Hi, Tim Seasons Greetings.
On the post, I do not think it is one of your best.
It says that seeds predicts all of this and then gives a straightforward monetary analysis.
I find this disappointing. I am going to download the resources and look for the correlations you are claiming but which you have not explained here.
One glaring point missing from your analysis, even though you give per capita GDP and Debt figures are that wealth redistribution and increased inequality is not stripped out of your figures.
I have become increasingly persuaded that the precariat is a matter of political Design and not some accident or necessity due to energy constraint realities. I believe it is explained by the oldest cause of want and that is the greed of a corrupted elite.
Since 2008 net wealth of the very top 1% has increased in the UK by better than 185%, the bottom part of society is much worse off. This is of course in solely Monetary measures.
To go some way to adding to the analysis I found this excellent paper at the House of Commons online library the other day.
15. Taxation comprises three fundamental economic parts:
l Creation of the medium of taxation and issue into the economy
l Distribution of the medium of taxation through the economy
l Collection of the medium of taxation
17. Modern taxation systems are still based around the creation, distribution and collection of tokens, but the tokens now take electronic rather than physical form. These tokens are bookkeeping entries in the banking system. The structure of the taxation system and the economy it controls is determined by the rules under which these electronic bookkeeping tokens are created, distributed and collected. Coins and notes are still issued in small quantity but are subsidiary to the banking system’s bookkeeping entries.
19. “Contemporary governments grant the exclusive power to issue the medium of taxation to a state-sanctioned banking cartel. The banking cartel comprises a central bank and private member banks. The central bank is responsible for price-fixing, information sharing, promoting member interests and preventing member defaults. Serving the public interest is not a primary goal of a central bank. The cartel holds the exclusive power to set the price of and issue the medium of taxation. Governments generally prohibit the issue of alternative media for exchange and mandate payments of taxes only in the cartel-issued medium.”
52. Development of the tax system has been constrained by political reality and driven by the demands of vested interests in finance and real estate. The fundamental principles of tax policy should explicitly incorporate the money system and the welfare system. The tax system is not fit for purpose and is beyond repair. It should be replaced by an efficient, neutral and distortion-free system based around clearly defined recurrent payments from owners of land, immovable property and natural resources based on contract law. Means-tested welfare should be replaced by a Citizens’ Dividend distributing the financial surpluses of government arising from such reforms.
53. The transition to a new, principled tax system should be on an “opt-in” basis where people can choose to permanently leave the old system when they can benefit from so doing. The effect of such a transition would be an rapid and dramatic revival in economic performance without battling political headwinds.
54. The principles outlined here fully meet all the objectives of the OECD tax report and the Mirrlees Review. They meet Smith’s canons of taxation and adhere to orthodox and common heterodox academic analysis. They are comprehensible and achievable.
The Author was a Cambridge computer scientist who tragically killed himself a few years back. He also wrote convincingly on carbon-based credits in conjunction with his Georgist Land Value ideas.
Anyway, I thought you might be familiar with Dr Wrigley as he is from you Alma Mater’s home town.
Others here may not be.
Merry Christmas again and I hope you can spell out the explicit data supporting your interpretation of the monetary measures depended upon to make your analysis.
All the best
‘INDICATIONS AND WARNINGS’
Putting together what might turn out to be the last article published here this year has been one of two main items on my agenda. (I’m hoping to slip a third, pre-Christmas article into the list but, should this not happen, please accept my premature good wishes for the season).
In back-to-front order, the second ‘agenda item’ is a much-updated guide to the principles of Surplus Energy Economics, and to the latest – SEEDS 20 Pro – version of the model. The Surplus Energy Economics Data System has now evolved into a very powerful analytical tool, and I plan to make even greater use of it to inform discussions here in the future.
You can download at the end of this discussion, or from the Resources, page a summarised statistical guide to selected EM economies, whose prospects are one of the issues discussed here.
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