Report From the Select Committee on Public Monies - 18 Aug 1857

This is a transcript of the 1857 report that lead to the Exchequer and Audit Department Act of 1866, the law by which government payments are both regulated and permitted to this day. Although only five pages long it revolutionised the accounting, audit and payment systems in the United Kingdom.

15 Nov 2021 09:28 +0000 · 17 min · NeilW

UK Borrowed Foreign Currency from the IMF in 1976

The much vaunted IMF crisis in the UK was because the government violated an MMT golden rule: government must not borrow in a foreign currency

29 Jan 2021 09:50 +0000 · 2 min · NeilW

It's the Exporters Stupid

Running an external surplus requires exporters to export. The right to export more than you import has a price. What does that mean on the other side of the trade?

25 Nov 2020 04:07 +0000 · 4 min · NeilW

Post War Banking Policy

From the archives: Post War Banking Policy - Reginald McKenna

3 Jul 2020 08:54 +0100 · 2 min · NeilW

Running a Modern Money Economy

Putting it all together

16 May 2017 18:12 +0100 · 16 min · NeilW

Savings Are an Export Product

Things make a lot more sense when you realise other currency areas love your savings products — a lot

5 May 2017 21:11 +0100 · 6 min · NeilW

Labour Hours and Labour Services

Employment is about buying the former and generating the latter. How does that relate to the Job Guarantee?

29 Jan 2017 14:54 +0000 · 12 min · NeilW

Basic Income: Thief of Time

Basic income is a desire to be paid twice - once self consuming your own hours and once consuming the output of somebody else’s hours

6 Dec 2016 18:40 +0000 · 9 min · NeilW

Job Guarantee: Jobs for the People

How the Job Guarantee solves the matching problem

3 Dec 2016 19:07 +0000 · 2 min · NeilW

This is how You Abolish Tuition Fees

Student debt is another set of debt that isn’t really a debt. So just cancel it all

16 Jul 2016 17:54 +0100 · 4 min · NeilW