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Understanding the Money Creation and Society Debate

Together with colleagues spanning four parties – Michael Meacher (Lab), Caroline Lucas (Green), Douglas Carswell (UKIP) and David Davis (Con) – I have secured a debate on Money Creation and Society for Thursday 20 November. Here’s a quick guide to understanding the debate. First, we have a system of paper or “fiat” money: it exists due to legal mandate as opposed to being a physical commodity like gold. Reserves, notes and coins are created by the state but claims on money […]

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Speech to Positive Money on money and banking

A speech on money and banking given to Positive Money’s conference last October (sorry about the cold!): See also my writing on economics here and for The Cobden Centre.

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Speaking notes from Positive Money conference yesterday

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I opened the Positive Money conference yesterday, explaining the wide range of damaging flaws in our monetary system, how these have emerged and what the range of potential solutions might be. As I have often said, I favour the constitutionalisation of our present fiat money system, followed by the denationalisation of money. Positive Money’s proposals may meet that first step. Michael Meacher spoke later in the day; I am delighted that this important subject has cross-party appeal. My speaking notes […]

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The Conference — Positive Money

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Today, Cobden Centre comrades and I are off to inject some Austrianism into the Positive Money conference. As you can tell from the Cobden Centre’s literature page, we are not afraid to work with other schools of thought — there are significant areas of overlap. For example, from the conference home page: Does the fundamental design of the banking system automatically lead to an unstable, unproductive, unfair and unsustainable economy and society? If the answer is yes, then should we take […]

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