I had a number of appreciative comments for my deconstruction of an article on modern monetary theory in The Guardian, which I published in Saturday, but I admit I was especially pleased by the comment from someone called Richard Payne who has never commented before and who said:
I am a bit in awe of this blog which often takes me to edge of despair then by patient and clear analysis prevents me falling and provides glimpses of hope. Deep gratitude for your (hopefully) indefatigable work.
I admit that there are moments when I am also in awe of this blog. When I started in 2006 I never imagined that it would grow as it has or that it would last for more than 15 years.
They have been more than 19,000 posts and almost 23 million reads in that period. This year will see about 2.1 million reads, the third biggest in its history. 2020 was the biggest because of Covid, and 2017 the next, which was heavily election and Brexit driven.
But away from the stats, what I never anticipated was the number of comments that would be received, which vastly outnumber in a very real sense the contribution that I make. There have been more than 150,000 of these now, excluding my own. PSR tops the commentators' list but there are a significant number of commentators who have now contributed more than a thousand times, which is not to undervalue those who only contribute occasionally (the trolls apart, that is, and I have had to learn the importance of editorial freedom, including the right to delete, as a result of running this blog).
However, what I really did not appreciate when I began what I thought would be a blog almost entirely about tax, with a little bit of economics and accounting thrown in, was that what would actually result would be a space in which the search for a more just society could be pursued.
I often wonder what it is that makes me want to get up almost every morning and write several blogs before turning to what I call the day job, which is definitely related, but different. The only answer that I can give is that I genuinely believe that we can do better. I suggest that by carefully thinking about the options that are available to us whilst mixing in some empathic concern for others that a better politics, a better society, a more just world and so a better place to live can be created.
I admit that I worry about the world that we live in. There is much to worry about. However, at the end of the day I have faith that people do want to live in a better way. I'd like to think that this belief is what really permeates into my writing, because hope is what this blog is all about.
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The woeful performance of the Guardian/Observer as a ‘progressive’ platform (evidenced over the weekend no less) as well as the other media is what leads me to being here.
In my view, this blog and a few others are doing a philosophical equivalent of what those who profited from the 2008 crash were doing – not accepting so-called facts at face value and digging deeper to reveal significant truths.
That digging around in CDO contracts meant that a certain number of people made millions out of debunking the lies that supported the MBS market – a market that through greed was always going to fail.
I think that this blog genuinely enriches the debate and knowledge about money and tax by going back to its origins – origins that have been deliberately obscured by history and vested interests.
Some might say that those who come here are just no better than those who flock to QAnon and loads of other sites.
I totally disagree.
Simply because we are mired in thinking that has ran out of road (Tim Snyder’s ‘inevitability politics’) or TINA and some new ideas (that are actually old and well tried ideas) need to be tried or put to work again for the benefit of all.
The fundamental question remains: why are we not trying these new ideas or revisiting old ones that are proven to have contributed positively to the creation of society as we know it? Even the ‘end of history’ writer himself France Fukuyama acknowledges this in his more recent books on the origins of political order.
Satyajit Das and Nick Cohen are wrong: There is a role for Government in society and that Neo-liberalism does exist and it not a bogeyman created by the Left – no matter how many writers write a new book stating that Neo-liberalism is not as influential as is made out.
If Cohen and the Centre-Right or soft Left or Greens cannot deal with the technicalities of money creation, they they really shouldn’t be saying anything at all and are best shutting up and fucking off. It’s the only game in town I’m afraid because again, it’s simple: we’ve seen what a lack of money has been doing to society – a lack of money that is also a mis-allocation of it as a resource, as a utility to get things done. Only the rich it seems are entitled to that utility. And that is wrong. And this enabling of this mis-allocation is also the big dirty lie behind Neo-liberal ‘theory’.
Why can I say this? Why, through the lineage of ideas – that’s why.
Von Hayek was avowedly anti-state having seen the rise of Nazi Germany, and also had rather partisan views on human nature that his theories completely neglected to include; cut to Margaret Thatcher who further castrated State power by saying that Government money was ‘tax payers’ money (completely ignoring hundreds of years of fiscal history and reality as explored by Christine Desan for example) and then think about Tory austerity from 2010 predicated on a mixture of low tax theory and that the Government (the country no less) is indebted to some mythical God-like banker and has to pay back its bailing out of the private banking system before looking after people. In other words, Governments are weak and useless.
To me we are living in a perfect storm of lies and deceit. Except here and a few other places. That’s why I’m here – because I want to hold my head up with my eyes wide open. I never gave anyone – politician, economists, whatever – permission to lie to me or my family, friends or community. But that is what is happening and we saw it again this weekend. The same tautology – there is no other way, we have to make sacrifices, our social security systems are dragging us down, there are too many rules blah blah blah, only a ‘vibrant’ private sector can save us – blah blah, blah.
Thanks PSR
I can only reciprocate Richard Payne’s comments concerning this blog and the excellent comments, e.g PSR above. Some light at the end of the tunnel for those of us who can become very despondent with current politics and economics.
I think Greens are gradually coming round to understanding money creation, or are certainly open-minded about what investment is needed and how to raise this for vital policies on climate change and social progress.
Indy bloggers are all that are holding the lines in the great fascist battleground of our minds and new media.
You and us, can prevail as all guerrilla civil wars do.
We can do no other. Except get the kids to grow up real quick and join the fight sooner rather than later.
That means good information.
That means you.
That means us, sharing it with others.
It is hard but TINA.
Onivar!
I’d better keep waking up then…
It is why I worry about losing Covid
Agree with all the sentiments here and yet again my thanks to Richard for his immense contribution. Providing insights and provocations, and ‘managing’ the debate.
I think of this as like a back room at a pub where I know I can go and learn from similarly (but not identically) minded individuals and debate issues in a way that happens in few other places. That said there are some great podcasts and alternative sources like ByLine Times to complement and inform debate.
Byline is great
I also happened to have a pub like that…but not going right now
Well said Richard. I share your concerns but also your hopes.