A year today I must either have a new job, be self-employed again, or for the first time in my life be unemployed. That is because my contract at City, University of London, expires on 31 October 2019 when the EU funded Horizon 2020 project that funds my current employment ends. There is very limited prospect of securing a similar source of funding in the UK at present because of Brexit. The consequence is I am already beginning to think about what I might do.
I admit I have enjoyed being an academic. I like teaching. It seems my students have liked it too. It would, then, be fun to continue some university-related activity. It also so happens that two years into this research the outputs, which have been relatively slow to deliver to date because that, it seems, is the way the academic process works, should soon begin to appear. But, that said, I have also found that slow production process a frustration: it would be fun to work on more immediate projects again. In that case I am not at all sure I would be looking for a full-time engagement at a university again. Something part-time is what I might want, at most.
And what else to do? Should I appeal for funding, as some blogs now do, and dedicate myself to a freelance research and teaching programme? There could be fun in that, and some risk, of course.
Is there some alternative, appropriate employment? I am, after all, of the age where portfolio careers (a term covering a multitude of sins) become more commonplace. The one thing I do know is I will not be retiring.
Or is it back to picking an issue and seeing funding to campaign for it? If there was it might be around tax spillovers, where work I have been doing might, I hope, appear relatively soon (again, subject to that slow academic process). Tax spillover measures the risk created by one part of a tax system on another part of a tax system, whether in the same country or another one. It is, I believe, a key issue in creating tax justice in the future, but is hardly known now.
Alternatively, I could go back to my first live of accounting and work on how accounting reform is required to really make the modern company accountable. No one is really doing that from a progressive perspective right now.
Of course, I could also work on the impact of modern monetary theory.
And there may be books to write again, which count for almost nothing in an academic environment where the journal paper is everything, whether it is read or not. But if books are to be written, what on?
I stress, I am musing out loud here, but quite deliberately. I have the chance to ask an informed group of people such questions and see all the reason to do so. Those trolling, as no doubt some will, can expect to be deleted without notice or explanation.
I would appreciate comment, and offer thanks in advance.
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‘The clash sets up the extraordinary prospect of Labour MPs rebelling against Mr Corbyn and Mr McDonnell for failing to be radical enough on tax and spend.’
From the Independent this morning. I hope you are able to continue in whatever area you wish. I think you might form the ‘spend and tax’ society. Your blog has enabled me to see real life in a very different way. It will take an enormous shift but with your assistance it has started.
Richard,
I hesitate to give advice. What do I know? I am retired, and so a bad fit; but on the other hand I am at the same time not retired and feel more enthused by subjects that really interest me than I can remember; thus, it isn’t ‘work’.
Too many people allow themsleves, especially in mid life, to continue doing what they have done, or what others expect of them, or to be what they are supposed (by others) to be. We are also schooled to make long-term choices when we are too young. We are encouraged by the world to make our way by fitting in. Avoid all that like the plague. These are negatives of course. Positives?
Try hard to understand yourself, and be honest to yourself about what you really want from life now. That is, I believe much harder to do than people think. We are, as human beings often a mystery to ourselves. We just don’t know it.
I will say that I believe you should do, and only do (if you can), that which at the end of each day you are eager for the next day to come, to renew your efforts and perhaps make a discovery. I will not say ‘do what makes you happy’, but rather do what moves you to act. For myself, I am working on a three year academic research project that came ‘out of the blue’ (not, I hasten to add in economics or accountancy) and am thrilled to be there.
My best advice? Probably skip what I say altogether; I am sure other comments will provide better, sage advice.
Best wishes.
Good advice
Except the last bit 🙂
> I am retired, and so a bad fit; but on the other hand I am at the same time not retired and feel more enthused by subjects that really interest me than I can remember; thus, it isn’t ‘work’.
This echos my path. Since “retiring” last year at 60, I’ve never been so busy but doing things I love and not doing things I don’t. More formally I took a gap year which was not an option in my 20s and watched what emerged as opportunities.
Some surprises and new activities; some commonalities with my previous work.
Every decade gets better! Good luck and please keep the blog.
The blog will survive
Could there possibly be something for you to do in Scotland Professor Murphy. Independence is surely coming and we’ll need radical thinkers!
That might be fun…..
Regardless of when/if Independence ever comes to Scotland, there’s clearly a current need for someone with the necessary expertise in economics and taxation to provide advice and strategic planning to the Scottish Government.
Why not set up as a Management Consultant specialising in your areas of expertise? With your CV and your experience across business, the professions and academia I’m sure you’d get business from a wide range of clients. Also, with the seemingly ever-present threat of austerity and another financial crash, there’s a strong need for turnaround specialists.
Just don’t give up this blog: it’s a valuable resource offering (usually) informed debate about serious topics as well as access to economic thinking that challenges mainstream perceptions.
Ken
That’s appealing, but then I had that when I was 40 or so and gave it up to do this
I admit, it would have to be appealing and transformational to do it. I’d rather make less and do more thinking
So the blog will continue
Best
Richard
Richard I am sure the offers will roll in. If not there is always the “Big Issue” to help keep the wolf from the door .
🙂
Book: ”How Do You Pay For It?”
I like that idea
Richard,
If you think it would help to have a layperson’s perspective I’d gladly assist you in researching, writing or proofreading such a book.
Thanks Adam
Noted
same subject but titled ‘How are you going to pay for it?’
That’s the common reaction to any proposal of investment or extra spending, by the state.
Have you thought of work in civil service, maybe in local government, whether permanent or interim? I work in local government, and there are plenty of experienced people coming back as interims – some well into their 70s, some who have done other things with their lives so bring a fresh insight. Their experience is very valuable.
I’d have thought there was plenty of work in Cambridgeshire, either at the county or district level, for a person such as yourself. I’d guess finance or policy would be the obvious choice.
There will be long unfilled posts to which they can’t recruit because there is virtually zero unemployment in the required skill set, and it is difficult to get people to relocate. So I’d think you could be in work pretty quickly.
And it is a pleasant work environment – people are nice. And the work is interesting.
I have to say that would really not uit my skill set
Whatever you decide on I do hope you will continue with this brilliant blog! My morning reading is the Guardian then you and Bill Mitchell. To this non-economist non-accountant your posts are very informative – and the subsequent “robust”discussions often entertaining. I read about MMT for the first time here which has been a revelation, so I would like to vote for you taking an even greater role in proselytising MMT!
Thanks
And noted
I will niot be giving up MMT
The workers flag is deepest red. I’m feeling tired and going to bed………….
Well I really hope you find something that satisfies you. A lot of us have found ourselves in similar situations but I would say all of my contempories live fulfilled lives after retirement. From a selfish pov I hope you continue this blog because it has educated me and made me dissatisfied with the MSM. Without your efforts which pointed the way to all the other MMT proponents I would still be in the ‘how do you pay for It?’ brigade. Somewhere else in this blog you refer to a book to be published on MMT in 2019; I assume you mean the Bill Mitchell book. However, that is basically a university text and will be quite expensive. I would think a primer on the principles of MMT would find a niche in the market. If it’s as easy to read as The Joy of Tax and The Courageous State I would certainly buy it. Anyway, use your time well, you still have a young family and that keeps you young. I’m being kept in place by granddaughters and a lot of the other things I want to do get pushed to the back of the queue. The great thing, though, is that there is a queue.
Thanks
An Mmt primer appeals
I’m actually a careers adviser so I feel on more familiar ground than I usually do reading your excellent and informative blog.
” Should I appeal for funding, as some blogs now do?”
My advice is usually this: pursue your other options while also doing this at the same time. Internet fame and fortune is something of a lightning strike, some people make it but it’s hard to say that they’re better than similar blogs or youtube accounts that fail to make money. The thing is you can do this, you can put little adverts on your blog, you can record yourself for youtube right away and find out if enough money will flood in to make you satisfied. (Unless you have some weird non-compete in your current contract of employment). So if you’re serious about being a web phenomenon try now at no risk rather than waiting to give up your job first.
“Or is it back to picking an issue and seeing funding to campaign for it? ”
OK, so something like OFOC the new campaigning group for young Remainers? My impression of these groups is that people tend to work gruellingly hard for quite low compensation. It also seems quite emotional as so much of your life and energy is cast upon the whimisical seas of fate.
Possibly it might be less onerous to join someone else’s campaign. You have huge prestige in this area and if you applied to an organisation whose ideals you support you wouldn’t have to suffer all the random tasks that burden a one-person-band entrepreneur. TJN have a jobs page and with your cv you could possibly reach out and draft your own job description. https://www.taxjustice.net/tag/jobs/
“tax spillovers,…..accounting reform ….. modern monetary theory.”
These aren’t jobs, they are issues. For a job you need to find someone who will pay you for a tangible value that you will add to their organisation or, as you’ve said, design your own organisation. Follow the money, Richard, who pays people to delve into the mysteries of these topics?
Let’s establish parameters:
– location. You’ve been working for the EU, would you be interested in relocating there after Brexit? If you’re not mobile what are your travel constraints, how much of your life are you willing to waste commuting?
– workload. A typical entrepreneur may work up to 80 hours a week in the first year. If you’re self-employed, you open the mail, write the reports, answer the phone, clean the toilets. If you don’t want to do some of that stuff you need to bring in enough money to pay someone else to do it.
– ideology. If you work for someone else at some point you’ll disagree and you will be expected to cave because they’re the boss. You may have to sign a NDA or other constraints on your freedom to express your views.
– outgoings. How much money do you need/want for yourself and your family? Cost in work expenses like season tickets.
Once you have a list written out (or typed out) of what your constraints are and where you want to work can I recommend the free National Careers Service? A face to face interview with an adviser would, I think, suit you best. https://nationalcareersservice.direct.gov.uk/contact-us/home
Lastly I’d like you to imagine this: you are at the end of your career, looking back with pride. What sort of work/life experience did you do between now and that imaginary point that has left you feeling happy and fulfilled?
Thanks Simon
Useful
And appreciated
Part 2
A few things occurred to me after hitting Post Reply.
– you should update your cv, quite often you remember little things after you think you’ve included everything.
– modern cv-craft is to redesign your cv for each job application. It sucks but if you don’t do it you’ll come across worse than everyone who is doing it. Make sure that if they use buzzwords you put exactly those buzzwords in your cv so you pass the electronic sift.
You have a number of other strings to your bow that you’ve not mentioned. You’re an author. You’re a broadcaster. You’re a political adviser, heck you wrote Corbynomics which may be government policy by the end of 2019.
Network, network, network. Talk about your future with the many high profile people you know. It doesn’t hurt to have lots of offers.
The EU’s tax work will not end with Brexit. If the EU won’t fund your post in the UK, is an academic position in Ireland or elsewhere in the EU a possibility? Or how about working for the European Commission directly?
What has happened to your work for the PCS, TUC, Oxfam, and various charitable trusts? Could this be revived?
Other universities are possible – but I really do not want to do hat full time
Charitable funding may be possible – but the question is, what on?
You have another year in academia so consider applying for competitive UKRI funding, have a dig around e.g. https://esrc.ukri.org/funding/funding-opportunities/
Full economic costing in a grant can fund a couple of days per week. A lot of work and very competitive, but check it out with appropriate academic collaborators in UK.
I am
But the issue is getting funding for what I want to do….and that is not easy
Most calls are for very boring things
There are lots of good suggestion here. I however would like to come at your question from a different angle.
Your energy is infectious. And your work output is phenomenal. You are many things to me/us out here but I think that one of the things you represent is that of being a model citizen in the modern world.
Therefore I think that your next book should be almost a self help book for people who feel that something is wrong but do not know what to do about it. The book’s theme could be about how to be modern model active citizen at a time when old lies are being exposed and new ones emerging. How to build a self defence against orthodox bullshit. How to think for yourself.
It might be difficult for you to share your internal world in public but you could start with identifying what drives you, your principles what you see and how that guides what you have achieved and done.
I think that you should also talk about being heterodox too and how fun and liberating that is.
And then lead the reader through you own development and how you went about doing something about the problems that you see.
Please forgive me for not putting my idea across very well as I’ve just got in from work and I am a bit knackered.
It’s just that what you have done is valued by a lot of people and it has and is being effective. We just need more of your type perhaps? If you could share how you have come to be then that might be useful. I don’t know.
You ability to write well and clear and concisely would mean that the book would not need to be too long.
But there you go – that is my suggestion, such that is.
Whatever you do, I’m sure you will make the right decision and – BTW – good luck.
That’s a big one to think about
I might make some tea and take that one to bed
Thanks
I recommend Rooibos.
Aeron Davis published “Reckless Opportunists” based on research interviews with those at the top, leaders in their field. He eviscerates them and their beliefs and their competence.
How is it that economists, politicians, journalists, think tanks, civil servants, the man and woman in the street – and their dogs – all seem to believe in the household analogy, the tax and spend mantra? How would they react to being told they’re completely wrong and shown the evidence? That their misconceived conceits have compelled Britons to live “below their means”?
A research project.
Indeed
But not for me….
I am interested in theory in the main
I find myself in a similar position, in that I’m looking for another contract. I have found studying and writing the odd thing is helpful. I would argue learning gives inspiration and inspiration gives learning. So I think starting with the thought you wish to learn something and maybe you can inspire yourself and us too.
If you want an idea for a book, which I think could have the biggest impact given your expertise…
I’ve had a thought that from selfish point of view and from what I have observed, from your blog and the joy of tax book, and the current situation of the country and the feeling that we seem to be reaching a generation electoral and economic shift…
I would like to read a book (and I think the country needs a book) along the lines of “The State We’re In” (Hutton) but updated and with it enhanced by mixing in your ideas that you have expressed in your books/blogs.
This time though discussing why austerity happened, why it didn’t work and why the economic changes you propose would work and why the alternative futures that the country might strike out to would be a disaster.
The only trouble is I think it would be good if you could have it ready by March 2019!!
No pressure then…..
well if I was in your boots I might sell the house before the market really crashes and emigrate to Ireland,
do it now, before the rush, and to bridge the time till your contract expires fly once a week and stay in a Travel Lodge on the cheap a la Alan Partridge!
investigate academic options over there and just basically keep doing the same sort of stuff,
lovely country, lovely people, social cohesion and sense of community still intact there,
I believe you prolly have that avenue open to you and am mighty envious of you!
P.S. if you do go, maybe you could send food parcels back to us trapped here?
I still think I need to be UK based for my sons as yet
“Alternatively, I could go back to my first live of accounting and work on how accounting reform is required to really make the modern company accountable. No one is really doing that from a progressive perspective right now.”
If no one is doing it – then this should definitely be a strong consideration for at least part of your portfolio. I follow quite a few progressive economists, I don’t know any other progressive accountants.
That is the appeal
They exist – the discipline is called critical accounting – but it is very niche and little known
There are a few under economics at jobs.ac,uk mate. Research fellow (2) in tax and development at Brighton? Banking and Finance at UCL? I wanted to get into some meaningful change practice – but ended-up taking on some academic stuff abroad. Might try and do an anti-Jordan-Peterson thing online while I’m at that. Something in human rights?
I know IDS and like it and their work, but I have a UK / developed country focus
Hi Richard,
That will be City’s loss. I am sure you were an excellent teacher. I, for one, have learned a lot from your blog (whatever you do next, please continue with the blog!).
What I have realised, through reading your blog, is that it is each citizen’s duty to at least try to understand economics, as there is a real willingness on the part of the establishment to hoodwink us. Even the mainwing news channels just spout the same line about balancing the books (sadly now here in France too, where the state is being systematically dismantled with that very same mantra)..
Thank you for giving me at least a glimmer of understanding and insight.
I wish you a very fulfilling next phase.
Whatever it is…
Whatever you decide Richard, go with your instinct.
If you enjoy teaching, and if your students are inspired by you, as I’m sure they are, find a way to carry on, at least part-time as you say.
Being able to present complex issues and theories in an accessible manner is a great skill, it should be used, either to write books, or to teach, or to do consultancy work, or all three! You don’t seem short of energy and work power.
Others here have made good suggestions based on their own experience and knowledge base, so as a former teacher and deputy head, I’ll add that nothing keeps you grounded to the real modern world as much as staying in touch with the young. I know you have your children for that, but it’s different.
Good luck with the next phase of your working life.
Oh, and don’t give up the blog, my little grey cells need it as much as coffee!
There seems to be one theme – don’t give up the blog!
Books:
A Modern Myth – there is (a/no) Magic Money Tree
Redefining National Debt as National Capital
An accessible intro to MMT
Austerity – the many paying for the mistakes of the few
Text book MMT for school age kids
Income streams:
Crowd fund a People’s Lobby Group (on economic, political and finance issues) – why should big business monopolise the lobbying of MPs.
Join the after dinner speaker lists
Paid adviser to political parties (SNP, Labour etc)
Monetise your blog – as I’ve said before I would pay to receive your output each day, just offer as a choice – pay or not pay –
Set up and run an Annual Conference to promote the spread of MMT and other pathfinder issues
Collaborate with Michael Moore, write a film script, suggested title “The age of un-reason”
Become a broadcaster, lobby BBC or other commercial radio stations to create a different look at economic, political issues. Become the next Michael Parkinson of informed commentary…
Write a paid column in a daily paper or magazine…
I am in your area from time to time, happy to meet for a pint or two and brainstorm ideas….
Join the gig economy.
No thanks!
Although as I spent 32 years fully self employed I know all about it
Richard,
My guess is that the one thing you really want to do more than anything else is to make a difference, with the one caveat that you also need to make a living out of doing so. That leaves two stand-out possibilities, (i) teaching and (ii) working within the EU on formulating tax policy (it’s not treason, we’ll be back!). I’d suggest (i) because (a) you have indicated strong family reasons for remaining UK based and (b) the other way you can make a difference is by continuing with this blog, media work etc. If you chose (ii) you might be required to keep your head down but with (i) there would probably be no restriction and an academic title would add to your credibility for media work.
You seem doubtful about whether another role in academia would arise. Don’t be. Something will crop up. In fact, I bet there are vice-chancellors reading this blog right now and rubbing their chins in a thoughtful fashion.
Whatever you do, do something you believe in and do it as well as you can. All the best.
An accountant without a PhD who does tax at a policy level and who teaches MMT (amongst other things) is not every universities’ desire
But we’ll see….
And what I really want to do is research, not teach, although I’m happy to do some of that
I agree with Marie Thomas.
How about starting up a new business school at a small university (I am on the Council of one) with a curriculum that includes MMT for the macro students and Deming for the micro’s?
If that was the sort of agenda and you the leader, i wold certainly give it my vote.
John
Mail me….
Richard
Richard
Just off to the Malverns to spend tomorrow with a group studying mining practices in Peru.
Get back to you, email, on Sunday.
Thanks
John Carlisle says:
“…Just off to the Malverns to spend tomorrow with a group studying mining practices in Peru…..”
My word, John. You certainly know how to party. 🙂 🙂
If it was in my gift I’d offer to let you play with the nationalised Scottish railway set 🙂
A man can dream, surely ?
🙂
Keep the blog we all need it. The Book “What colour is your parachute?” is a good one in narrowing down the skllls and desires then what operation/entity provides that. Saves a lot of time as you only approach the person who has the power to hire you.
MMT has long legs as a topic with the how to stop the Sword Blade Bank type occurrence happening with it after the initial phase. The EU central bank has unlimited money it can print and given the hard time you give every empire nation and exclude Luxembourg, Monaco et al they should be very grateful I am sure.
Apologies for coming late to this
I realise you are based in East Anglia but there is a possibility of a professorship in taxation here and some interesting research colleagues in financial crime
Check outhttps://www.linkedin.com/pulse/professors-accounting-economics-finance-rod-emerson/
for more details
All good things for the future
Chris
I will check it out
Thanks
A belated contribution but in fact nothing much to add to the many thought-provoking suggestions above. I would simply confirm – along with everyone else – that I hope you’ll maintain the blog that has a very important ‘multiplier effect’ – way beyond the recorded hit stats. Whatever you choose to do, I wish you good fortune and ‘full steam ahead’ along the next phase of your journey.
Interesting use of multipliers!
Andy, no, no. Railways – I’ll do that PLEASE.
Grrrr….
I’ll have to stick to my own train set
John Carlisle says:
“Andy, no, no. Railways — I’ll do that PLEASE.
Richard Murphy says:
Grrrr….”
I seem to recall that a railway needs a fat controller AND a thin controller…..
Fight it out between yourselves who gets which waistcoat. 🙂
We could recreate the Caledonian, Highland, NBR and GNoSR
But I think not…..
Perhaps when you really retire…
I’m sure Thomas would be eternally grateful to get beyond the Bridge of Dun and see the world……
……..well,….. Montrose anyway. 🙂
🙂
I haven’t visited in a while, partly because I have too many bookmarks and have hived whole sections off and made them invisible, accidently. Anyhow, An article on Dissident Voice (by Gerald E. Scorse writing about ‘stepped up’ basis) had me wondering whether people like Richard Murphy might have an opinion. I need more than one opinion because I can’t digest the material well but I do digest plain English well. If I read enough, I figure, stuff will penetrate.
Alternative media ventures might prove tricky given that the Corporatocracy State (ruling classes just about everywhere) are clamping down on viewpoints that they see as unsupportive. Some say that it’s neither Left nor Right views that are being eliminated (and I’m not exaggerating using the word ‘eliminated’), but anyone challenging the status quo. I agree, although I see the status quo as being one resting on the Right, not the Left. Ergo…
Books? People – large numbers – don’t read. I think it’s a crime. (Look at the stats for that, to be found in Chris Hedges’s “Empire Of Illusion.” He looks at the US and Canada, but it’s no doubt similar for other developed countries.) And it’s scary how Seymour Hersh has to complain about ‘journalists’ not reading enough. But what do reporters need to read if all they do is stenography for Washington or London or whatever capital and ruling class you wish to look at? Even so, Those of who do read would love to have books from those who know a thing or two. And we do blab to others about what we learn, even on blogs, at least the ones that still exist. A book I’m reading right now (which gets JFK Kennedy on the economy wrong, I think; although he doesn’t go into it) is by Yasha Levine and it’s called “Surveillance Valley,” riffing off of the label, Silicon Valley. And it’s important. That’s because the silencing of our voices via the execution of unwanted communications is a serious problem that normal people should be completely freaked out about.
I can’t retire. I’m 62, have been working full time since 1999 (in security) and earn $14.84 per hour. CCP, which I’m collecting early and reduced therefore, is less than $400 per month. A bachelor apartment in Toronto, Canada, even with my CPP top up is beyond my reach. I lucked out and got a bach apartment about $100 below the market rates or I would have had to continue living in rooms (which is hell because it seems you can’t escape thieves and other nasties).
I’d like to retire but be able to do more of what I’m doing, like yourself. Working for the uncaring man is something I’d love to escape from. But I can’t retire. I don’t do anything on a grand scale because in a money system, you need grand money to do grand things, and no one’s going to fund my blog, which posits that this system of things, including the mafia/vampire capitalism happening will soon be destroyed by Jehovah God. Most people talk endlessly about our (man alone) fixing things, while things get worse and the moaning and groaning of the victims grows louder. Those who inform themselves, and care and complain, at least possess the merit that their fightback isn’t merely the screaming out in pain of the wounded. Fightback that is only noise will never do it. That is, in fact, music to the ears of the exploiters. Fightback that is informed and intelligible is essential. But is it enough? Even if it isn’t (and that’s my position), I think that it’s important.
Good luck
And we agree on your conclusion
Arby says:
“Alternative media ventures might prove tricky given that the Corporatocracy State (ruling classes just about everywhere) are clamping down on viewpoints that they see as unsupportive.”
The pace and pressure seems to me to be hotting-up. If Donald Trump achieves nothing else in his term as president, drawing attention to the failure of the MSM to report and investigate may prove to have been worth the period of chaos….which probably hasn’t even got into its stride yet.
His cry of ‘Fake News’ has resonated and the Establishment has surely taken note that their stranglehold on information is threatened.
There will be more repercussions. Alleged Russian intervention is so far proving to be a rich vein with popular appeal, providing a useful smokescreen.