David Merrill

economic justice, public finance, Hegel’s philosophy

[William Thomson @Williamgallus]

Warren Mosler took a pop at Burnham-like progressive plans a full 11 years ago. He explains that 'to be progressive' (rather than to just say you are), you must understand #MMT. https://t.co/DyjkiyUNvB

[Alex Scott-Samuel @buzhna]

So sad to hear the ignorance underlying the economic coverage @BBCR4Toady; @bbcnickrobinson @amolrajan, please do your homework and ask the questions that matter about public money *creation*

https://t.co/d8UTMyEpee

https://t.co/yeMOMArpP4

[Prof. Steve Keen @ProfSteveKeen]

Keir Starmer is the sixth British prime minister to resign without finishing his term. Six.

And everyone keeps treating each one as a separate accident.

It is not an accident.

It is a pattern, and I can date it to 1975.

That is when we swapped full employment for neoliberalism. The pitch: deregulate, shrink the state, and growth will be so strong you will not need public services.

We have had 50 years to test it.

Per capita growth fell from about 4% a year to under 2%. Hold the old course and Britain would be 1.35 times richer today.

What grew instead was private debt. Politicians watch the government's books. The danger was building in everyone else's.

In Britain it trebled to 180% of GDP. That money did not build anything. It pumped up housing and a stock market now more overvalued than before the 1929 crash.

Starmer was not uniquely bad. He was just applying textbook economics he probably learned at 18 and never questioned. That is why I do not expect this to stop at six.

For a more comprehensive understanding, please refer to the full video presentation provided in the comments.

#SteveKeen #Economics #Neoliberalism #UKPolitics https://t.co/EXxjv4f4Ut

[Chelsea Ngoc Minh Nguyen @C_NMNg]

Ha Joon-Chang @the_hindu: "I am actually upset with people like Rajan Raghuram and, these days, Dani Rodrik, who mislead developing countries into believing that there is no future in manufacturing, and you can grow on the basis of services." https://t.co/GhHSQdGONQ

[Prem Sikka @premnsikka]

UK on track for the 2020s to be the worst decade since the 1920s.

Govts intoxicated with neoliberalism, growing finance industry, privatising everything, prisoners of the City.

Must jettison neoliberalism, embrace equitable distribution of income/wealth.
https://t.co/XW5HbngMoY

[D Laws 💙 @d_magpie]

@BBCNewsnight Or instead the UK Govt could

End the Full Funding Rule

Set new mandates for the Bank of England

Engage in direct public investment

And none of the above doom-laden nonsense would happen

Should UK Govt serve the needs of rich bosses (via the status quo) or serve our needs

[Simon Forrest @SimonForrest11]

No complaints.
We weren't good enough, but ...
... we will always have Boston. 🏴󠁧󠁢󠁳󠁣󠁴󠁿💙🇺🇸😘

[Shawnee Gregorio @ShawneeMG2]

If it were any other group of people, I’d be outraged, but I just can’t. Not with these lovable fun-centric Scots. They make life a blast😂!

Plus, those kilts DO BE HOT UP UNDER THERE! Gotta cool off the bits!🤣🤣

[The Herald @heraldscotland]

Ian Houston, an American member of the Tartan Army, writes: "As I reflect on time spent among the Tartan Army in Boston, I am reminded that Scotland’s greatest export has never been a product or an industry. It is its people.

"Their warmth, humour, generosity, intelligence, and friendship leave a lasting impression wherever we go or stand.

"The Tartan Army is more than a gathering of football supporters. It is a living expression of community, connection, and goodwill.

"And if the friendships formed, the partnerships announced, and the enthusiasm shared in Boston, Miami, and beyond are any indication, then the best chapters in the story of Scotland’s global connections are still to be written." 👇

𝘐𝘔𝘈𝘎𝘌: 𝘈𝘯𝘥𝘳𝘦𝘸 𝘔𝘪𝘭𝘭𝘪𝘨𝘢𝘯/𝘗𝘈 𝘞𝘪𝘳𝘦/𝘗𝘈 𝘐𝘮𝘢𝘨𝘦𝘴

[David Merrill @DavidMerrill21]

Tue 30 Jun 7:00 PM - 9:00 PM: People's Emergency Briefing screening at Iffley Church Hall https://t.co/9XUcqRUZ7D

[Jostein Hauge @haugejostein]

China has been overtaking the US across a range of global industries because China mobilises *much* more investment into productive sectors of the economy.

It really isn't more complicated than that.

[Isabella M Weber @IsabellaMWeber]

This report is speaking my mind!
It resonates strongly with my essentials framework and the research we have been doing on cost shocks and systemically significant sectors! Let’s hope it’s indeed the new Manchesterism of Andy Burnham!

[William Thomson @Williamgallus]

No mainstream outlet in Scotland has ever been bold enough to publish such a long piece on Modern Monetary Theory #MMT. The Herald on Sunday gave me (pictured), @DEhnts, Dr Alberto Polani and @ProfSteveKeen an opportunity to discuss the MMT lens. 2/5

[William Thomson @Williamgallus]

It's rare indeed that you find a detailed economic analysis in a Sunday newspaper. But when a "Bold new economic theory" gets this kind of coverage (double centre spread running to 4000 words), we can only describe it as an exceptional occurrence. 1/5

[Prem Sikka @premnsikka]

Carbon emissions harm the oceans, climate, food and jobs.

Since 1990, carbon emissions of the UK’s richest 0.1% increased by 53%, bottom 90% cut theirs by 26%.

How will govt save us from the super-rich, make them bear the cost of their pollution?

Watch the Minister's reply.

[Prem Sikka @premnsikka]

Private equity has devoured UK town centres.

It controls airports, seaports, hospitals, care homes, football teams, housing, GP surgeries, vets, dentistry, pubs, restaurants, energy, water and more.

Everything financialised.

What future for the UK?
https://t.co/I0XaUBp0QC

[David Merrill @DavidMerrill21]

@itslegaltender @boston25 What a lovely story.

[Prem Sikka @premnsikka]

Devoured by private equity.

Bernard Matthews
Body Shop
Byron Burger
Casual Dining
Cath Kidson
Claire’s
Comet
Debenhams
Flybe
Four Seasons Health Care
Homebase
Maplin

Thousands of jobs lost, supply chain destroyed, taxes dodged. Yet govts venerate PE.
https://t.co/I0XaUBp0QC

[Christopher @molochofficial]

One week of bars being open past 1am and the people of Boston are acting like rural townspeople at the end of a film where a friendly outsider teaches us to live life to its fullest or overcome our differences, except instead of aliens or drag queens it’s 50,000 Scots

[David McNab @[email protected] @DavidMcNab17]

Now do 47 years of full-on Thatcherite small-state neoliberalism.

Yes we should be trading freely with our neighbours - but trade-led recovery is a fantasy without domestic demand.

The UK’s consumers are broke.

Fiscal rules are killing us.