JOSEPH STIGLITZ usually teaches at New York’s Columbia University, but now the Nobel Prize-winning economist is coming to Britain as part of Labour’s bid to challenge the Tories’ austerity claptrap.

The Price of Inequality author will deliver one of nine free public lectures announced by Labour yesterday.

The New Economics series starts next Tuesday when Professor Mariana Mazzucato, author of the Entrepreneurial State: Debunking Public v Private Sector Myths, delivers a talk on “market fixing to market creating and shaping.”

Labour hopes the lectures, delivered by members of shadow chancellor John McDonnell’s economic advisory team and other experts, will counter Tory spin that Labour can’t be trusted on the economy.

Announcing the initiative, Mr McDonnell said: “I am delighted to have some of the brightest minds in economics sharing their thoughts about how we can build an economy fit for the future.

“On the most pressing issues of the day — for example, how to tackle inequality, the role of innovation and the future of the workplace — Labour will be listening to what is being said while we put together our own proposals.

“These meetings are an important first step on the path to reshaping the economic debate in the country and getting away from it being a Westminster-dominated view of economics.”

Former Greek finance minister Yanis Varoufakis and Cambridge academic Dr Ha Joon Chang will be among the other speakers.

• For more details, go to www.theneweconomics.org.