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The Everyday Economy : A Reply to Neil McInroy
Author(s) -
Reeves Rachel
Publication year - 2018
Publication title -
the political quarterly
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.373
H-Index - 37
eISSN - 1467-923X
pISSN - 0032-3179
DOI - 10.1111/1467-923x.12608
Subject(s) - blueprint , settlement (finance) , devolution (biology) , productivity , power (physics) , democracy , work (physics) , economics , political economy , quality (philosophy) , labour economics , political science , sociology , economic growth , law , finance , engineering , payment , politics , mechanical engineering , philosophy , physics , epistemology , quantum mechanics , anthropology , human evolution
The outcome of the 2017 general election showed the demand for a break with a failed economic model. However, Labour needs to continue to develop its thinking, especially around questions of ownership, institutional reform, the devolution of power, and about wages and quality of work. The author argues that a focus on the everyday economy—those sectors upon which we depend for healthy, happy lives and communities and which employ many people, but which are all too often characterised by low wages, low productivity and low skill—can expose the failings of our present economic settlement and offer a blueprint for Labour to forge a new one. Central to this are questions of democracy, but more needs to be said about redressing the ‘financialisation’ of the everyday economy.