Economic extremism

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Perhaps unsurprisingly given the association that has been made between me and Corbynomics I welcome this letter in today's Observer:

The accusation is widely made that Jeremy Corbyn and his supporters have moved to the extreme left on economic policy. But this is not supported by the candidate’s statements or policies.

His opposition to austerity is actually mainstream economics, even backed by the conservative IMF. He aims to boost growth and prosperity. He voted against the shameful £12bn in cuts in the welfare bill.

Despite the barrage of media coverage to the contrary, it is the current government’s policy and its objectives which are extreme. The attempt to produce a balanced public sector budget primarily through cuts to spending failed in the previous parliament. Increasing child poverty and cutting support for the most vulnerable is unjustifiable. Cutting government investment in the name of prudence is wrong because it prevents growth, innovation and productivity increases, which are all much needed by our economy, and so over time increases the debt due to lower tax receipts.

We the undersigned are not all supporters of Jeremy Corbyn. But we hope to clarify just where the “extremism” lies in the current economic debate.


David Blanchflower
Bruce V Rauner professor of economics, Dartmouth and Stirling, ex-member of the MPC

Mariana Mazzucato
Professor, Sussex

Grazia Ietto-Gillies
Emeritus professor, London South Bank University

Malcolm Walker
Emeritus professor, Leeds

Robert Wade
Professor, LSE

Michael Burke

Steve Keen
Professor, Kingston University London

Victoria Chick
Emeritus professor, UCL

Anna Coote
NEF personal capacity

Ozlem Onaran
Professor, Greenwich

Andrew Cumbers
Professor, Glasgow

Tina Roberts


Dr Suzanne J Konzelmann

Tanweer Ali
Lecturer, New York

John Weeks
Professor, SOAS

Marco Veronese Passarella
Lecturer, University of Leeds

Dr Judith Heyer
Emeritus Fellow, Somerville College, Oxford

Dr Jerome De-Henau
Senior lecturer, Open University

Stefano Lucarelli
Professor, University of Bergamo

Paul Hudson
Formerly Universität Wissemburg-Halle

Mario Seccareccia
Professor, Ottawa

Dr Pritam Singh
Professor, Oxford Brookes

Arturo Hermann
Senior research fellow at Istat, Rome

Dr John Roberts


Cyrus Bina
Professor, Minnesota

Alan Freeman
Retired former economist

George Irvin
Professor, SOAS

Susan Pashkoff

Radhika Desai
Professor, University of Manitoba

Diego Sánchez-Ancochea
Associate professor, University of Oxford

Guglielmo Forges Davanzati
Associate professor, University of Salento

Jeanette Findlay
Senior lecturer, Glasgow

Raphael Kaplinsky
Emeritus professor, Open University

John Ross
Socialist Economic Bulletin

Steven Hail
Adjunct lecturer, University of Adelaide

Louis-Philippe Rochon
Associate professor, Laurentian

Hilary Wainwright
Editor, Red Pepper

Arturo Hermann
Senior researcher, ISAE, Rome

Joshua Ryan-Collins
NEF personal capacity

James Medway
Lecturer, City University

Alberto Paloni
Professor, Glasgow

Dr Mary Roberton