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Economy class: finding a narrative

Labour should be ashamed of some of the mistakes it made. Its next leader needs a lesson in economics for dummies: here it is

By Tim Leunig   October 2010

Without a coherent narrative on the economy, Labour’s new leader has no chance of returning the party to power. This, rather than Britain’s place in the world, reform of the NHS, or rethinking immigration, has to be at the core of the next Labour project. We live in an era during which economic inequalities in income and wealth have increased tremendously. The original “new left” view of the economy, first fashioned by Clintonistas such as Robert Reich, argued that we could all benefit from globalisation—provided we improved education so we could all earn our keep. It is fashionable to claim…

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