Big government or small? Physics doesn’t care. Why the economy is an electric motor, and why “balancing the books” is the wrong way to drive.
It's Time to Nuke the Bond Market
Why sovereign democracies must dismantle the mythology of ‘bond vigilantes’ to restore political agency
UK Employment Stats - Nov 2025
The number of people in the UK without work that want it
Rachel Reeves and the Great Fiscal Sleight of Hand
Rachel Reeves’ tax hikes are sold as plugging a ‘black hole’, but the real aim may be freeing up resources for public investment, not balancing a mythical household budget
Legal Tender, Debt, and the Institutional Settlement of Monetary Obligations in English Law
Under English law, legal tender is a fading procedural defence, not a debt-discharge mandate, as settlements hinge on electronic bank money
UK Sectoral Balances
Sectoral Financial Balances for the UK as a % of GDP, smoothed over a year
'Under the Bonnet' Book Launch - Slides
The slides from my ‘Thinking like an MMTer’ talk at Warren’s Book Launch event
Fairness on the Frontline
Outdated NHS pay rules are failing resident doctors
MMT and Post-Keynesian Economics: A New Paper on Ontological Differences
Our new paper explores the fundamental disagreements between Modern Monetary Theory and Post-Keynesian economics, arguing they stem from deep-seated ontological differences
The Phantom Trade Deficit
We abandoned the gold standard. So why do we still treate trade as though we haven’t?