Funding the Future

The Bank of England is overdue for reform

The Bank of England, and most especially its Monetary Policy Committee, have imposed misery on the UK over the past couple of years for absolutely no reason. If ever there was a reason for the Bank to be independent of the government, it has long gone. If the best interests of the people of the UK are to be served the Bank is long overdue for reform.

Scotland, Wales and Northern Ireland need better powers to tax

The UK’s devolved governments in Scotland, Wales and Northern Ireland need proper powers to tax or they will always be governing with one arm tied behind their backs. Without such powers devolved government is a sham – and so too is the so-called United Kingdom.

What is modern monetary theory?

You can’t discuss macroeconomics without knowing about  modern monetary theory. So, what is it all about? In this longer than usual video I offer my explanation. You won’t regret finding out.

A cappuccino is the perfect metaphor for the mixed economy

There is no such thing as a state economy. Nor is there a private sector economy. There is always a mx of the two. The cappuccino is the perfect metaphor for that fact.

The days when managing the economy is all about inflation should be over

Inflation is always a temporary phenomenon that always cures itself. History proves that. In that case to make it the epicentre of economic management in the UK is absurd. We need much better goals if the country is to make progress, whether on employment, inequality, investment or climate change.

The far-right is more popular than at any time since 1945. Why is that?

The far-right won an election in Germany last weekend, following on from successes elsewhere. Why is it so popular? And how can it be contained? The answers all come down to neoliberalism. It has destroyed faith in existing political parties, undermining the left in the process. Until the left comes up with a plausible way of beating  neoliberalism the far-right will be on the ascendant.

Why is Keir Starmer so obsessed with denying the free movement of people?

The EU has offered the UK the chance of free movement for people under the age of 30, but Keir Starmer is adamant that this must not happen. He has offered no good reason, just like the parent who says no to a child without offering explanation as to why. Could it be that having the chance to say no without good reason is why he sought power? 

Almost a quarter of young people are dissatisfied with their lives in the UK. Why is that?

A survey has suggested that young people in the UK are much more dissatisfied with their lives than equivalent teenagers are in other countries. Could it be that our economic model is depriving them of hope, opportunity and the chance of well-being?

Labour is a neoliberal political party

Labour was built on the basis of a proud left-of-centre tradition that was based on support for working people and a belief in the power of the state to build well-being for everyone, and not just a few. But that’s gone. Just like the Tories, it is now dedicated to the cult of the individual and is opposed to the state and all it can do for us. The question is, what can we do about this?

Economics for the person on the Mile End Road

Economics always seem to be written from the perspective of the City of London. Even Labour now seems to only exist to serve its interests. But what would economics look like if it was written from beyond the City’s walls? The Mile End Road runs from the City to the East End of London – the traditional home of its new migrant populations. And at its destination is the place where the Peasants’ Revolt ended in 1381. Its history and its location is precisely why Danny Blanchflower and I call ourselves the Mile End Road economists – creating a perspective on economics that few in the profession dare promote. #uk #money #economic #politics #bank #government #tax #investment #share #business #blogger #labourparty #kierstarmer