Labour's ‘Everyday Economy’: Why, How, and for Whom?

Abstract

AbstractThe literature on the ‘everyday’ or ‘foundational’ economy poses fundamental challenges to orthodox economic thinking. First, it implies a different way of thinking about economic success, based on good lives for all rather than growth for growth's sake. Second, it emphasises how dominant financialised business models undermine good outcomes for both workers and consumers. But, since the ‘everyday economy’ as a political frame does not make these issues explicit, it leaves room for them to be elided as part of Labour's post‐Corbyn rebranding. When Starmer's Labour has squarely confronted issues of power and ownership in the ‘everyday economy’—for example, with its proposed windfall tax on oil and gas firms or plans for publicly‐owned energy generation—it has reaped political dividends. However, it remains to be seen whether the party has the appetite to build on these interventions and set out a broader agenda for structural reform.