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
Category:
Economics
Economics Theory
Framing the Economy (continued) – Project Value
It is likely that those of you at the back of the class will have overlooked the fact that in my Project Airbus suggestion for framing the economy money was never mentioned. No need to worry – if the economy is considered as the archetypal joint effort, then money in the economy is just part… Read more
Framing the economy – Project Airbus
A while ago the New Economics Foundation issued a paper on framing the economy. It was really a series of focus groups set up to try to establish how the public see the economy. All very interesting, but not in the end very helpful, simply because there was nothing to build on that would really… Read more
Budgetary Sleight of Hand
This is rather a good video from Momentum. It is in the same vein as Simon Wren-Lewis’s suggestion that Conservative budgetary aims are based on deceit not ignorance: Sam has got just one question – and if anyone can answer it, he'll vote for the @Conservatives for the rest of his life. pic.twitter.com/FJLXqQtNq8 —… Read more
Because we’re not worth it
I’m probably late to the party but there is a very worrying piece in the Independent where it indicates that court enforcers are to be transferred to Capita. Apparently it will ‘save the taxpayer up to £46m over five years’, so that’s over nine million pounds a year – between us all that’s certainly less… Read more
If we can do it, surely we can pay for it ?
One of the most confused suggestions of my recent session with Positive Money (PoMo) was their stance in favour of PQE, which they are happy to admit is just printing money without first raising taxes. IE they are spending first. So if they are prepared to justify it on that basis what do they propose… Read more
Positive Money thinking
Whilst most people were probably on holiday, I spent much of last weekend at a ‘get together’ in scenic London SE1 with Positive Money. Or PoMo as many of the staff seem to call it. I do think that PoMo is to be admired for – uniquely – promoting grass roots groups throughout the country… Read more
HM Treasury says MMT is correct
It was almost a year ago that I originally wrote to my MP to ask him to enquire of the Chancellor ‘Where does money come from?’ I have, at last, received a reply (click to enlarge): It reads rather as though the writer, John Glen, Economic Secretary to the Treasury, has received intensive training from… Read more
Market failure – fortunately we have the NHS
Market ideologues are a group that believe in the supremacy of the market. Their belief may be based on what they learnt in Economics 101 or on what works best for them. Their problem, and a problem for all of us when market ideologues gain power, is that market ideologues refuse to accept evidence of… Read more
TheFullBrexit.Com
Am I really offering a link to a Brexit site? Yes, I fear, I really am! And just because, whilst I do think they have the best of intentions, they are not correct. They suggest – and this is probably true – that the collapse of UKIP shows that people are prepared to accept the… Read more