Brexit eta gero behar den erreminta ekonomikoa: DTM

Warren Mosler eta Bill Michell maiz egon dira UK-n, ikus UEU-ko blogean hainbat sarrera…

Azkenak, hemen:

Warren Mosler eta Bill Mitchell Birmingham-en (UK),

Warren Mosler eta Bill Mitchell Birmingham-en (UK) (2)

Britainia Handiko batzuek ongi dakite DTM zer den.

(https://twitter.com/ModernMoneyFact)

Follower of Modern Monetary Theory with objecttive of disseminating the works of Mosler, Kelton, Randall Wray, Tcherneva,, Mitchell, Hail, Hudson, Keen et al

Segida:

ModernMoneyTheory UK@ModernMoneyFact

Thanks @GowerInitiative very instructive.

Phil Armstrong in Conversation with Neil Wilson

The GIMMS team was delighted to host its ‘in conversation’ event in November at which Phil

Armstrong spoke to Neil Wilson. Neil is an expert in finance and i…

youtube.com

2020 aza. 24·

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https://twitter.com/widespreadhaze/status/1339151479723200514

Richard Tye@widespreadhaze

@Rachael_Swindon

erabiltzaileari erantzuten

There has never been and never will be such a thing as “taxpayers’ money”. Sterling coinage is minted by the Royal Mint, sterling notes and electronic accounts are created by the Bank of England and electronic bank deposits are created by commercial banks. No taxpayers in sight.

2020 abe. 16

oooooo

(https://twitter.com/widespreadhaze/status/1342774181755297793)

Richard Tye@widespreadhaze

new-wayland.com

2020 abe. 26

oooooo

(https://twitter.com/tobararbulu/status/1345321220028432384)

An Accounting Model of the UK Exchequer

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(https://twitter.com/tobararbulu/status/1345321731389583360)

An Accounting Model of the UK Exchequer

https://gimms.org.uk/wp-content/uploads/2020/12/An-Accounting-Model-of-the-UK-Exchequer-Google-Docs.pdf

2021 urt. 2

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Neil Wilson: It’s Just Debits and Credits

https://new-wayland.com/blog/its-just-debits-and-credits/

“… when we are doing stock/flow analysis in Modern Monetary Theory (the clue’s in the name) we generally concentrate on the financial subset of the whole balance sheet. Therefore the balancing item on an MMT stock/flow analysis is just a Balancing Liability (or Balancing Stock of Credits if you prefer), not Net Worth as we see in the National Accounts.

It’s important to avoid a “firm analogy” fallacy that is almost as damaging as the “household analogy” fallacy. Currency zones are neither households nor firms, and should not be analysed as such.”

Gehigarria:

Gower Initiative for Modern Money Studies@GowerInitiative

Independent, promoting an understanding of economics & the policy space afforded by our monetary system for social & environmental justice. #MMT #JobGuarantee

United Kingdom

gimms.org.uk

Iruzkinak (1)

  • joseba

    Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1)
    #84 Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1)
    (https://pileusmmt.libsyn.com/84-andrew-berkeley-richard-tye-neil-wilson-an-accounting-model-of-the-uk-exchequer-part-1)
    #84 Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1)
    Jan 20, 2021
    Patricia and Christian talk to the authors of a groundbreaking new study that details the internal accounting operations of the UK exchequer and the ultimate impact of government spending and taxing on the private sector.

    An Accounting Model of the UK Exchequer: https://gimms.org.uk/wp-content/uploads/2020/12/An-Accounting-Model-of-the-UK-Exchequer-Google-Docs.pdf
    (161 orr.)

    Transcript for opening monologue: https://www.patreon.com/posts/46352937
     [Transcript] Opening monologue for Episode 84 – Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1)
    At the beginning there, you heard finance and information systems expert Neil Wilson, who, along with our two other guests this week, Richard Tye and Andrew Berkeley, have produced a groundbreaking new study that details the internal accounting operations of the UK exchequer and the ultimate impact of government spending and taxing on the private sector.
    If this is your first time hearing about MMT, you might want to listen to our first three episodes where me and Patricia talk through the basics in an accessible way, but if you want to dive in here, let’s start with something that’s not controversial to central bank operatives, or to anyone who understands what the word “fiat” in “fiat currency” means, or to just about anyone who’s not the governor of the Bank of England, which is that the currency we use here in the UK, the British pound, is issued exclusively by, or with the permission of, the UK government and if you’re skeptical, fire up your own printing press, print off some ten pound notes and send me a report on your findings when the warden grants you writing privileges.
    The reason that pounds, these otherwise worthless pieces of paper (or, more commonly, electronic entries on a spreadsheet at a bank), the reason they have value, the reason that you and I need to sell the fruits of our time and labour for pounds, and not gold or bitcoin or seashells, is that the UK government demand payment of taxes in pounds, and not gold or bitcoin or seashells – and the government demand these payments expressly to cause the population to need pounds so that they can then hire people to do the things they were voted in to do.
    In order to spend, the government don’t need *your* money, the government need you to need *their* money, of which they have an infinite supply, because at the end of the day, the government spends by changing accounting entries on a spreadsheet over which they have total control – as you’re about to hear.
    Every year, the government spend some money into existence and then tax some of it out of existence. If they spend more than they tax, then that money left over in the private sector is what you and me, and everybody else in the non-government uses to save and transact with, which is great, except some Giuliani-level genius decided to call this number of pounds left over in the private sector “the government deficit”, whereas they could’ve just as accurately have called it “the private sector’s surplus”.
    Calling it a deficit has led to a very unfortunate situation in many democracies around the world, where political parties pearl-clutch about the deficit and then slug it out to see who can kill us with austerity first.
    In the UK, we have a Conservative chancellor fulfilling a sacred obligation to balance the books, opposed by a shadow chancellor fulfilling a sacred obligation to imitate whatever the Conservatives are doing using different language.
    It’s easy to criticise the opposition’s devastating tactic of non-opposition, but to be fair, maybe the critics haven’t grasped the next-level political game being played here.
    As I understand it, when they’re not in power, and can’t bomb defenceless countries, centre-left parties need to use deficit shaming as a way to signal that they are Very Serious People that conservatives can get behind – and what the left – these fair-weather fans of inclusivity and safe spaces – haven’t grasped is that it’s important for conservatives to feel safe and comfortable in literally every space on earth, including all mainstream political parties, and it’s important for them to know that if the actual Conservative party ever decide to quit, there’ll always be a back-up party for them to vote for. So be reasonable and do it their way, so they can go back to guarding statues instead of having to start armed insurrections.
    (…)
    This is part one of a two-part interview, and part two will be out the week after next, (…)
    Thanks as ever for the time you put into understanding MMT – let’s dive in!

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