Not another one? Why not use the numerical evidence to guide us?

I agree with Clement Atlee and Margaret Thatcher, referenda are “a device of dictators and demagogues”. The whole point of representative democracy is that we elect representatives to make decisions on our behalf. If we do not like their decisions, we can elect new representatives. Adding referenda into this mix creates conflicting mandates leading to… 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

Scotland and Ireland the Road to Independence (part III)

Introduction In part I the common heritage of the Scots and Irish was explored. Part II explored the comparative performance of the two economies over the past few hundred years. In part III the current situation is examined. Has independence been a success for Ireland? Should Scotland look at Ireland with envy or pity? Ireland… Read more

From ‘Moneta Positiva’ towards Electronic Parallel Money and an Italian budget solution

It is interesting that Italy has its own Moneta Positiva where debt free money seems to be the call to arms. I generally consider that money is always debt, since all money is a ‘promise to pay the bearer on demand the sum of’, which indicates an obligation – and therefore indebtedness. They are clearly… Read more