E-posta Eskoziako Shona McAlpine-ri

Dear Shona,

Here Joseba from the Basque Country, ICEC-Euskal Herria.

Hope you are OK.

Here you have something about Scotland and its (economic) independence.

First in Basque, from my blog:

Clear, I do not hope you to read all that stuff, in Basque. Please, don’t try.

The point is that I have been dealing with Scotland independence at least since 2012.

And in my opinion Scotland is no example at all for Catalonia and/or the Basque Country.

Why? You had a big opportunity and lost it. Not all the loss belongs to the voting itself.

You even lost before the voting, lost because you were theorically at a loss.

How could you have managed a hypothetical independent Scoland with the British pound, under the British Central Bank and the British Treasury. Impossible.

If you had won politically, at the voting, you would have been a British colony, at the economic level.

I even dared write a couple of letters, in English, to Kenneth Gibson, 2012.08.10 and 2012.08.16, with no answer at all!

Take a look at them:

Eskoziari buruzko e-posta batzuk, pages 5 to 15

The point is that I used Bill Mitchell’s (mainly) and Stephanie Kelton’s works.

Both of them are MMTers, i.e, they deal with the Modern Monetary Theory (with Warren Mosler, Randall Wray, Pavlina Tcherneva and some others)

This is kind of Chineses to you, but maybe not to Robin McAlpine (a relative of yours?).

I have read the two small books you give me at Azpeitia (“How to start a new country” and “A short guide to starting a new country”)

Robin McAlpine has a good start but… I guess he needs some more information;)

Here the information, really fresh.

Take a look at these two papers by Bill Mitchell and tell him [Robin] to start doing good economics!!!

(Sorry!)

Oh Scotland, don’t you dare! – Part 1

(http://bilbo.economicoutlook.net/blog/?p=39501#more-39501)

and the ones he mentions inside:

I have written about the Scottish issue before, including:

1. Scotland should vote yes in 2014 but only if … (September 27, 2012).

2. Bonnie Scotland – ignorance or denial – either way it is fraught (October 30, 2013).

3. I would be voting NO in Scotland but with a lot of anger (August 18, 2014).

plus this one:

Oh Scotland, don’t you dare! – Part 2

(http://bilbo.economicoutlook.net/blog/?p=39506)

As Mitchell says, in the last work:

In Part 1, I considered their approach to fiscal rules and concluded, that in replicating the rules that the European Commission oversees as part of the Stability and Growth Pact, the newly independent Scotland would be biasing its policy settings towards austerity and unable to counter a major negative shock without incurring elevated levels of unemployment and poverty. (…)

In Part 2, I focus specifically on the currency issue. The Growth Commission recommends that Scotland retain the British pound, thereby surrendering its independence. Moreover, while it is part of the United Kingdom, the British policy settings have to consider the situation in Scotland. Once it leaves, it will still be bound by British fiscal and monetary settings but those settings would be designed to suit the remaining British nations. So if the British government continues with its austerity obsession, Scotland would be forced to endure that end. Hardly, the basis for an independent nation with progressive aspirations.

A good start could be to bring Bill Mitchell to Scotland for a couple of conferences about the economic issues Scotland needs to clarify.

Best regards.

Long Live Independent Scotland!

joseba

PS: Catalonia has similar problems, apart from the big political one with Spain. This is why I’m cc-ing this email to Anna.

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