The curse of monetarism has blighted the UK for more than 45 years now, and in the light of John Healey's comments yesterday, it still is. That makes this new infographic especially relevant.
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As it always is!
I love the addition of the infographics.
While the best use for Monetarist ideas is to fertilise my garden, it seems to me that it contains an element of MMT in that it attempts to control inflation by controlling the money supply.
MMT does that, but uses taxation. A different task, altogether.
The Magic Money Theory???
As used by Maggie to fight the Argies, by Gordon to bail out Northern Rock, by Cameron to ‘fund’ HS2, and Rishi to buy PPE and furlough?
Did anyone bleat “where’s the money coming from ?”
fantasy politics!
But most importantly, MMT only tries to control inflation through the money supply WHEN and WHERE excessive money supply is the cause of inflation.
These infographics are looking great. Bravo!
Can I just feed back that you appear to be using the lowest resolution infographic in the downloadable PDFs, not the highest — if you’ve got it, flaunt it!
How do I change that? Genuine question
And remember – download speed for general use is key
I’m not sure how you are creating the PDF but if you are grabbing the infographic from screen, make sure you are zoomed in so you grab the highest resolution image. Alternatively, the largest version, at 1024px wide, is Monetarism-final.png – in your WordPress uploads folder.
I have worked out what WordPress was doing. I will be making sure that they are all full size now….
These are so good. Really informative. I didn’t realise that monetarism required governments to control all money creation. Any fool can see that’s going to be impossible in a complex modern economy.
As an aside, I was interviewed for some sort of finance course at City University, London in the early 90s. I was told my outlook (at some point I launched into a youthful, halfbaked anti Thatcher tirade) was interesting as the faculty was staffed mainly with monetarists. Make of that what you will.
Richard, I wondered if you could do one of your Infographics on the production of money, its movement through the economy, collected as savings (debt) and finally destroyed.
Let me think about that
Addition: I am working on it….
Might it be that under-taxing the (very) wealthy contributes to inflation which is then (mis) managed by making the not (very) wealth pay more for borrowing money?
Might monetarism be, at least in part, a camouflage for a scheme for favouring rentiers?
Reading the depressing comments below the latest Larry Elliott article made me want the ability to post a comment with a link to one of your infographics.
Ideally clicking the link would open the infographic as a pdf file in a new tab (I’m using Edge). In this way, I can see it straight away without having to download it, but right clicking on it also gives me the option to Print or Save the file as a pdf. And it would be a great touch if the “https://www.taxresearch.org.uk/Blog” at the bottom of the infographic is clickable for those wanting to find the source.
I know I could just post a link to your blog post which contains the infographic , but the above would be much slicker and ensure the viewer would see the infographic by its own, without any of your words which may potentially cloud/deter the viewers objectivity (depending on their political sensibilities).
I think this would make your infographics readily at hand for posting in the comments section on any online article, making the dissemination of the ideas you present much faster in the web-o-sphere.
Thank you for taking the time to read all my comments , as always.
Our in forgraphic library is developing – guve us a little more time.
But it will not be in the format you suggest: it will be in the downloads section.
You are free to make your own versions though.
You could produce a comic with these infographics. The thinking persons Beano. A standalone paper version or an insert into another publication.
Make them available at airports and railway stations.
Let’s see where they go….
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