Germany has extended its furlough scheme by 2 years, but apparently Sunak thinks that for the UK this is not possible. How can he realistically suggest that the largest economy in Europe can achieve this without a fully sovereign currency, but Britain with its own currency, and economically, only one or two places below Germany,… Read more
Category:
Economics
Economics Theory
Increasing wealth is protective of health..
I’m amazed to be agreeing with Matt Hancock: There is not a word to disagree with here – particularly that it is the first responsibility of any government is to protect its citizens. I have a friend who thinks Hancock is genuine. He could be. But if he really thinks this, certainly he has to… Read more
The new scapegoats…
For most of the media it is never ‘our’ fault and the government may be in charge but it is never, ever their fault either. Up till now it has invariably been the EU’s fault. But that excuse is shortly to become unavailable. So what could the plans be from January 1st? I’m not in… Read more
Johnson’s sorry go round
Well this turned out well: I also heard a piece on the radio that Ken Livingston went back to his old London Mayor office and it was exactly the same as he left it – even though he had been meaning to get rid of what if I remember correctly was his biro pot… So… Read more
Misunderstanding MMT again….
I see Stephanie Kelton’s The Deficit Myth has come in for criticism from the mainstream once more – this time from someone who is the definition of a mainstream economist, David Smith, the economics commentator of the Sunday Times. He says he has “had many requests to write about what is known as modern monetary… Read more
‘Sovereign Money’ revolution
Picking up where I left off a couple of days ago on how to pay for a Universal Basic Income, another reason I found the linked talk interesting was because of the so called ‘Sovereign Money’ proposal. The was the idea proposed by Geoff Crocker (who incidentally, also considers religion has a purpose as useful… Read more
Creating full employment is the real Job Guarantee
There was an interesting discussion on Universal Basic Income here form the ‘Basic Income Conversation’ and in particular, of course how it would be paid for. Actually, I have already discovered that a straightforward basic income is simple to ‘pay for’ when conventionally required. But this discussion was especially with regard to new monetary thought… Read more
The power of the Pound
A straightforward introduction to money……. Read more
Not all money is equal
As many will know I’m an ‘amateur economist’. And happy to be amateur as I think that if the economy is important, then anyone interested should be able to understand it. Yet I’ve long been mystified by some of the terms used with regard to money. In particular ‘Exogenous’ and ‘Endogenous’ money….. And these turn… Read more
Hardship ahead
According to a Sky News report, Conservative policies have (either purposely or inadvertently) arranged for the country to be subject to hardship ahead. Rishi Sunak said: I don’t think it’s fair to extend (furlough) indefinitely. It’s not fair to the people on it. We shouldn’t pretend there is, in every case, a job to go… Read more