There is a better way

A new economic agenda

John Grieve Smith, Anthem Press, 140 pages, paperback, £12.95

The author argues that New Labour has accepted all the essential features of Thatcherite economics, which he calls the "new orthodoxy".

The new orthodoxy abandoned the previous Keynesian consensus, with its emphasis on government action and the role of the public sector to create full employment, and returned to free market economics. This cut back the role of the state and shifted power and income from the trade unions and those they represent. Proponents claim there has to be a minimum level of unemployment to keep inflation in check.

The author discusses in detail the measures needed to create the 1.75 million new jobs needed to reach full employment in the UK.

Within the framework of Keynesianism the author sets out the policies needed to create a fairer society and a better welfare state, with less means testing and an expanded public sector. He examines the future of the European Union and the reform of the global financial system. A controversial, penetrating analysis, very stimulating and readable.