Category Archives: Britain

Blogs about the United Kingdom

When Britain went fiat and the skies remained above

A former student sent me an E-mail recently and updated me on his progress and his current research project – the history of British banking in the 19th century. He also wanted to draw my “attention to a little known … Read the rest of this entry »

Posted in Britain, Central banking, UK Economy | 12 Comments

The British reality defying the ideologically-based gloom and doom

I last wrote about the aftermath of the June 2016 Brexit vote in this blog – Mayday! Mayday! The skies were meant to fall in … what happened?. Admittedly, it was written just a month after the vote and so … Read the rest of this entry »

Posted in Britain, UK Economy | 9 Comments

The penny drops – WSJ acknowledges UK government can never run out of money

When a News Corp newspaper starts writing articles that reflect the insights provided by Modern Monetary Theory (MMT) you know that progress in the dissemination of those ideas is being made. Even if they don’t get things exactly right. The … Read the rest of this entry »

Posted in Britain, UK Economy | 27 Comments

Mayday! Mayday! The skies were meant to fall in … what happened?

The British Office for National Statistics, which although recently revamped continues to have the most user-unfriendly home page and dissemination service of all the national statistical agencies, published the latest – Retail Sales in Great Britain: July 2016 – data … Read the rest of this entry »

Posted in Britain, Eurozone, UK Economy | 16 Comments

The case for re-nationalisation – Part 2

There was an interesting article written in the London Review of Books (September 13, 2012) by regular contributor James Meek in – How We Happened to Sell Off Our Electricity (you need to subscribe to read it). It discussed how … Read the rest of this entry »

Posted in Britain, Demise of the Left, UK Economy | 24 Comments

Brexit signals that a new policy paradigm is required including re-nationalisation

With the new British Prime Minister now indicating that she will push ahead with Brexit and free the nation from the undemocratic imposts of the increasingly dysfunctional European Union, a view that is apparently ‘poisonous’ to some so-called progressive writers, … Read the rest of this entry »

Posted in Britain, Demise of the Left, Economics, Eurozone, UK Economy | 38 Comments

ECB research shows huge output gap and need for fiscal expansion

Last week, I reported on some claims by Australian private sector economists that the Australian government was deplete of policy tools (“run out of ammunition” was the cute term used among these self-serving characters) and would not be able to … Read the rest of this entry »

Posted in Britain, Central banking, Eurozone, UK Economy, US economy | 5 Comments

Australian election outcome resonates with the Brexit dynamics

Less than two weeks ago, Britain sent a bombshell into the conservative, neo-liberal policy agenda and the narrative that supports it. I have read a lot of comments that the Referendum result was a reflection of racist attitudes towards minority … Read the rest of this entry »

Posted in Britain, Politics, UK Economy | 17 Comments

The British Left is usurped and IMF austerity begins 1976

We left the trail last time with James Callaghan telling the British Labour Party Annual Conference on September 28, 1976 that governments can no longer spend their “way out of a recession” and that the Keynesian approach was an option … Read the rest of this entry »

Posted in Britain, Demise of the Left, IMF, UK Economy | 11 Comments

When journalists allow dangerous economic myths to pervade

Journalists have a lot to answer for in this modern era of constant media reporting across multiple modes of communication. I have previously argued that the trend has become one where journalists are used as broadcasting tools for press releases … Read the rest of this entry »

Posted in Britain, Economics, UK Economy | 18 Comments