According to Dawn Butler MP: On the 212th anniversary of the abolition of the slave trade and 7 days since The International Day for the Elimination of Racial Discrimination it’s remarkable that a group of senior Tories have allowed themselves to be named after leaders of the Klu Klux Klan. And Osborne agrees! I struggle… Read more
Category:
Politics
Allies of Positive Money have actually educated the BBC here:
This is one area, at least where Positive Money can create progress. Let us at least ensure, between us all, that ‘loans are created by bank deposits’ doesn’t get repeated: We have, regrettably a way to go on the BBC’s ideas on Money Creation……. Read more
No Deal is not just self harm on a massive scale – it is tyranny
There is a very discouraging graphic from Giordano Mion, a professor of economy at the University of Sussex, and Dominic Ponattu, a researcher at the Bertelsmann Foundation in Germany: which is suitably dark – the nearest to dark (apart from the sea) indicates the worst impact of Brexit. Funny how the UK – and even… Read more
What is Parliament for if not to keep people off the streets?
A million people on the streets of London or – according to the German media 1.5 million – and allegedly according to Police about 2 million although including quite a lot of chidren. Not that children don’t count but as Police seem to count from the air on the basis of persons per square metre… Read more
Customer is King – but there are no customers in a democracy
I am very impressed by the latest post on Stumbling and Mumbling (which is invariably a good read). Chris Dillow says: It was this “customer is king” idea of democracy that led Cameron to call the referendum and which allowed May last [Wednesday] night to pose as being on the side of voters against MPs…… Read more
That dreaded Fiscal Credibility Rule…
I listened to a radio interview with James Meadway, who is, I understand, now John McDonnell’s former economics advisor. No matter. He came accross as highly intelligent and with a good grasp of ideas (even, rather shamefully to me, some I hadn’t encountered!) The real question which he was almost asked and which he almost… Read more
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
Realistic Fishing
This is an excellent 50 seconds by the SNP MP, Dr Philippa Whitford, on the disastrous control of the UK fishing industry. Many fishermen all over the UK (and some to my personal knowledge) were fervently in favour of Brexit, whilst seemingly ignoring the fleets of trucks taking their catches, not to inland Britain, but… 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