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

Bankrupt Legislation

An interesting programme last night on Radio 4 about bankruptcy – something to which I have been close for about 5 years or so of my life. What disaster befell me? Just a corrupt solicitor, who unfortunately deceived me. He went to jail in due course – and I doubt he enjoyed it as he… Read more

Despair of ‘The Left’

Grace Blakeley, of the IPPR, has written a tour de force on the financialisation of capitalism on the Jacobin website and bemoans, as do most of us, the lack of proper change since the financial crisis. She sums up the pre 2008 situation rather neatly, I thought: This class of [middle class] “mini-capitalists” had a… Read more