Modern Monetary Theory (MMT)’s flaw for balance of payment deficit nations

Many, if not most, would agree that we have been poorly served by Conservative austerity policies, not just because it engenders economic contraction, but also, even more importantly, because it concentrates on judging the economy using the wrong measure. It is obvious that for sovereign currencies where the government creates its own money government deficits… Read more

Paying the political piper

This is from the latest ‘Sunday Times’ and shows the Top 50 political donations from individuals and private companies in 2017. It reveals that the Conservative Party receives the overwhelming majority of donations – both financially and in numbers – with 47 large donors, or 48 if you count when it was shared with UKIP,… Read more

What price financial secrecy, when God knows our innermost thoughts? – a guest post by Andy Crow

At the risk of cross-referencing within the echo chamber, Richard Murphy on his Tax Research UK blog responds to suggestions that reordering the terms of financial secrecy jurisdictions is liable to promote a rash of kidnappings affecting wealthy individuals. The squealing of the piggies is loud and plaintive. ‘What about our privacy?’ they cry. OK,… Read more

Digital & Positive Money

Having dissed Positive Money (PM) for their Money Creation Committee, I offer now a few approving comments… PM can be justifiably proud, having been founded only in 2010, that A, they are still here,and B that they now refer more and more to the political economy. They have clearly come a long way in a… Read more