@Scotonomics1

William Thomson https://xitter.cf/t.co/ZXcAI9hSnW

 Scotland
patreon.com/scotonomics
Joined May 2021
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If you want to keep following our thoughts, follow @Williamgallus and join William on patreon.com/scotonomics. We are out of here end of March.
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It’s true that fascists used price controls but so did Allies during WWII. Price controls were key in Roosevelt’s arsenal of democracy. Price controls are an economic policy tool. Like taxation or fiscal policy they can be designed in good or bad ways. 🧵
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If people don’t agree with the prescriptions of mainstream economics, too many economists declare them incompetent. That’s exactly the anti-democratic attitude I’m examining in Anti-fascist Economics!
RBe
@RBPunditAug 18
All this tells me is that 75% of Democrats, 62% of Independents, and 54% of Republicans don't know what "price controls" means.
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Without a more compelling vision for economic renewal, Andy Burnham will struggle to succeed where his predecessors have failed, our co-director @L__Macfarlane argues in @openDemocracy. Read the article in full: opendemocracy.net/scotland-h…
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Pretty good #MMT article in The Herald. “Amid financial and political crisis, a fringe movement within economics called Modern Monetary Theory is starting to gain traction.” Full article here: web.archive.org/web/20260621…
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L'indépendance des banques centrales est un problème. Pour transformer massivement l'économie, il faut reprendre le contrôle démocratique sur ces banques. Daniela Gabor, économiste
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The planet is burning. Energy prices are rising. The job market is under threat, and it’s never been harder for young people to get a job. But there is money for billionaires' mad projects. Nothing can justify this. bbc.co.uk/news/articles/cvgz…

Blue Origin rocket explodes into huge ball of flame on Florida launch pad

Amazon billionaire Jeff Bezos, who founded Blue Origin, said it was a "very rough day".

bbc.co.uk
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We can't do 'good' in the economy, without a theory of what 'good' looks like. The how matters as much as the what. How we relate to each other, how we value each other, how we work together, how we govern our economy — these are not secondary questions. They define whether we actually reach collective goals. At @HowToAcademy next week discussing my new book, The Common Good Economy, with @MatthewdAncona. Tue 2 June | 19:00-20:15 BST | St. Martin-in-the-Fields, London | Link in next post
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Scotonomics retweeted
Ewan Gibbs@ewangibbsMay 25
Tens if not hundreds of thousands of oil and gas workers lost their jobs in the decade after the 2014 price crash while the Tories were in power. These skilled workers were discarded, not planned for and often left Scotland to work abroad. We have all lost out as a result.
Alex Thorburn@AlexThorburn2May 24
North Sea workers need protecting from the SNP and Labour 👷‍♂️❌🟡🔴 Only @DLumsden_MSP and the @ScotTories can be trusted to stand up and protect Aberdeen’s oil and gas industry 🛢️✅🔵
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I was very lucky to spend time with @RichardJMurphy in Edinburgh in March. We had 70 mins exploring Richard's economic lens. It is a fascinating interview. Available now for FREE from @ScotEconFest YouTube channel. youtu.be/peEiERqwTH4
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Scotonomics retweeted
John Harvey@John_T_HarveyMay 16
The announcement for my talk in London (June 8 at King's College-Waterloo)--really looking forward to it! kcl.ac.uk/events/explaining-…

Explaining Historical Business Cycles Using Keynes and Kalecki | King's College London

A lecture by John Harvey of Texas Christian University.

kcl.ac.uk
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Shock therapy doing what it’s designed to achieve: creating a valley of tears for workers and industries.
Financial Times
@FTMay 15
Argentina’s president Javier Milei is facing his toughest moment yet. His approval ratings have fallen sharply in recent months, the main reason is the economy, explains the FT’s Ciara Nugent. ft.trib.al/WBCyJVc
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Alicia Gerardo@TheEconRebelMay 15
A great explanation of the post-Keynesian conflict theory of inflation by Prof. Ryan Woodgate! How Conflict over Distribution Fuels Inflation - The Conflict Theory of Inflation Explained: youtu.be/YXvkHv64iJ0
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We keep being told that bond markets may veto democratic choices, but that is not fiscal responsibility: it is the normalisation of financial power over elected government. The real question is who democracy is meant to serve. Is it people or money? theguardian.com/business/202…

‘There’s a risk of another Liz Truss moment’: City raises spectre of bond market meltdown again

As Keir Starmer’s leadership totters, investors warn a Labour leadership contest ignoring public finances and market realpolitik could be disastrous

theguardian.com
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The bond market is being treated by the media as if it has a veto over any Labour move to the left. The media are, then, complicit in the whole conspiracy to make sure democracy cannot deliver what people want and need so that the wealthy might gain. bloomberg.com/news/articles/…

Why the Bond Market Looms So Large Over British Politics

The cost of long-term UK government borrowing has touched the highest in almost three decades as speculation swirls over the future of Prime Minister Keir Starmer following his party’s heavy losses...

bloomberg.com
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Why I won’t stop explaining economics youtu.be/aZZBcHWF7Ug?si=nArS… After writing 25,000 blog posts, I am not giving up yet
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Scotonomics retweeted
ModernMoneyLab_EU
@mml_europeMay 3
Inflation is a real limit on what governments can do. MMT takes it seriously. But idle workers, empty hospitals, crumbling infrastructure: those are also real costs. Ignoring them to chase a budget number isn't prudence. It's waste. #MMT
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Reform is offering a false alternative, but they have a semblance of popularity due to the fake leftism of Scotland’s “progressive” parties. Neoliberal economics has undeniably failed, yet our politicians still cling to it. bylines.scot/opinion/reform-…

Reform Scotland: a false alternative – part two - Bylines Scotland

Failures by Scottish and UK governments have given Reform space to flourish, but its platform is based on the same failed system

bylines.scot
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Part one of my scrutiny of Reform’s anti-establishment narrative in the run-up to the Holyrood elections. bylines.scot/politics/reform…

Reform Scotland: a false alternative – part one - Bylines Scotland

Reform’s claims to offer something fundamentally different to the ‘establishment’ parties do not stand up to scrutiny, nor do its policies

bylines.scot
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Hello all. We are closing down scotonomics and won't be on this channel much longer. Follow @IndyAnatomist Kairin van Sweeden and @Williamgallus William Thomson here.
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NEW: What’s driving Scotland’s cost-of-living crisis? Households have been squeezed by a pincer movement of weak wage growth + rising prices. Our new @FutureEconScot deep-dive on the cost of living 🧵 futureeconomy.scot/posts/488…
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