The Economists Write....

Sir, We wish to register our opinion that the economic policies sketched by Jeremy Corbyn are likely to be highly damaging, and send this message to counter the impression that might be got from the previous letter of “41 economists” that Mr Corbyn’s policies command widespread support in the mainstream of the discipline. 

Renationalising industries is highly unlikely to improve the performance of its targets, and very likely, if history is anything to go by, to make things worse. If compensation is paid, it will be a waste of fiscal space, even unaffordable; in case it is not, it will be extremely damaging to the climate for enterprise in the UK as other companies fear the government would get a taste for it. 

 “People’s QE” would be a highly damaging threat to fiscal credibility, and unnecessary, since at this time of very low interest rates and tolerable debt/GDP public investment — in many areas much needed — can be financed conventionally. Figures put on money that could be found from ending “corporate welfare” and combating tax evasion are almost unbelievable and add to the sense that Mr Corbyn’s plans have not been seriously thought through. 


Paul Levine Professor of Economics, University of Surrey Tony Yates Professor of Economics, University of Birmingham Wouter den Haan Professor of Economics, London School of Economics John van Reenen Professor of Economics, London School of Economics George Magnus Associate, China Centre, University of Oxford Ronald MacDonald Professor of Economics, Glasgow University Cristiano Cantore Senior Lecturer in Economics and Deputy Head of School, University of Surrey Joe Pearlman Professor of Economics, City University Kent Matthews Professor of Economics, University of Cardiff Costas Milas Professor of Economics, University of Liverpool Akos Valentinyi Professor of Economics, Cardiff University Valentina Corradi Professor of Economics, University of Surrey Alex Mandilaras Senior Lecturer in Economics, University of Surrey Cian Twomey Lecturer in Financial Economics, National University of Ireland, Galway Miguel Leon-Ledesma Professor of Economics, University of Kent Alexander Mihailov Associate Professor of Economics, University of Reading Peter Sinclair Professor of Economics, University of Birmingham Christopher Martin Professor of Economics, University of Bath Richard Disney Professor of Economics, University of Sussex and Institute for Fiscal Studies John Fender Professor of Economics, University of Birmingham Chris Florakis Associate Professor of Finance, University of Liverpool Philip Rothman Professor of Economics, East Carolina University James Foreman-Peck Professor of Economics, University of Cardiff Juan Paez-Farrell Lecturer in Economics, University of Sheffield Mike Wickens Professor of Economics, University of York Michael McMahon Associate Professor of Economics, University of Warwick Michael Ben-Gad Professor of Economics, City University George Bratsiotis Reader in Economics, University of Manchester Dr Rebecca Driver Economist, Analytically Driven Phillip Booth Professor of Insurance and Risk Management, Cass Business School Theo Panagiotidis Professor of Economics, University of Macedonia, Greece Ali Al Nowahi Professor of Economics, University of Leicester Manthos Delis Professor of Financial Economics and Banking, Surrey Business School, University of Surrey Martin Ellison Professor of Economics, University of Oxford Christopher Spencer Lecturer in Economics, University of Loughborough Alastair Milne Professor of Economics, University of Loughborough Tom Holden Lecturer in Economics, University of Surrey Patrick Minford Professor of Economics, University of Cardiff Mark Koyama George Mason University, Washington DC, US Ettiene Farvaque Professor of Economics, University of Lille Stephen Hall Professor of Economics, University of Leicester Stephen Wright Professor of Economics, Birkbeck College, University of London Ray Barrell Professor of Economics, Brunel University Ben Ferrett Senior Lecturer in Economics, University of Loughborough Roy Zilberman Lecturer in Economics, University of Lancaster Richard Dennis Professor of Economics, Glasgow University Peter Doyle Former senior manager, International Monetary Fund Todd Kaplan Professor of Economics, University of Exeter Bob Rothschild Emeritus Professor of Economics, University of Lancaster James Davidson Professor of Economics, University of Exeter George Kapetanios Professor of Economics, Queen Mary College, University of London William Tayler Lecturer, University of Lancaster James Malley Professor of Economics, University of Glasgow Kitty Ussher Managing Director, Tooley Street Research Geraint Johnes Professor of Economics, University of Lancaster Ethan Ilzetzki Lecturer in Economics, London School of Economics

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