Tax campaigner and writer Richard Murphy outlines his concerns with Positive Money’s proposals to prevent banks from creating money here. This is our response.
When is a bank not a bank?
Murphy seems to have had something of a conversion on the road to MMT Damascus here.
Richard was quite cross with me when I accused him of straw manning the PM position Here
Why Positive Money is wrong
Posted on May 6 2018
“Your article here Richard is a Polemic it does not honestly state the Positive Money Position but states your strawman interpretation of it. You state your political objections which are perfectly valid but with which others are quite likely to disagree. Politics is like that, Political Economy is like that and the Dismal Science, try as it might to elevate its members to a sort of priesthood, remains the dismal science Thinkers like Tim Morgan are changing that slowly but exchanging one lot of Neo-Liberal commissars for another lot of Post Modern Marxist Commissars, No thanks.
Perhaps this a carryover from your 2015 discussion with Ben Dyson, Ben as you probably know is now at the Bank of England in their Blockchain / CryptoCurrency team
On The MMT side of things again there is much re-treaded rubber to examine.”
And the Arguments all continue ad nauseam.
“Most intellectual progress and comprehension of complex
phenomena cease once the mind deludes itself into
believing it has uncovered a Holy Grail or an eternal truth.
Any meaningful analysis of reality must consider all such
so-called truths as merely tentative expedients.”
-Wilson Bryan Key, Subliminal Seduction