Britain Can’t Afford Rachel Reeves

The first of seven posts which break down how modern economics – not just neoliberal – is disconnected from reality, more of a religion than a science, yet forms the basis for most mainstream political-economic thought and practice. This, alongside Keen’s articulation of economists’ denial of the role of energy, exposes severe flaws in how politicians understand our world today. “If you’ve uncritically accepted what you’ve been taught in economics textbooks about how money is created, you have been misled. That is the situation for Reeves, and it’s why she’s doing bad things with the best of intentions… her policies will backfire, and actually reduce rather than increase economic growth.” (Or is Reeves a degrowther in disguise?)