Is ‘economic activity’ always a good thing? The banks hit by the bonus tax have raised the spectre of lost incomes and tax revenue if they choose to relocate away from the UK. The British Broadcasting Corporation (BBC) has recently sought to justify the licence-fee by calculating the revenues its commissioning generates for independent production […]
Category: Money and Banking
I wrote a rather splenetic article for the Guardian Comment Is Free website last month. Subsequent events have, I guess, not really made me feel less angry!
I’m interested to see that the Real World Economics Review (an e-journal for heterodox economists) now has a blog. They already have some interesting contributions, and I hope fertile discussion will follow!
Money and Credit in 2050
(This is a summary of an essay I wrote in 2000!) It still seems relevant. The full document is here (pdf 36.8kb). By 2050 money in its current form as non-specific value will have been replaced by credits for specific future goods and services. These credits will be traded in a sophisticated barter network. This […]
Banks are returning to profit. The new chief executive of the taxpayer-owned Royal Bank of Scotland complains that We sometimes feel as if commentators variously want us to go back to over-lending, to operate on a ‘not-for-profit’ basis, to never entertain a client and to offer employment conditions that deter the best and brightest. All […]