What Is Corbynomics

With the results of the UK Labour Party Leadership Elections set to be announced this Saturday, its time to take a look at the economic policies of one of the candidates considered the frontrunner, and also the furthest to the left, by many- Jeremy Corbyn.

The Islington MPs economic proposals have made such an impact that they have come under the new title of Corbynomics. Though, admittedly, adding nomics to the names of his rivals would lack the front page appeal of this title (especially Burnhamnomics, or would it be Burnhamomics?), it is undoubtedly the unique nature of Corbyns policies in the leadership race that has brought them a name to come under.

So, what are Corbyns policies, and are they credible? Here are 4 of his policies that are making the headlines.

An End to Austerity

"You just cannot cut your way to prosperity so Britain needs a publicly-led expansion and reconstruction of the economy, with a big rise in investment levels."

Corbyn is a strong opponent to David Cameron and
George Osbornes policy of austerity.

One of the most appealing policies to his supporters on the left, Jeremy Corbyn has pledged to bring an end to the money-saving spending cuts that have been enforced in recent years by the Conservatives.

This means that a government under Corbyn would end spending cuts on public services such as the NHS, the education system and transport- in fact, he would be likely to increase spending on these as demand increases due to a growing and ageing population.

Corbyn would also reverse one of the most controversial austerity tactics, that is the privatisation of public services. He has pledged to renationalise the railway system, and also prevent the further privatisation of the National Health Service.


Reducing Foreign Military Presence

Jeremy Corbyn believes Britain should learn lessons from
an intervention in Iraq seen by many to have failed.

"Thousands more deaths in Iraq ... will set off a spiral of conflict, of hate, of misery, of desperation that will fuel the wars, the conflict, the terrorism, the depression and the misery of future generations." (2003)

However, the only cut that Corbyn proposes is with regards to the military. He is a fervent anti-war activist, something highlighted by his strong criticism of past actions such as Tony Blairs move to invade Iraq, and current proposals like those to militarily become involved in Syria. So, a Britain under Jeremy Corbyn would reduce its military presence in areas like the Middle East, thus saving a considerable amount of money.

Furthermore, as a believer in non-proliferation of nuclear weapons, Corbyn would close down Britains nuclear weaponry facility Trident, located in Scotland. This would not only save money, but also be a welcome move, considering a significant proportion of Scots are against the facilities themselves. However, some worry that such military contraction would endanger Britain, in what many see as an increasingly threatening world.


Quantitative Easing for the People

"QE for people instead of banks"

Banks would no longer benefit from government QE
programmes under Corbyn.

Quantitative Easing is nothing new in government policy, but the manner in which Jeremy Corbyn seeks to implement the divisive policy highlights the new direction in which he seeks to take Britain.

Put simply, in the current system of QE, the Bank of England creates new money that is inserted into the accounts of national banks, with the aim of encouraging these banks to lend more openly and thus stimulate spending in the economy.

Corbyn wishes for the Bank of England to continue creating new money, but proposes that the finances created should not go to the private banks, but a state-owned National Investment Bank, that will "head a multi-billion pound programme of infrastructure upgrades and support for high-tech and innovative industries".


National Education Service

Tuition fees have been a source of discontent for many
of Britains young people. Under Corbyn they would not exist.

"To become a high skill, high pay, high productivity nation we need to invest in education throughout peoples working lives - that is the path to prosperity for all." 

A significant part of Corbyns anti-austerity programme would be the increasing of government spending on education. There has been much uproar in the past decade over university tuition fees, first introduced by Labours own Tony Blair, and increased to as much as £9,000 a year under David Cameron.

Not only would Jeremy Corbyn abolish these tuition fees, but he has also proposed the reintroduction of university grants, which have just been replaced by loans.

Free university forms a major part of Corbyns National Education Service proposal. This system would see the government increase spending on education (funded by tax increases, government military spending cuts and the economic productivity boost the Corbyn camp believe their policies will bring), in order to make education accessible to all, providing universally free childcare right up to free university.

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Educate Yourself on How to Make Money Online

Most of you probably always wonder to yourselves how some people make thousands and thousands of dollars on referral sites like Cashcrate. You think, “How in the heck is that possible when some the highest paying offer is only about $10? I’m not going to sit home all day and fill out $.50 offers that take 20 minutes each. Talk about a waste of time!” Trust me, you’re out of your mind if you think that you can sit around and fill out those little offers all day.

However, you have to look at the entire website from a different angle. Why waste your time filling out little surveys when you can refer other members, have them fill out the surveys and then get paid a commission for their work? Its simple, have your money and time work for you, not the other way around. I did the dirty work when I first joined the PTC websites. I was uneducated and all I cared about was making money even if that meant putting in hours of work. As I looked around the websites I was shocked when I saw that some of the elder members were receiving checks for $2000 a month. I thought to myself, no way someone can be making that much filling out surveys. I did some research, broadened my intelligence on the website and learned that earning referrals was where the real money was at.

So I did what any newbie would do, I made a blogger, posted Cashcrates FAQ and thought the money would be rolling in. However, when it wasn’t, I was angry and just wanted to quit the whole operation. I knew that I was not going to be making any money if I continued doing what I was doing, because every other idiot was doing the same thing that I was. I had no proof of payments, no information on how to actually make money, and worst of all no originality.

When I finally realized how stupid I was for thinking that the spam of a blog was going to actually make money I went to google and did some research. I found out that the formula to getting referrals is quite simple, BUT takes a good amount of work.

Make a website (or a blog/webs account), post unique/well-written content that readers will want to read, and spend your time increasing your PR by getting backlinks. I have been told in the past that the key to having a lot of traffic on your website is to spend 20% of your time writing content and 80% getting backlinks.

If you have no idea what I’m talking about then go back to my first posts and start reading. I promise you that you will learn a lot about this business and your time spent will be worth it in the long run. It really isn’t that hard to make money online as a teen, just be smart, don’t give up and don’t get rattled if you had a bad month. Keep at it and you will be making money in no time.

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Stop Being Lazy

I was just on Cashcratess forums going through some sob stories of how people need to make 2 more dollars or they wont reach the minimum $20 to cashout. I feel sorry for these people, because although it does take some work to start earning something on Cashcrate, it really is not that hard. $2? Honestly? Go find 20 cans in a trashcan and there ya go. Stop being a lazy teen (like I once was) and go put in some work and before you know it you will be making $2 every hour of every day for 30 days straight on Cashcrate.

I have recently been reading up on investing and how beneficial it is if you start at a young age. I am still only 17, so if I establish a strong investing IQ then I will be set financially for the rest of my life. One of my favorite quotes that I came across just yesterday was:

"Stop working for your money, instead have your money work for you."

This had a powerful impact on me and really speaks volumes to about 99% of Americans. They get an education, get a job, pay taxes and barely have any income left for themselves. So basically they are working 60+ hours a week to eat and live in their house. Sounds exhilarating. Live a little, take chances and it will pay off in the end. Having your money work for you is exactly what I am teaching you to do. If you havent already read some of my previous posts on keywords and backlinks.

Cashcrate and other survey sites are a great way to start earning some extra money. I currently have a job at a pet store, but because I put in a couple extra hours on this blog and survey sites I am making an additional $500 a month. And just because many of you are young, doesnt mean it is hard to make money online as a teen. Just be smart, stop being lazy and use your brain to decide whether there is a good or bad oportunity in front of you.

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Different Ways for Teens to Make Money Online

While online survey sites remain the best way for teens to make money online, there are many other options to keep in mind during your ventures. Here is a list of 5 other possibilities that you can use to get started on today.

1.) EBAY - There are thousands of dollars to be made on Ebay if you put the time in. A
n account is free and you can begin selling your items today. In fact, over the past month or so I have been selling old video games, clothes and other various items laying around my room and have already accumulated $870. It really is a great opportunity which is why many adults make their living by selling things via Ebay. Just make sure that you are a reliable seller and be ready to communicate with the buyers about your items.

2.) Blogging - Have a hobby or interest? Write about it. For example, I have several friends that run a big gaming blog and pull in thousands of dollars a month via Adsense. At first, they got few visitors , but as they continued to write quality content more readers began to show up. By simply writing about something that they enjoyed, they were able to start up a relatively cheap blog and now make upwards of $5000 a month. By posting google adsense ads on the blog, visitors click on the ads and they are paid a commission for each click.

3.) Mechanical Turk - Until recently I had no idea what Mturk was. However, after checking it out and using it for a couple weeks I have been pleasantly surprised. Simply put, Mechanical Turk is a service offered by amazon.com that allows you complete small tasks for a compensation. For example, you may be shown a picture and told to describe it in 10 words for $0.10. Now this may not seem like a lot but after doing it for a while you can make a steady income. Also, there are much higher payouts like writing a 1000 word article for someone for $15. There is a good amount of money to be made on Mturk if you put the time in.

4.) Write an E-book - A simple and fun way to make money is to write an e-book and sell it online. Consider yourself an expert on something? Put your thoughts down on paper and you will be surprised at the amount of people interested in what you have to say. E-books can be about anything, so dont think that just because your a teen people wont want to read what you have to say. When your finished you can offer your book to people on forums, Facebook, etc. and charge a price that you think is reasonable.

5.) Youtube - Youtube is an amazing way to earn great money online. Creating an account is completely free and like blogging, you can place adsense ads on your videos. Thousands of videos on Youtube have millions of views, so just imagine the profit that can be made. If you create a channel and upload funny, unique, informative, interesting videos you can quickly grow your view count on your videos and be well on your way to earning great money. However, just know that just because you make a video, that doesnt mean that people will watch it. It has to be engaging and make sure to leave the viewer wanting more so they will come back and eventually tell others about your channel.

Combine what works for you

Now you dont just have to try one of these methods. If you combine a couple of them you can be on your way to earning good money online as a teen. Begin testing what works for you and what yields you the highest profit and stick with that. Good luck everyone! Thanks for reading.

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