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

How money really works

Positive Money have started a discussion forum and already there seems to be an interesting division between so called Modern Monetary Theorists or MMTers and the opposition. A chap called Howard was certainly against: “Sorry but this is MMT nonsense. Tax money comes in and the numbers in the account go up, when it is… Read more

Positive Money thinking

Whilst most people were probably on holiday, I spent much of last weekend at a ‘get together’ in scenic London SE1 with Positive Money. Or PoMo as many of the staff seem to call it. I do think that PoMo is to be admired for – uniquely – promoting grass roots groups throughout the country… Read more

Neoliberalism is no philosophy but simply another pressure group

I quote from the New Economics Foundation (NEF) “deepen the inequalities and inefficiencies of neoliberalism.” This suggests neoliberalism is a philosophy. I profoundly disagree. It is rather a pressure group that was smart enough to endeavour to create an idea. I think the NEF should know better. We must beware – neoliberalism is NOT a… Read more