Independent, really? With the UK Treasury and Bank of England still in charge?
Throughout the book Aeron explains why this centre-right institution is incompatible with a government that wants to use fiscal policy as the main lever to support an economy. He details how it supports the financial services sector above all else.
The UK Treasury and the Bank of England will pay Scotland's paymasters for at least a decade after we transition to an independent country. In the video, I describe this as "an outrageously dangerous approach". The evidence is mounting to force this administration to change its currency plans.
Throughout the book, Aeron explains why this centre-right institution is incompatible with a government that wants to use fiscal policy as the main lever to support an economy. He details how it supports the financial services sector above all else.
The UK Treasury and the Bank of England will pay Scotland's paymasters for at least a decade after we transition to an independent country. I describe this as "an outrageously dangerous approach" in the video. The evidence is mounting to force this administration to change its currency plans.
SCOTONOMICS: EP 96 Unmasking the “Treasury View” with Professor Aeron Davis
Aeron's book "Bankruptcy, Bubbles, and Bailouts: The Inside History of the Treasury Since 1976" delves into the complex and often secretive operations of the UK's Treasury, a central institution in shaping the country’s economic system.
The narrative is constructed around interviews with over 50 key figures, providing a unique insider perspective on the decisions, successes, and failures that have influenced Britain's economy since the mid-1970s.
This detailed account emphasizes the Treasury's dual image: on one side, a stabilizing force in times of economic crises, and on the other, a contributor to socio-economic disparities, policy mishaps, and growing inequalities. The book highlights botched privatizations, questionable financial initiatives, and a failure to anticipate major economic downturns as significant low points in the Treasury's history.
William asked Aeron about his investigation into the Treasury, and they discussed what the institution of the Treasury tells us about our economy and our view of economics.
SCOTONOMICS Ep 95: The Tyranny of Nostalgia: Half a Century of British Economic Decline
In this compelling interview, William sits down with esteemed author Russell Jones to delve into his latest work, "The Tyranny of Nostalgia: Half a Century of British Economic Decline."
Through the lens of Jones's rigorous analysis, the interview explores how nostalgic sentiments have influenced and, at times, impeded Britain's economic progress over the last fifty years. With Scotland's future at the forefront of the discussion, William and Jones discuss the implications of this economic decline on Scotland's push for independence, examining the potential (Russell less so than William) for a more prosperous future untethered from the weight of British nostalgia. This dialogue is essential for anyone interested in understanding the economic underpinnings of the independence debate and the role of nostalgia in shaping national policy and identity.
SCOTONOMICS Ep: 92: Cannibal Capitalism
Cannibal Capitalism: How our System is Devouring Democracy, Care, and the Planet – and What We Can Do About It. With Nancy Fraser.
Capital is currently cannibalizing every sphere of life-guzzling wealth from nature and racialized populations, sucking up our ability to care for each other, and gutting the practice of politics. In this tightly argued and urgent volume, leading Marxist feminist theorist Nancy Fraser charts the voracious appetite of capital, tracking it from crisis point to crisis point, from ecological devastation to the collapse of democracy, from racial violence to the devaluing of care work. These crisis points all come to a head in Covid-19, which Fraser argues can help us envision the resistance we need to end the feeding frenzy.
What we need, she argues, is a wide-ranging socialist movement that can recognize the rapaciousness of capital - and starve it to death.
https://www.versobooks.com/en-gb/products/2685-cannibal-capitalism
SCOTONOMICS Ep 91: A Basic Income
We will be joined by Jamie Cook, a passionate advocate for Universal Basic Income (UBI). Jamie's work centres around the idea that a guaranteed, unconditional income could revolutionise our social and economic landscape.
With the belief that UBI offers a solution to many modern challenges, from poverty reduction to addressing job loss due to automation, Jamie's insights promise to be both thought-provoking and enlightening. This promises to be a very interesting "battle of ideas" as we delve into the potential impacts of UBI on society.
Jamie brings a wealth of knowledge and an unwavering commitment to exploring how this radical concept could pave the way for a more equitable and prosperous future for all.
Hello all. I hope to see some of you at the Scotonomics Festival of Economics in Dundee next year! Here is a wee highlights reel of some of the speakers appearing across the three days in Dundee at the Scotonomics Festival of Economics. 22nd to 24th March.
Tickets start at only £25 for a day and only £70 for the full festival. You can see the full programme and book tickets here:
https://scotonomics.scot/festival-of-economics/
All the proceeds are going to set up a social enterprise in Dundee as part of our Community Wealth Building approach to the event.
Please do share this with anyone you know who might fancy (or needs!) a refreshed look at how the economy really works.
Where is the economic power? London or Edinburgh?
Play along with the Scottish Government Chief Economist and our Festival of Economics audience. What powers are devolved and what are retained? Full episode available on our Patreon site: https://www.patreon.com/Scotonomics
