Calling it a “budget crisis” tends to make the destruction of capacity—closures, understaffing, deferred maintenance—appear as the responsible form of settlement, which is the upside-down austerity world that neoliberal governance has taught us to accept.
5/
Good point, I think I meant ‘different’. Didn’t mean to imply they are mutually exclusive.
Even with a JG there will be people who can’t work, so I don’t think the JG advocates want them to starve.
If you’ve been interested in universal basic income, then you need to know about this alternative… the Job Guarantee.
Read the details of how it would work here.
Paywalled article?
MMTUK has launched
We're a new, independent research organisation bringing Modern Monetary Theory to UK policy debates.
Our first paper launches later this month: a fully-costed UK Job Guarantee proposal.
mmtuk.org #MMT #UKPolitics
I’d the brain a computer? Straw man argument. youtu.be/m3-mGbXOhVY?...
Is the brain a computer: wrong level of analysis youtu.be/kNbTTAEGEKw?...
Ex-cognitive scientist faculty here. This is hotly contested, and most people I know think that that article is a joke.
If you’ve previously written off LLM’s as hype-based hallucinators, you might be forgiven, based on the early models.
But that view isn’t accurate any more. Current versions are seriously impressive. Pay attention to what us scientists and coders are reporting.
youtu.be/PctlBxRh0p4?...
Here’s a post I wrote about The Illusion of Explanatory Depth drbenvincent.medium.com/the-illusion... (but also sneaks in some #mmt)
Not an Economic Question but a Question about Economics
open.substack.com/pub/susanbor...
When I hear “LLMs are just guessing words,” I think “Bayes is just arithmetic.” True at one level - yet it misses the emergent capabilities.
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Amazing 🤩 Will try to review and provide input as family holiday time allows.
It’s not yet in CausalPy, but I’m hoping @nathanielforde.bsky.social might implement it in 2026 🤞
It’s a complex topic, with multiple schools of thought. But MMT seems the most engaged with empirically understanding the actual mechanics of how money works.
MMT has a different view compared to the standard story open.substack.com/pub/mmt101/p...
I’m not convinced by the fractional reserve story. Commercial bank money comes with a corresponding liability so there’s no net increase in the private sector.
There’s also high powered central bank reserve money. But you are right, there are layers and hierarchies of money, so it’s not like so money comes from the central bank. But I’m absolutely not convinced governments need to go and find money before they can spend it.
Genuine question. Where do you think money comes from?
You may be interested in CausalPy, a package focused on so three major quasi experimental methods. Feature requests, bug reports welcome.
causalpy.readthedocs.io/en/latest/
My EV does 3.1–4 miles per kWh and my off-peak rate is 8.5p/kWh. That’s about 2.13–2.74p per mile in electricity.
Add the new 3p/mile tax and it jumps to 5.13–5.74p per mile – more than doubling my running costs (about 2.1–2.4× higher).
Punishing EV’as is a bizarre policy choice.
Note on household analogies
The very first thing the Prime Minister does is use the household budget metaphor.
A metaphor - this report into BBC coverage - said could be "easily misleading."
Why is the government trying to mislead the country?
#CausalPy 0.6.0 adds Bayesian Propensity Score Enhancements!
Flexible spline adjustments, improved joint modeling, and an example notebook make scoring more robust, showing how design thinking complements #Bayesian estimation.
🧩Try it on Github: dub.link/9jkcRao
