Sweden.
I think those Germans who are familiar with the economic policies of Messrs Corbyn and McDonnell - which is probably not a large group - would be astonished to hear their country described as an example of a country where such policies have been tried.
Given that Germany's last experience with massive borrowing lead first to hyperinflation and then to the takeover of the country by the Nazis, I suspect the number of Germans who would agree that the history of their country is an example of a massive borrowing programme being successful is very small indeed.
She waffled about Labour being a social democratic party - which is all very well but Jeremy Corbyn and John McDonnell are quite open about their policies being something radically new, e.g. not Labour's traditional social democratic approach - and when the audience was shouting at her to answer the question eventially suggested that examples of countries where social democratic policies had worked included Germany and Sweden.
I think those Germans who are familiar with the economic policies of Messrs Corbyn and McDonnell - which is probably not a large group - would be astonished to hear their country described as an example of a country where such policies have been tried.
Given that Germany's last experience with massive borrowing lead first to hyperinflation and then to the takeover of the country by the Nazis, I suspect the number of Germans who would agree that the history of their country is an example of a massive borrowing programme being successful is very small indeed.
Comments
But EVERY single time, Every one, why would it be so different with them and this time.
Socialist ideals to me are a lot like the idea of taking drugs, sure probably good fun to start with, but in the end they will take away everything you ever had. For a recent example then look at Venesuela.
No, because Venezuela is not big enough.
Have socialist policies in Venezuela completely wrecked Venezuela?
Yes.
The fact that I think socialism doesn't work does not mean that I think people should be banned from voting for it in Britain or anywhere else.
It's the present government of Venezuela which is cracking down on dissent and opposition - perhaps that suggests that if the people of the country are allowed "to pursue whatever form of economy they want" they will ditch socialism.