When the right-wing press are not engaging in personal abuse and out of context smearing to discredit Labour’s new leader, they occasionally give their opinion on his policy. The most discussed by far is what has been, slightly unfairly, dubbed Corbynomics. The premise is simple: in recessionary times allow the Bank of England to print money to fund infrastructure projects essentially transferring money from the financial economy to the real economy. It may seem like a silly idea, but the Bank of England has engaged, since the financial crash, in a kind of Corbynomics by proxy: printing money to sure up bank balance sheets, making them more likely to lend and slowly, whilst transferring through several financial institutions, stimulate economic growth and liquidity. That’s called Quantitative Easing.
The biggest objection to Corbyn’s policy from the right-wing (other than laughable comparisons to Zimbabwe) is that by directly politicising monetary policy and creating money out of thin air to build infrastructure, inflation will rise. Mark Carney, the governor of the Bank of England, alongside former Shadow Chancellor Chris Leslie and former leadership candidate Yvette Cooper, have made a logical argument that inflation rises always hit the poorest hardest.