First Class… and MMT

I liked this: Even though this is probably about revenue for the railway – which, state controlled as, effectively, it still is, we surely know that therefore that it doesn’t need revenue. So resources being available, we could indeed all be first class. Regrettably however that would probably take some time.. because less passengers per… Read more

Conservatives really want to undermine UK security

And, in consequence, Polly Toynbee’s recent Guardian article is worth drawing attention to: The EU withdrawal agreement depends on staying in the ECHR, so leaving would mean losing all cooperation on crime, terror and people smuggling, in a world where only international collaboration keeps people safe. In Northern Ireland, the consequences would be dire: the… Read more

‘Small boats week’ (as if) is a lesson in gaslighting and dead cats

and here too: Lawyers have already pointed out that they cannot now afford to act for asylum seekers , and whilst noting that the government, regulators and law enforcement agencies already have the powers that they need to deal with immigration advisers engaged in misconduct, The Law Society states: The focus of the Home Office… Read more

Economics must not direct the population

Following on from the reference to this video mentioned in a previous post we now have another suggestion: Additionally a widening, Brexit caused, trade deficit, has also caused the highest inflation in the G7. I doubt anyone could realistically quarrel. In the interim Steve Keen regrets his vote for Brexit – he thought it would… Read more

Brexit seems to work only when it’s not actually implemented.

The food trade has already pointed out that food import checks timetabled for this coming October will be inflationary as well as the logistics being made even worse as the controls more or less exactly coincide with the beginning of the Christmas stock uplift – a recipe for stock shortages and disruption while, owing to… Read more

Is monetary sovereignty endangered by Britain’s enormous food and energy imports?

This was something Steve Keen was mulling over in the podcast he makes with Phil Dobbie. In my view, (as I’ve tried to suggest before), it does. Monetary Sovereignty is of course, the basic tenet of Modern Monetary Theory (MMT). Without it, we can forget MMT… The food imports that comprise, depending on the time… Read more