From Bloomberg to Positive Money nobody seems really to get it right

Bloomberg has offered  another piece on Modern Monetary Theory (MMT). This one is more complimentary and quite reasonably compares MMT with the seventeenth century scrip issue of Massachusetts, which they claim rather dubiously I’d have thought, to be the “first fiat currency in the Western World”. Personally I’d have thought that honour should go to… Read more

“Narrow, rigid, unimaginative and sly.” And an armistice in return for continuing conflict. Is that our PM?

There is a devastating opinion piece in the FT from Robert Shrimsley: Theresa May is: Narrow, rigid, unimaginative, sly, secretive and wholly lacking in the political skills necessary to win over voters or build alliances, rarely can a leader have looked less suited to the task before them. This is the consensus view of the… Read more

Modern Monetary Theory is logically inconsistent with a Job Guarantee

There is an interesting piece (which I was alerted to by Graham) from the Gower Initiative for Modern Money Studies about Universal Basic Income (UBI). The Gower Initiative, being ‘Modern Monetary Theory’ (MMT) advocates, believe of course, in the advantages of the Job Guarantee (JG), but whilst, whichever your preference, there is much to agree… Read more