Labourhome - Back to the roots...

[Blogs] The BNP problem IS Labour's problem

2008-11-20T07:48:19-05:00

I thought it would be interesting to overlay a map of constituencies (and their MP's party affiliation) with a heat-map of the BNP's membership list.*

I don't know if I'm surprised by the result...I am however interested in everyone's thoughts on this.

Original heatmap from Ben Charlton

*There are concerns that it may be a marketing list rather than a wholly accurate membership list.

[Blogs] In praise of financial engineering

2008-11-20T05:00:18-05:00

Calls not to throw out the baby with the bathwater multiply, but beg the question what constitutes the baby and what the bathwater. This is not an obscure philosophical question, but one that, without wanting to sound pretentious, will have significant consequences. Overly simplistic dichotomies rarely help much, except when coming new to a subject, as we all are with the current financial crisis. So it might be useful to present two conflicting views on the baby and the bathwater, which at even more risk of over-simplification I will label financial engineering and economics. The economics paradigm says that for any economic activity the free market is the ideal, and overall society benefits from fierce competition, even though there may be very broad disparities in individual outcomes. From this perspective the baby is competition and rewards to individual effort; the bathwater is over-complicated financial products and regulations that distort the free market outcomes and in the process place unnecessary limits on achievement. Key to making the baby/bathwater distinction are the economists who must design the system, recognising that imperfections do exist in the market, and specify the particular regulations that are necessary.

The financial engineering paradigm on the other hand says that financial products provide a service that individuals and government can choose, much as they do any other good or service. Like any other service there are upsides and downsides, and choosing one product normally means not choosing another. Financial products, like many other products, in certain situations, or used in certain ways, can have significantly adverse impacts on their consumers. So, like products from pharmaceuticals to electricals, financial products are regulated. Responsible financial firms, like responsible firms in any other industry, welcome appropriate regulation and recognise that it is best developed through bodies bringing together industry, consumer and government representatives. From this perspective the baby is continuing innovation in the industry to better serve its customers, the bathwater irresponsible firms that seek primarily to profit from deceit, either of customers or employees, or both, and view responsibility primarily as a barrier to their owners’ and managers’ rewards. The key to making the baby/bathwater distinction is regulation that both allows value-creating innovation and is viable to enforce, with a particular focus on consumer safety.

Financial services are clearly fundamental to contemporary life and rely on a high degree of trust. But then so are the grocery business and the airlines. And they all interact. A loss of trust in airlines would have a significant impact on people, both directly in limiting their mobility, and indirectly though attenuating the capabilities, possibly catastrophically, of many businesses from where they purchase products. More difficult to imagine, but potentially more disruptive and more dangerous would be a loss of trust in groceries.

Over years of seeking to understand how to make the world a better place I have thrown myself into physics, business and politics, and it is clear to me that financial engineering makes more sense. But I am not an economist.

[Blogs] Business backs the Labour stimulus plan...

2008-11-19T13:33:26-05:00

...and criticises David Cameron and co

From the Financial Times:

"Leading UK business organisations on Tuesday opposed David Cameron, opposition Conservative leader, on the best economic response to the recession, backing the prime minister’s assertion that unfunded tax cuts were urgently needed. ...

Business warned that the Tory policy of opposing unfunded tax cuts could lead to large-scale redundancies and corporate failures. The unanimity among the groups leaves the Conservatives fighting against the business consensus – an historically anomalous and politically exposed position.

“Extraordinary times do call for extraordinary measures,” said Miles Templeman, director-general of the Institute of Directors, which on Tuesday called for £20bn of cuts to income and corporation taxes in the PBR. The institute said the UK needed “a short-term fiscal stimulus followed by medium-term fiscal restraint. Tax reductions and infrastructure spending over the 2009-10 period need to be followed by tough control of public spending thereafter.”

[Blogs] Christmas comes early for BNP as St. Nicholas loses his Xmas card list?

2008-11-19T09:08:38-05:00

Oh dear! Just when every thing was going well for St. Nicholas and the little elves down at the BNP grotto. After all winning a seat on a community/parish council is great but having one of your vicars plus the dear old village bobby outed is just not BRITISH is it ? The woman interviewd by the BBC from NASUWT could have a point when she suspects this to be deliberate! Is it wrong to blog these list? Possibly but when St. Nicholas' party are to plead the human rights legislation when crying foul AND at the same time requiring it to be repealed- I think we know the answer. Psst Dont tell any one but --- I have an old expose the Oswald Mosley Union Movement List in the attic (it belonged to my Grandad) willing to swap for any up to date NF, Commie or Respect info.

[Blogs] Statement from United Left North West

2008-11-19T05:27:54-05:00

Saturday the 14th November 2008 the North West Region of Unite the Union formally launched the Unite Broad Left United.
At a well attended meeting of Amicus and TGWU comrades it was unanimously decide to go ahead and form this progressive Left Grouping.

At this meeting we elected officers and a steering committee which will form a Broad Left United Executive Committee.
We have agreed in principle a set of Left progressive policies and principles which will be reviewed periodically.
We believe in a strong lay member democracy – Lay Member control of the Union through a Lay Member Executive Council - cascading down through the Lay structures i.e. Industrial Committees (Regional and National) – Regional Committees - Area Activist Committees and Branches.
At this first meeting the subject of the postponed launch of the United Left was discussed in depth.
Many delegates outlined their total opposition to the delay in launching a National Unite Broad Left citing amongst other reasons the undemocratic manner in which the decision to delay was arrived at together with the pressing need to launch a United Left within the union as soon as possible.
We all know that these points have already been well discussed on this forum and the intent is not to start the debate again but to convey the strength of feeling in the North West Region.
We need to move forward for the benefit of our members. The original date of the launch in November is clearly now not practical however it is the unanimous view of the North West that we convene a National Launch of the United Left at the earliest possible opportunity in order to take our union forward for the benefit of all of our members with or without the distraction of an election for JGS. We would argue for early January which, given the continuing attacks on our members wages and conditions in the attempt to solve capitalist problems at our members expense, would show unity in our ranks.
Sent on behalf of the North West United Left.
Sharon Hutchinson
Vice – Secretary

John Cooper          Chair
Pat Coyne              Vice-Chair
Neil Sheehan         Secretary

John Wiseman Treasurer

Tony Woodhouse - Chair of Unite - United Left Member

http://unitedleftnw.blogspot.com/

[Blogs] Lex Luthor comments on George Osbourne's economic forecasts

2008-11-18T10:28:40-05:00

[Blogs] Tory lead down to 3%

2008-11-18T08:43:46-05:00

According to IPSOS/MORI

http://www.ipsos-mori.com/content/home-page-news/conservatives-down-to-3-point-lead-over-labour.ashx