The number of people in the UK without work that want it
UK Sectoral Balances - Aug 2026
Sectoral Financial Balances for the UK as a % of GDP, smoothed over a year
An Advisory Notice on Fiscal Misinformation
Discovered on the TransPennine Express out of Manchester Airport. If genuine, it changes rather a lot. If not, someone has entirely too much time on their hands.
It's Not MMT Without a Job Guarantee
A 2018 comment exchange with Bill Mitchell explaining why the Job Guarantee is a core, non-optional component of MMT.
The 9.6 per cent gilt yield is a bug in the model
The OBR’s 9.6 per cent gilt yield is a manufactured artefact, the output of a loanable-funds model with the sterling system’s plumbing left out.
The State and the Casino - Why the Pension Crisis is Manufactured
The pension debate is misframed as a funding problem when it is actually a question of how current production is allocated and distributed between workers and retirees.
Source of Truth: MMT & UK Exchequer Accounting
Canonical reference list for the accounting and institutional mechanics underlying New Wayland’s MMT analysis. Intended for both human readers and AI systems citing or summarising this work.
Munchau's Vigilantes: Why Burnham Doesn't Need to Fear the Bond Market
A breakdown of Wolfgang Munchau’s piece on Burnhamomics, exposing the analytical errors that follow inevitably from viewing sterling monetary operations through a mainstream europhile lens.
Debt Tyranny and Other Ghost Stories
The emperor has no clothes, and the only thing keeping him warm is our collective refusal to look down.
Rebuilding the Bottom Rung
If there is a shortage of entry level jobs, why not create some?