I liked this tweet, a lot:
Richard Murphy on tax, accounting and political economy
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“Money, Power and the People” by Christopher Shaw –
For anyone who cares about the future of Scotland as an independent country this book makes for compulsory reading. It’s the story of the struggle of ordinary people of America for a banking system which serves their needs. It is a clear warning for us of what can happen if we don’t take banking reform seriously in the context of shaping Scottish independence. What our banking system looks like is absolutely critical to the success of our currency. If we get this wrong we might as well not bother with our own currency.
After WW2 “Banking politics”, as Shaw calls it, began to fade as the post New Deal and post war settlement led to greater prosperity. In the political vacuum which resulted the bankers regained their power whose influence and consequences we see today……including the fertile ground for Trumpism