UK 2017 General Election - Labour's John McDonnell Campaigning in Derby

The video discusses a major shift in economic policy, moving away from neoliberal economics, which is based on trickle-down theory. This theory suggests that tax cuts for the wealthy and corporations will benefit the broader community, but it has been deemed unsuccessful. The video critiques this approach and suggests exploring alternative economic models.

What is the main focus of the new manifesto mentioned in the video?

• To promote neoliberal economics

• To introduce new tax policies

• To move away from neoliberal economics

• To increase corporate taxes

What is the core idea behind trickle-down economics?

• Reducing government spending

• Providing subsidies to small businesses

• Cutting taxes for the wealthy and corporations

• Increasing taxes for the middle class

According to the video, what is the expected outcome of trickle-down economics?

• Decreased corporate profits

• Economic benefits trickling down to the community

• Increased government revenue

• Higher inflation rates

What does the video suggest about the success of neoliberal economics?

• It has been highly successful

• It has failed to deliver expected benefits

• It has led to increased economic equality

• It has reduced poverty significantly

What does the video propose to illustrate the failure of neoliberal economics?

• Conducting new research

• Increasing taxes

• Reducing government intervention

• Providing examples