The better MMT economists are very keen on pointing out that the limit on government expenditure in a fiat economy is not taxes or bond sales but /inflation/. You can (and possibly should) print as m… (View Post)

One of the reasons government debt is cheaper than corporate debt (most of the time) is that government debt doesn’t suffer from cliff edge liquidity risks. Ironically, the ability to print in order … (View Post)

Labour also spent fourteen years deriding austerity as a deliberate choice when it is was a fiscal reality/necessity and now they are delivering austerity means their credibility is taking a hit. I d… (View Post)

And yet for all those real difficulties the UK managed 2.5% GDP growth per year over the decade. A growth rate which seems to be completely out of reach for the UK in the modern world. (View Post)

One would usually assume this to be the case, yes! As a thought exercise, putting the best possible gloss on Starmer’s statement: you could imagine a new government expecting the Treasury to have som… (View Post)