The Fiddlers’ Rally

Nero’s performance on the roof of his palace while Rome burned around him was not recorded for posterity. We have no idea what tunes he played or if he had any talent as a musician. The current leaders of the world will not be so fortunate if our species, two thousand years hence, is blessed…

Universal Sustainable Prosperity

The 2019 Institute for Public Policy Research Economics Prize posed the question: “What would be your radical plan to force a step change in the quality and quantity of the UK’s economic growth?” This was my response.   Growth For Growth’s Sake? I like your question. The quality of economic activity is habitually ignored by…

For Those Who Still Don’t Get It . . .

… THE GOVERNMENT DOESN’T NEED TO TAX OR BORROW TO PAY FOR THE NHS, OR FOR ANYTHING ELSE, EVER! (sorry for shouting but some people really haven’t been paying attention and this is very, very important). Once again, this is how it works. When the government spends, it spends new money. This new money is…

The Armchair Inflation Fallacy

“Zimbabwe.” That’s the favourite one. Sometimes backed up with “The Weimar Republic.” Galloping inflation. That’s what you get when the government prints money. Swiftly followed by economic collapse. Guaranteed. Anyone with half a brain knows that. When armchair economists are finally forced to admit that there is a magic money tree,¬†which government can use to…

Labour Needs To Tell The Truth About Tax

If the UK has another general election this year (or next) Jeremy Corbyn’s Labour Party will lose. Again. In their euphoria at outperforming everyone’s expectations in the election just past Mr Corbyn and his merry crew appear to have overlooked the fact that they polled the best part of a million votes fewer than the…

The Magic Money Tree

Last night in a debate hosted by the BBC Amber Rudd (Home Secretary of the current UK government, Conservative, desperately scrabbling to win a general election that she thought was in the bag on the day it was announced) repeatedly accused Jeremy Corbyn (current leader of the opposition, Labour, getting dangerously close to making fools…

A Breath Of Fresh Air

A year ago I wrote that “Labour’s *New* Economic Strategy Makes Me Want To Scream”. With frustration, that is, not delight. Last November John McDonnell, Labour’s shiny new shadow chancellor, was telling us that diversification, innovation and public investment were going save us from the dead-end of Tory austerity. Mr. McDonnell appeared to be as…