John weeks explains how neo-liberalsim causes the rise of fascism. You can read this lecture here
Climate Crisis
Danny Dorling – How the rich fuel climate change
A short, but well done piece by the BBC featuring Danny Dorling. Watch here
EU politics
arte: HSBC – Gangsters of Finance
Since the 2008 crisis, HSBC has been involved in countless scandals: Money laundering for drug cartels, corruption, tax fraud… And yet the international bank escapes justice with insignificant fines. Why are they “too big to […]
Austerity
The Real News Network: Chris Williamson – How Do You Confront Prime Minister Boris Johnson?
Labor MP Chris Williamson talks about how to combat the austerity and right-wing policies of Johnson, and says people should stop worrying about Brexit
Very interesting talk. However, two items of content appear contentious:
1. The talk appeared to favour a returnto fixed, or at least controlled, exchange rates. I find MMT very persuasive, for which floating exchange rates seem to be fundamental. Instead, I believe, it favours controls on capital movements to counter currency speculation. In this context John McDonnel’s fears are unfounded – but then the Labour Party (as with many Left leaning progressive Partys) does not seem to have cottoned on to (or is afraid to admit to) MMT.
2. The idea of a Universal Basic Income has also come in for, what I perceive as substantially valid, criticism – largely from a societal standpoint rather than purely monetary considerations. The proposals for a job guarantee are receiving much more favour.
John Weeks is a founder of Prime Economics. It would be interesting to see, from them, a comprehensive economic manifesto – as comprehensive, to a lay person like myself, as that expounded by Bill Mitchell and Thomas Fazi in their book ‘Reclaiming the State’. Perhaps the upcoming revised Labour Party Manifesto, John alluded to, is that document.
Thank youu for the commet.
A correction – I was not a founder of PrimeEconomics. It was founded by Ann Pettifor and Jeremy smith years before I began to write for it. I am mereley an associated author.
MMT is theoretically unsound and empirically dubious.