Harvesting other people’s debts should not be a business model

Crises tend to reveal unacknowledged truths. In 2008, we learned that the majority of the financial wizards we had been taught to treat with awe for the previous two decades were, in fact, little more than scam artists — and rather clumsy ones, at that. The coronavirus, and resulting lockdowns, is teaching us an even… Read more

We may be on the money – towards a common outlook

I have been contributing to a ‘Positive Money’ paper on the Covid-19 consequences. I have no idea if it will be accepted but I thought it would be interesting to discover how they are becoming much more ‘government money creation’ friendly! Indeed I think they suggest that they probably always have been (and, actually who… Read more

If the rich knew what tax was for they might actually appreciate it…

This shortish piece (below in quotation marks) arrived in my inbox a couple of days ago after somebody had viewed the excellent ‘Money for Nothing’ video. “Three questions: Why doesn’t the Labour Party explicitly adopt this approach [that money is created out of thin air and we spend and tax in fact] to tax and… Read more

Practical problems for universal income

My recent encounters with the New Economics Foundation lectures lead me to highlight some more of the ideas of Eric Lonergan. For he is, unsurprisingly in the country’s current predicament, in favour of a monthly cash handout (as I understand it as long as the lockdown lasts) to everyone to ensure the economy doesn’t collapse… Read more