The Innocence Tax and how Democracy is undermined

There has been a series of articles on Channel Four News on the experiences of ‘The Secret Barrister’ – and of course there is a book of the same name. This illustrates the straight injustice for potentially any one of us when the state refuses to fund adequately our defence – not to mention the… Read more

The Deficit Myth criticism – second try

Julian Jessop was previously Chief Economist at the Institute of Economic Affairs, which he describes as “the [we ought to know – Koch Brothers funded] educational charity and free-market think tank” – and, remarkably, he is also of ‘Capital Economics’, one of whose members has already had a first try (commented on yesterday). He has… Read more

Taxpayers’ money doesn’t exist and is in the hands of the receivers

Ministers, government and mainstream media, insist on calling government money taxpayers’ money. Indeed everyone ‘knows’ it is taxpayers’ money and that is exactly why the government has to be so careful with it – because it’s not really theirs. So indeed did one Neil Mendoza, who is in charge of distributing the £1.57 billion in… Read more

Difference between PoMo and MMT may principally be just Strategy

Having contributed to a paper which may even appear on the Positive Money (PoMo) website in due course, I wonder if I may at last be able to shed further light on where Sovereign Money Reform (SMR) differs from Modern Monetary Theory (MMT), (which I’d love to rename Sustainable Government Finance – I can hope!)… Read more

Wrong framing can often just be a subtle influence…

The headline in yesterday’s Observer was ‘NHS chiefs in standoff with Treasury over emergency £10bn’. Apparently: The row piles pressure on Sunak to find more money for the NHS ahead of his summer statement on Wednesday. The article says that, according to the NHS: “There’s a very, very significant difference between the phrase ‘the NHS… Read more

The barbarians are not at the gate but actually in charge

European ‘Coronavirus’ emergency funding for the arts (approximate figures from various sources) currently stands at: France £6.5bn, Germany £900m, Italy £221m, Spain £68m, Ireland £18m and the UK – NIL. I’m ready to bet that the UK has the largest performing arts sector of any of these countries – indeed that may well be why… Read more