As Andrew Bailey of the Bank of England noted yesterday when giving evidence in the House of Commons, interest rates are rising around the world
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Labour has an economic problem – and appointing Minouche Shafik as Starmer’s senior economic adviser will not fix it. Shafik represents the neoliberal technocracy that
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A new commentator left the following comment on this blog after my most recent video. They started with a quote from me: ‘And bonds in
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We put out this short version of this morning’s video this evening. Some might find the short version of use: Keynes vs MMT is one
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Is Modern Monetary Theory just Keynes rebadged? Many think so—but they’re wrong. This video compares Keynesian ideas on borrowing and balanced budgets with MMT’s claim
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The story goes that if Britain were to adopt modern monetary theory, the bond market would revolt. The truth is the opposite. In this video,
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MMT describes how government spending and taxation work in fiat currency economies: no more, and no less. In this video, I explain why critics often
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I took time to think yesterday, as I said I would. The idea I came up with is this: Money is like light. Sometimes it
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Politicians tell us the UK is “borrowing too much” and faces a “debt crisis.” That’s wrong. The government creates the pounds it spends, and what’s
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