How can we develop regional economies in the face of classical economics tendency to treat national economies in aggregate? primeeconomics.org/articles/the-s…

Almost as though saving doesn't equal investment and supply doesn't create its own demand. theguardian.com/business/2020/…

Because it's mainstream analysis it offers nothing insightful beyond mathematical truth that any deficit is sustainable with interest rates low enough. You still have an irrelevant theory of how interest rates are determined so you can't offer anything on fiscal sustainability.

If Arcadia had worker-elected directors they would not have permitted neglect of the pension scheme and would have sought early resolution. Just now, in the UK House of Lords, I urged the govt to legislate to create worker directors for large companies. Govt is not listening.

Sadly the history of capitalism is enjoying far more attention in the US than in the UK. In large part this is because NSS obsessed History departments doubt the appetite for historical engagement with economic ideas and economics, wrongly we would argue.

The role of pensions funds in contemporary capitalism is vexed. On the one hand, they provide substantial investment funds to large firms floated on the stock market. On the other, if the firms associated with the fund goes under its contributors get next to nothing.

'Keynes’ work showed that there was a permanent role for government investment, as business would always invest less than it should because of uncertainty.' - Mangles Keynes, who addressed lack of confidence in a downturn, not permanent spending. bit.ly/3oh1uFt

So #austerity is back in the news. Time to wheel out Mark Blyth's explainer again: youtube.com/watch?v=go2bVG…

The economy is not like a household budget. Analogies like 'maxing out the credit card' are inappropriate

Today we've published a letter from 24 leading economists, calling on the BBC to avoid using these analogies when reporting on the economy
ippr.org/blog/economist…

Very important letter from 24 economists convened by Carys Roberts IPPR explaining why household analogies like 'maxing out the credit card' misrepresent the economy and the BBC should avoid them. thetimes.co.uk/article/bbc-mi… 1/2

It's interesting how Bitcoin advocates portray the 'currency' as youthful and progressive (hence hijack of Rashford) when it's really about a sad devotion to the reheated remnants of the gold standard. theguardian.com/money/2020/nov…

Should the government be planning tax rises and public spending cuts in the wake of the #pandemic ? Professor Roger Farmer of Warwick Economics tackles the question in this piece for Economics Observatory. coronavirusandtheeconomy.com/question/shoul…

I should have added the source directly: Dr. Steve Keen tandfonline.com/doi/full/10.10…