Are we anywhere near there yet?

James Bloodworth, the incisive author of  ‘Hired: Six Months Undercover in Low-Wage Britain‘ has turned his attention to buses in  a blog. He is, it turns out, a Somerst boy, so his piece concentrates particularly on buses in Somerset, such as they are. Yet rural bus services ­– much like rural postal services – are… Read more

Fiscal Rules or Radicalism?

A poster on TRUK, Pilgrim Very Slight Return has written on Labour’s so called fiscal rule, (which fails to address the origin of money): “It’s as if they have accepted that the hoi polloi thinks that the earth is flat and then Labour thinks it has the job to produce the drawings to prove it.”… Read more

The Empire is perhaps ingrained: ex-pats or immigrants?

Which EU country has the largest number of citizens (4.9 million) living abroad?A clue: It’s the country that calls its citizens living abroad “ex-pats” rather than calling them “immigrants”. — James Melville (@JamesMelville) August 14, 2018 I post this in haste as I think it important – and I can only concur. Immigants and… Read more

Millennial Hope

It is interesting that it appears (see the video link that follows) that spontaneous singing for Jeremy Corbyn broke out at the Boardmasters Festival in Newquay. Having spent much of the last weeks in Cornwall (not, I regret, at Boardmasters!) it is clear to me that, like many in the rest of the country, the… Read more

How money really works

Positive Money have started a discussion forum and already there seems to be an interesting division between so called Modern Monetary Theorists or MMTers and the opposition. A chap called Howard was certainly against: “Sorry but this is MMT nonsense. Tax money comes in and the numbers in the account go up, when it is… Read more

Framing the economy (continued)- Project Household

Having earlier tried to demonstrate that the economy is a construct to enable greater overall prosperity, and that money within it usually serves to derail this value, there is no avoiding the most recurring misinterpretation – that the economy works like any old household. Unless Project Airbus can be seen as a household the economy… Read more