What gives money value

I was intrigued by a Professor of Eighteenth Century Studies at the University of Indiana, Bloomington, whose name is unfortunately lost in an FT article I cannot now access. But… this Professor was asked to write about Italian mini-BOTS and assignats. “Some would say they’re complete opposites: assignats “backed” by land, mini-BOTS by nothing. But… Read more

The David McWilliams Podcast

Introduction Prof David McWilliams is an Irish economist, broadcaster and author and has recently launched a new podcast. McWilliams is ranked as one of the World’s most influential economists according to rise.global. The podcast is not wholly about Ireland and diverse topics are discussed. What is interesting is that McWilliams is very much on the… Read more

Sticking to Neoliberaslism

I see Simon Wren Lewis is puttting his oar in in support of James Meadway – in the sense that he is supporting his Fiscal Credibility Rule (FCR). This same article is also, by the way, published in the New Statesman. Since Simon Wren Lewis (together with Jonathan Portes – both former Treasury Civil Servants)… Read more

The Brexit breaker?

I’ve long considered that the weak point in so called Modern Monetary Theory (MMT) is how exports and imports are considered. Of course, in the UK, we must realise that as a deficit (as in trade deficit) nation we need foreign investment. While Chris Williamson MP has a tendency to speak truth unto power and… Read more

BoM June 2019

Our June book of the Month is the Ministry of Truth by Dorian Lynskey. Dorian is the producer of the excellent Remaniacs Podcast and there is a brief interview with the author in podcast 118: Anarchy in the UK EU elections aftermath special. Dorian has not been on his own in noting that in age… Read more

Basic Security is a superior public good since its value rises if everyone has it

This title is from an interesting article in ‘Open Democracy’ on Universal Basic Income by Professor Guy Standing. Comparing Universal Basic Income to Universal Basic Services he points out that what has been proposed is, in fact, far from Universal. And thus the proposals are beset by distributional problems. This is much the same view… Read more