The Economist would say that, wouldn’t it?

Economist_election_coverRegular readers will know that I recently ended my long-standing subscription to the New Statesman on the grounds of poor writing, bigotry (relating to transgender discrimination) and all-round listnessness and lack of progressiveness. I have maintained my subscription to the Economist on the grounds that one needs to know what the enemy is thinking. Its endorsement of David Cameron and the Conservatives for the election on Thursday 7 May (left) justifies this decision.

Here are some of the arguments presented in favour of a Conservative-led government after 7 May with some easy responses:

1. The Economist says: reducing the deficit is the priority. At 5 per cent of GDP that has to be reduced and public sector cuts are necessary in order to achieve it.

Strassenbahn13 says: the deficit is not the issue. It is a finance question, not an economics question. The economics question says, is the deficit manageable? What economic policies are necessary to ensure growth such that social utility can be maximised across all constituencies? If the deficit is the priority, economics goes out of the window. We have austerity for the sake of it, or to meet the neo-conservative objective of the limited state; that is limited public provision of services ranging from the NHS (ongoing privatisation) and housing (forcing housing associations to sell their assets) to public transport and street cleaning. The deficit does not make us poor. An under-productive, non-inclusive economy that does not make tangible and socially useful products makes us poor. That is the one the Conservatives are promoting.

2. The Economist says: the Conservative’s record in public services is good. People are more satisfied with services such as the NHS than they were before the cuts from the first term in government.

Strassenbahn13 says: essentially, the Conservatives argue that we can have cuts to services without quality being affected, or at least the sense that the quality is diminishing. This is nonsense. The good ratings have been achieved by proud and loyal public-service workers working harder. I am one. I see it every day. The tipping point will come. Just look at Accident and Emergency in hospitals.

3. The Economist says: the UK has a higher proportion of people in work than ‘ever before’.

Strassenbahn13 says: whatever is meant by ‘ever before’, the economy is dependent on low-paid immigrants, zero-hours and temporary employment contracts, insecurity and exploitation.

Here are the arguments against a Labour-led Government made by the Economist with some even easier responses:

1. The Economist says: It is harder to believe Labour will be successful with the deficit. The numbers are ‘vaguer’.

Strassenbahn13 says: As noted above, the deficit is a red-herring. But vaguer than the Tories £8bn savings from some undisclosed source proposed by the Conservatives?

2. The Economist says: tax the entrepreneurs and wealth creators and they will go somewhere else.

Strassenbahn13 says: is that the best argument there is? There is no evidence of this because people come to London in particular not because of the tax rates, rather it is a modern, liberal, tolerant, multi-cultural and global city. Some of them, I would very much welcome to leave. But often their threats are empty. I’m still waiting for that great entrepreneur Paul Daniels to leave after Blair claimed power.

3. The Economist says: Labour believes that living standards are being squeezed because markets are rigged and that the Government can fix them. Markets such as energy (dominated by six big oligopolistic players); zero-hour contracts and housing (private-sector landlords in the ownership of a basic of life and in limited supply).

Strassenbahn13 says: Miliband might just be right by this. Markets are rigged. They are imperfect. They work for some, but most of us are usually fleeced. Regulation is inadequate. And that deficit is caused by market failure, not public-sector workers. Where the Economist wants more markets – particularly in the NHS – most of us want fairness.

4. The Economist says: Labour would have to be in coalition with the Scottish Nationalist Party (SNP) ‘which leans strongly to the left’. This leads to ‘the certainty of economic damage’ arising from a Labour-led government.

Strassenbahn13 says: I would have thought the certainty was on a future Conservative-led government. Their economics are hugely damaging and the social unrest that these policies may unleash is real. And with less money for the police, that is going to be yet another management challenge (though, presumably, that is why Boris Johnson has bought the water cannon for London?). Actually, a coalition with the SNP seems like a very exciting and progressive option.

For all politicians and commentators – where is climate change?

There’s more, Cameron will push for the legalisation of fox hunting. If ever there was an indicator of a de-civilising policy, that is it. How we treat animals matters in itself. But to openly advocate cruelty to animals as an election promise is positively sickening, if not sick.

And let us not forget that the Conservatives are pathological liars. They have published two ‘independently written’ letters from business people endorsing the Conservatives to have been shown to be dishonest. And then Grant Shapps lying about his business interests and having an unusual relationship with  his own Wikipedia page. What can one say about him, other than he is the Co-chair of the party?

Oh, and, the Conservatives cut the budget for helping refugees crossing the deadly Mediterranean Sea. They have this and other blood on their hands.

I could go on.

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1 comment so far

  1. […] years ago I critiqued the Economist’s advocacy of the Conservative Party to form the next UK Government under David Cameron. The magazine, in my […]


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