Counter-cyclical Job Guarantee or Universal Basic Income as An Economic Stabliser?

A very interesting recent post from Ivan Horrocks leads me to think a Job Guarantee is clearly possible, but it seems to me to be particularly suited for school leavers. For those worried about the country’s lack of work ethic, who, anecdotally at least, so often seem themselves to be in financial services or property… Read more

Job guarantee programmes: back to the future?

Following Peter May’s mention in his blog of the 8th January of Dr Fadhel Kaboub and Modern Monetary Theory (MMT), and his advocacy of proposals for job guarantee initiatives, I happened to spot a link to a presentation by Dr Kaboub in a TRUK blog ( The presentation is worth watching in full, not least… Read more

Suggested requirements for a properly functioning Monetary system based on MMT in the UK

It is interesting that Fadhel Kaboub, Associate Professor of Economics at Denison University, and president of the Global Institute for Sustainable Prosperity, who is a great Modern Monetary Theory ‘MMT’ (Charles Adams’ summary here) and Job Guarantee Advocate, seems to be rather opposed to the Warren Mosler and Bill Mitchell idea that exports are like a… Read more

From being ironical, ‘local currency’ is now of the essence

FT Alphaville (which is generally free) has an article on an Italian bank that has gone bust entitled ‘The curious case of Banca Carige’. It certainly is – the European Central Bank (ECB) is acting as a receiver! It states: The ECB assumed new powers in 2014, through the implementation of the Single Supervisory Mechanism… Read more

2019 forecasts

The FT has started the new year with a bang by asking economists for their forecasts for 2019. The article itself offers more detail but this is is a small selection of the pretty devastating comments: “Given the political shambles . . . the outlook is anything from lacklustre to catastrophic, but who knows?” said Diane Coyle, professor of… Read more