The Monster behind Debt and Deficit: The Great Vampire Squid.
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The Monster behind Debt and Deficit: The Great Vampire Squid.

Utterly dismayed by the Coalition Government’s attempt to put into law the obligation to reduce the structural deficit by 2017-18, I thought I would repost the BBC’s excellent explanation of the difference between all the types of debt in the UK that the politicians talk about. http://www.bbc.co.uk/news/business-25944653 Basically, “the debt” is the running total of … Continue reading

PhD

Research – What?

In short, I am interested in how we make the banks work for ‘us’. By ‘us’ I mean society as a whole, and over the long term. In order to do this I need to understand what banks are for, which means I need to understand what money is, and to understand money I need … Continue reading