As a student I subscribed in the to the IEA's Journal of Economic Affairs. In around 1984 it was relaunched in magazine format as "Economic Affairs". I remember FA Hayek proposing to launch a non-government currency called the Standard.
I’ve just listened to your rebrand and got as far as “the private sector gives us growth”. And stopped.
Your assertion that the only way to obtain growth is by private sector profits is totally missing the point! And it tells me you can’t see further than the profit.
Any private sector company would earn a penny if their turnover was nil! Or their turnover was insufficient. Or they set up ‘shop’ and had no customers or consumers or patrons.
This short sighted view of profit over money and flow is exactly what’s got us in this mess.
I’m all for s small state bring less friction less intervention. But it can’t be small or nothing we need would get done.
I’m all for earning as much as we or you can but unless you accept the realisation that customers and consumers have to have money and the willingness to SPEND that money before turnover can be established your blinkering your view and the truth of the matter in hand!
My Lord, you have to accept that the SPENDING of the government’s £1.5 trillion pounds each year just has to have an impact on the profits and turnover of the private sector!? Surely you can see that??
If it essentially for that amount of yearly Spending by government the private sector wouldn’t have any new money to maintain itself let alone grow!??
I keep telling you in my reply’s that it’s not entrepreneurial brilliance that gives growth. It’s much more simple! It’s the velocity and autonomous flow of money itself that gives us the money to turnover and profit from!
You’re putting the elaborate golden coach before the knackered horse! No wonder you can’t see an answer!
No wonder all you can think of is a smaller state, cuts and balancing the insufficient tax funds to a spending amount! You just don’t get it do you!!??
You can’t get growth from cuts! You can’t get growth from a smaller government SPENDING. And a free market is only going to run if money is in the hands of customers who will spend it!
You are blind to the fact that money is key, lots of money, lots of new money has to be SPENT faster and in a smaller time period than now to grow at all!
Honestly no wonder you never reply to my messages if this is the highest form of thought you can achieve!?
I wanted to engage with you all as I’m a free marketeer and I’m all for less friction. But unless you can see more money had to flow faster and in more weight throughout our hands both private and public sectors then I’m sorry but you’re wasting everyone’s time! Including your own.
No wonder you can’t give the answers to get us out of trouble! If you can’t see the problem that’s causing it just the problems you see on face value then you’re not the thinkers I assumed you were.
Look, of course government SPENDING of £1.5 trillion a year has an impact! And if you lower that then you’re lowering growth even further.
Now, new money isn’t all new money! Most can be existing money that’s not being SPENT by those who have it! And those who have it might not be just in the private sector!!!!!
An awful lot of existing money, not SPENT is in the hands of those in the public sector. In pension funds and wealth funds and banks. But so too is the money UNSPENT in the hands of the private sector not being SPENT in our daily economic productive economy that pays taxes!
That economy is devoid of the money of both private and public sectors where money sits UNSPENT idle unused and hoarded. In banks and wealth funds pension funds and tax havens here and abroad.
So my ‘new’ money isn’t new at all! Just new because it’s not being SPENT in our productive economy.
For goodness sake will you stop with this stupidity.
Our economy is devoid of vast sums not being SPENT. Where to obtain growth we need more money bring SPENT not missing in action!
Come on, start engaging in my effort to get you to see a way out of this mess!
We’re not short of money. We’re just not using enough of it to turnover sufficient amounts to pay sufficient tax for government to have surpluses not deficits!
It’s not rocket science. It’s piggyback economics. You can only get out what you put in. But if we are in a system that allows money to be withheld and not SPENT and the system doesn’t even tax unspent money then, you will never see a path out of this biblical size hole we are digging ourselves in.
For any economy to work at its optimum it needs all its money bring SPENT not an insufficient amount. And I’m not just talking about public Spending oh no! I’m talking about private sector too. All money has to be constantly rotating non stop exchanging of money for work effort for their to be growth!
To say it’s just the private sector that gets growth tells me you haven’t a clue.
I always smile when economists of the past who didn’t have the complete answer for the perfect economy are brought into the argument. As all of them had their opinions before digital banking was introduced.
This is crucial to the perfect economy as at last we have a way of track snd tracing money. It’s now possible to enforce SPENDING in away never before seen.
We now have for the first time in history an autonomous and perpetual ability to ensure flow of money via SPENDING.
Our monetary system is a left over of the past where we just hoped money would revolve. As money had no time limited fate for SPENDING. So as it couldn’t be controlled it wasn’t. It still isn’t.
We tax on SPENDING. Not just vat and duty but income taxes and Nic are as a result of business SPENDING on employees as the trigger for taxes. So as SPENDING is the trigger and our government needs more tax take then one would deduce that increased flow and SPENDING is the answer. So why not now use digital banking to make that happen?
By putting a SPEND by DATE on it government can enforce the increase in SPENDING we need for growth. And get the growth we need for increased tax take to have a surplus instead of a deficit.
Increased flow and increased tax take leads to higher wages higher tax revenue and a better outcome.
That’s not Keynes. He had to ponder without having digital banking.
I replied to a very disappointing and wrong assumption by the author. That only private sector can gain growth. Without seeing that they receive money from government SPENDING ( public sector) of £1.5 trillion pounds into the economic pot and their customers are both from private and public sectors.
Taxation comes from all of us. Not one sector. Even non workers pay tax.
But it’s not that we live beyond our means. It’s that our means haven’t been realised because too much money isn’t being SPENT each month. That’s what’s making us needy for it.
Growth has to come from increased SPENDING of money wherever it is that hitherto hasn’t been SPENT and is still NOT being SPENT. It’s not even taxed! There is no tax on unspent money.
My theory of what should be done is unique. Because it tells on the flow of money as a token of work exchange. Full fair exchange. By all means be rewarded with more wages. But unless it’s SPENT back perpetually and autonomously then no economy can ever work to its optimum for all. Not for the few.
Your comment brings to mind what John Maynard Keynes said in his 1936 General Theory. You clearly have not studied the history of economic thought. All different approaches, not just the post WW2 free market thinkers that the IEA used to publish like Friedman and Hayek.
As a student I subscribed in the to the IEA's Journal of Economic Affairs. In around 1984 it was relaunched in magazine format as "Economic Affairs". I remember FA Hayek proposing to launch a non-government currency called the Standard.
I’ve just listened to your rebrand and got as far as “the private sector gives us growth”. And stopped.
Your assertion that the only way to obtain growth is by private sector profits is totally missing the point! And it tells me you can’t see further than the profit.
Any private sector company would earn a penny if their turnover was nil! Or their turnover was insufficient. Or they set up ‘shop’ and had no customers or consumers or patrons.
This short sighted view of profit over money and flow is exactly what’s got us in this mess.
I’m all for s small state bring less friction less intervention. But it can’t be small or nothing we need would get done.
I’m all for earning as much as we or you can but unless you accept the realisation that customers and consumers have to have money and the willingness to SPEND that money before turnover can be established your blinkering your view and the truth of the matter in hand!
My Lord, you have to accept that the SPENDING of the government’s £1.5 trillion pounds each year just has to have an impact on the profits and turnover of the private sector!? Surely you can see that??
If it essentially for that amount of yearly Spending by government the private sector wouldn’t have any new money to maintain itself let alone grow!??
I keep telling you in my reply’s that it’s not entrepreneurial brilliance that gives growth. It’s much more simple! It’s the velocity and autonomous flow of money itself that gives us the money to turnover and profit from!
You’re putting the elaborate golden coach before the knackered horse! No wonder you can’t see an answer!
No wonder all you can think of is a smaller state, cuts and balancing the insufficient tax funds to a spending amount! You just don’t get it do you!!??
You can’t get growth from cuts! You can’t get growth from a smaller government SPENDING. And a free market is only going to run if money is in the hands of customers who will spend it!
You are blind to the fact that money is key, lots of money, lots of new money has to be SPENT faster and in a smaller time period than now to grow at all!
Honestly no wonder you never reply to my messages if this is the highest form of thought you can achieve!?
I wanted to engage with you all as I’m a free marketeer and I’m all for less friction. But unless you can see more money had to flow faster and in more weight throughout our hands both private and public sectors then I’m sorry but you’re wasting everyone’s time! Including your own.
No wonder you can’t give the answers to get us out of trouble! If you can’t see the problem that’s causing it just the problems you see on face value then you’re not the thinkers I assumed you were.
Look, of course government SPENDING of £1.5 trillion a year has an impact! And if you lower that then you’re lowering growth even further.
Now, new money isn’t all new money! Most can be existing money that’s not being SPENT by those who have it! And those who have it might not be just in the private sector!!!!!
An awful lot of existing money, not SPENT is in the hands of those in the public sector. In pension funds and wealth funds and banks. But so too is the money UNSPENT in the hands of the private sector not being SPENT in our daily economic productive economy that pays taxes!
That economy is devoid of the money of both private and public sectors where money sits UNSPENT idle unused and hoarded. In banks and wealth funds pension funds and tax havens here and abroad.
So my ‘new’ money isn’t new at all! Just new because it’s not being SPENT in our productive economy.
For goodness sake will you stop with this stupidity.
Our economy is devoid of vast sums not being SPENT. Where to obtain growth we need more money bring SPENT not missing in action!
Come on, start engaging in my effort to get you to see a way out of this mess!
We’re not short of money. We’re just not using enough of it to turnover sufficient amounts to pay sufficient tax for government to have surpluses not deficits!
It’s not rocket science. It’s piggyback economics. You can only get out what you put in. But if we are in a system that allows money to be withheld and not SPENT and the system doesn’t even tax unspent money then, you will never see a path out of this biblical size hole we are digging ourselves in.
For any economy to work at its optimum it needs all its money bring SPENT not an insufficient amount. And I’m not just talking about public Spending oh no! I’m talking about private sector too. All money has to be constantly rotating non stop exchanging of money for work effort for their to be growth!
To say it’s just the private sector that gets growth tells me you haven’t a clue.
I always smile when economists of the past who didn’t have the complete answer for the perfect economy are brought into the argument. As all of them had their opinions before digital banking was introduced.
This is crucial to the perfect economy as at last we have a way of track snd tracing money. It’s now possible to enforce SPENDING in away never before seen.
We now have for the first time in history an autonomous and perpetual ability to ensure flow of money via SPENDING.
Our monetary system is a left over of the past where we just hoped money would revolve. As money had no time limited fate for SPENDING. So as it couldn’t be controlled it wasn’t. It still isn’t.
We tax on SPENDING. Not just vat and duty but income taxes and Nic are as a result of business SPENDING on employees as the trigger for taxes. So as SPENDING is the trigger and our government needs more tax take then one would deduce that increased flow and SPENDING is the answer. So why not now use digital banking to make that happen?
By putting a SPEND by DATE on it government can enforce the increase in SPENDING we need for growth. And get the growth we need for increased tax take to have a surplus instead of a deficit.
Increased flow and increased tax take leads to higher wages higher tax revenue and a better outcome.
That’s not Keynes. He had to ponder without having digital banking.
I replied to a very disappointing and wrong assumption by the author. That only private sector can gain growth. Without seeing that they receive money from government SPENDING ( public sector) of £1.5 trillion pounds into the economic pot and their customers are both from private and public sectors.
Taxation comes from all of us. Not one sector. Even non workers pay tax.
But it’s not that we live beyond our means. It’s that our means haven’t been realised because too much money isn’t being SPENT each month. That’s what’s making us needy for it.
Growth has to come from increased SPENDING of money wherever it is that hitherto hasn’t been SPENT and is still NOT being SPENT. It’s not even taxed! There is no tax on unspent money.
My theory of what should be done is unique. Because it tells on the flow of money as a token of work exchange. Full fair exchange. By all means be rewarded with more wages. But unless it’s SPENT back perpetually and autonomously then no economy can ever work to its optimum for all. Not for the few.
Your comment brings to mind what John Maynard Keynes said in his 1936 General Theory. You clearly have not studied the history of economic thought. All different approaches, not just the post WW2 free market thinkers that the IEA used to publish like Friedman and Hayek.
https://www.goodreads.com/quotes/212215-practical-men-who-believe-themselves-to-be-quite-exempt-from