Master of macroeconomics?

Gordon Brown: The Great Redeemer?
Disaffected Labour voters are the key to the Scottish referendum, and the former prime minister is tasked with winning them to the No camp. But can the master of macro-economics summon the necessary emotional appeal?

That’s a bit rich isn’t it, Gordon Brown, master of macroeconomics?

He couldn’t even get Keynesianism right, could he? Still running a budget deficit at the top of the boom?

25 thoughts on “Master of macroeconomics?”

  1. Gordon built his political career carrying a bag of bricks with a couple of tinnies on top. Even the jocks know that. His entry into the debate will almost certainly result in a win for the Yes vote.

  2. I thought that it was a joke, but on reading the whole article it looks as if she is one of the few fans Brown has left.

  3. “Those who watched him through the last, anguished days in Downing Street, as he struggled vainly to cobble together a coalition, know the truth about the end of the Labour years. Only the indomitable struggle of Gordon Brown prevented a catastrophic rout from which Labour might not have recovered for years to come.”

    Poor Mary, she really has got it quite badly.

  4. He’s mysteriously popular in some of the traditional Labour strongholds. His constituency, and the neighbouring one, has many shithole ex-mining towns still fighting against Thatcher and Tebbit.

  5. Surprising that the Bottle-fed Boy can spare the time from his business to go campaigning. He certainly doesn’t have time to attend the HoC more than every other Preston guild.

    He still has time to collect the wages tho’.

  6. I have mixed feelings about Gordon Brown. Sincere but misguided and spectacularly inept and clearly off his nut

    However, all will be forgiven if the vote is No next Thurs

  7. We should thank Brown if he delvers a Yes. Because if No wins the UK gets stuck with supporting a commie basket-case for all time.
    PS, re the Tridents, I checked: they can operate out of Plymouth and while that’s being upgraded refit at Kings Bay, Georgia.

  8. BraveFart,

    You might as well vote yes and get it over and done with.

    If its a narrow No vote then the Yes campaign will start campaigning immediately for another referendum, claiming that it would have been Yes given another week or so.

    Devo Max will be bodged and the English will be really pissed and you’ll have to put up with us English whingeing at every opportunity as well.

    Given that Devo Max has now been promised even if 98% vote No its still going to be a cluster fuck.

    So, as I say, please vote Yes and spare us another 5-10 years of crap.

  9. John Redwood seemed to have a good idea about how to handle a “yes” vote:

    “The first thing the UK Parliament should do is pass a short Act. This would say that Scottish members of the Westminster Parliament will no longer vote on any matter not applying to Scotland, and will take no part in settling the response of the rest of the UK to Scottish withdrawal. It would also cancel the May 2015 General Election in Scotland. Current Scottish MPs would continue for their residual functions until the split of the kingdoms in completed.”

    In Brown’s case that wouldn’t make much difference – he’s almost never in Westminster anyway and he’d almost certainly be re-elected in 2015.

  10. Bloke in Central Illinois

    Has anyone ever really gotten Keynesianism right, as in deficit spending to prime the pump, then running surpluses when the economy recovers?

  11. Does anyone know, if Scotland votes for Independence, does the BBC take a 15% haircut or do we see a 15% price hike?

  12. @ Bloke in Central Illinois
    In the UK, the post-1931 Coalition government and the 1951-64 Conservative government. If you believe Osborne farther than you can throw him (he *is* a lot lighter than Gordon Brown) then he will do so too.
    Most UK governments prior to Keynes did so by accident, aiming at a balanced budget and caught out by a boom or slump that affected revenues more than expenditure. I suspect that a lot of peacetime US governments did the same. “Keynesians” are less likely to follow the policies of Keynes than those who have *never* studied economics.

  13. @ Rational Anarchist
    The first version was better.
    Sure he abolished boom and bust – he replaced it with bubble and bust. There was no boom under New Labour and negligible, if any, rise in real GDP (the apparent rise was created by two distortions – an error in the formula calculating of RPI that *coincidentally* started in 1997 and was found and corrected in 2010, so “real” GDP growth was overstated by c.1% pa during Brown’s reign and New Labour’s policy of paying public sector workers more for the same amount of work which again causes a wholly imaginary increase in GDP) just a housing and consumer credit bubble

  14. magnusw, no reason why they couldn’t come to a deal for the BBC to broadcast there, in return for a licence fee or a payment from the Scottish government. Jersey, Guernsey and the Isle of Man have all done the same.

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