Free time and GDP

The Green Party has proposed a free time index as a better measure of the economy than GDP. Perhaps. But is childcare free time? If it is is it is often pretty hard work! And if it isn’t, then we could find that to have a beneficial free time index we mustn’t have children…. Still,… Read more

Here’s where Leadsom is actually right

Saturday’s Guardian says, “Andrea Leadsom outbid them all when she dreamed of a future when there was “absolutely no regulation whatsoever – no minimum wage, no maternity or paternity rights, no unfair dismissal rights, no pension rights – for the smallest companies that are trying to get off the ground”. This was what Molly Scott… Read more

Even more evidence that Positive Money is embracing MMT

To start at the end of Positive Money’s latest article “It is promising that MMT (Modern Monetary Theory) is gaining traction in every corner. We greatly enjoyed attending both [MMT] events and have only warm expectations about working together to design a better, healthier, fairer economy.” “Positive Money (PoMo) has long advocated using public money… Read more

The IMF have suddenly discovered both the price of everything and the value of nothing

The FT has reported that the IMF says that “Cash-strapped governments could find a huge new source of revenues if they managed their assets more professionally” Those presumably will be the ones that the IMF was previously in favour of not just managing, but privatising. “The potential receipts, equivalent to an average of 3 per… Read more

The next financial meltdown …

Another Radio 4 programme “The next financial meltdown” should have been of interest – and it was, vaguely. But none of the high profile people included – and most were certainly intelligent – seem to know where money comes from. Or even if, perhaps, they do, they do not acknowledge it. The best commentary came… Read more