I wrote about Trussonomics on Novarmedia yesterday:
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It is good to see you on Novarmedia.
I hope that they ask you to give them more of their time.
Oh for a reinvigorated Left……………………….
From last night’s independent
Former US treasury secretary Lawrence Summers said the UK’s fiscal policy was based on “naïve, wishful thinking supply-side economics” and that “Britain will be remembered for having pursuing the worst macroeconomic policies of any major country in a long time”.
Summers is not a left wing economist either
He also claimed this was modern monetary theory, so I wouldn’t place too much emphasis on what he says, because that is nothing like modern monetary theory
He is not the only person who seems to think that Trussonomics has something to do with MMT. Indeed, a few people seem to be under the impression that MMT has now been “proved” to be wrong.
And the link could not be more remote
I don’t place much importance on Mr Summers’ statements but the quote seemed a powerful rejection from a Conservative economist.
Where does Truss go for support? Maybe the Tax Payers Alliance? (Irony )
Trussonomics – how much has it cost us so far? A masterpiece of data visualisation. Keep scrolling.
https://kamikwasi.tax/
There’s another model that may lie behind Truss/Khazi’s thinking. In their business world, companies are loaded with debt which is used to buy back shares or distribute unjustified dividends.
Meanwhile the kind of investment in the business which would increase productivity and growth – skills, R&D, technology – is minimised along with wages for most workerrs.
That now pretty much reflects their approach to the whole country,