Their program is unambiguously Keynesian, no doubt influenced by the current adverse relationship of forces between capital and labour at home and abroad, and the recognition that winning the mass of the British population to more radical politics is a process which they are only just initiating.
It explains why the Keynesian punditry, which Financial Times columnist Martin Sandbu represents, cautiously welcomed shadow chancellor John McDonnell's speech to the Labour Party conference this week calling for more government intervention to boost working class purchasing power and economic growth. A growing segment of British business opinion, and global capitalist opinion generally, has come around to the view that monetary policy has run its course, and that more aggressive public spending is needed to revive the stagnant world economy.
While the program of the new Labour leadership is not seen within financial circles to be as radical as portrayed in the hysterical popular media, there is still anxiety about the radicalizing effect that Corbyn's ascendency has had within the Labour Party and trade union movement and what that portends for the future.
If the Corbynistas wants to allay the fears win the confidence of the British bourgeoisie, Sanbhu advises, they will have to "spend some time with the concluding chapter of Keynes’s General Theory...(where) Keynes explains why his view that the state should manage society’s capital investments does not entail the full trappings of a planned economy...A little more Keynes and a little less Marx could take the new incarnation of the Labour party a long way."
Or the other way round, from the perspective of those who don't speak for British capitalism.