Don’t use MMT except in an emergency?

For the first time that I am aware of MMT (Modern Monetary Theory) has been mentioned in the UK ‘mainstream’ rather than specialist press. David Smith, Economics correspondent of the ‘Sunday Times’, published an article in the paper on Sunday which is reproduced with free access on his own website. He states: Then there is… Read more

Work and Shirk is us…

While many people with zero hours contracts probably want to work more, the rest of us with any sort of secure employment usually want to work less. David Graeber argues that the concept of selling off one’s time in increments is relatively new. Historically, he says, the idea “that one person’s time can belong to… Read more

MMT is perhaps gaining hold in the US as there are some very spurious arguments against it

Modern Monetary Theory (MMT) has received further criticsm in the US – perhaps particularly because that seems to be where it is (can we hope?) gaining a hold. Britain is still mired in the all-consuming provincial business of Brexit. This is a writer on ‘Medium’: “…the treasury can only spend by first ensuring it has… Read more

The housing road to serfdom

“Capitalism must not build a new road to serfdom” concludes an article by Peter Franklin – a previous Conservative speechwriter it turns out – so I was on my guard – but he seems to have been writing mostly for thoughtful Conservatives such as Oliver Letwin… Although, in the article he was talking about the… Read more

Cash or Blockchain?

There is an interesting article in MIT Technology Review which says that “More and more security holes are appearing in cryptocurrency and smart contract platforms, and some are fundamental to the way they were built.” That does not surprise me. If the blockchain can be built then so indeed can it be unbuilt or subverted…. Read more

US versus European Community Banking

I never knew that the US Federal Reserve had someone on their Board of Governors who specialised in community banking but they do, and the Bank of International Settlements has published a recent speech by the holder, Michelle Bowman. She fills the “role designated for someone with community banking experience on the Federal Reserve Board,… Read more