100% agreed: the para starting with "For Scotland to be in control..." nails it firmly. In the 2014 referendum my Yes Vote was done throught gritted teeth as the ecnomic policy deployed could never have succeeded and indeed it was the critical factor on which the Yes Campaign foundered. I vividly remember watching the Salmond v Darling TV debate in which Darling wiped the floor with Salmond on the currency/economy topic, at which point I went out for a walk, enraged by knowing that the campaign was lost regardless of the voting outcome. Even with a Yes vote, we could never control our economy and we could never activate the complex process of creating a new state from scratch without begging the UK Treasury to borrow and ultimately repay crippling amounts of sterling. Salmond claimed to have been an economist at RBS, but clearly knew nothing about the operation of a central bank, or the creation of money, or how the macroeconomy actually works.
Do you suppose Salmond has learned by now? BTW, he was an energy economist - there are many types of economists and not all understand how money works in a fiat system. Keynes understood it very well.
I've no way of knowing whether he's learned or not, but I'm sure he knows that debate was a turning point, so I'd hope he might have taken steps to understand MMT and the importance of a Scottish currency and central bank. What continues to concern me is the SNP's apparent wavering on economic/monetary policy. I don't see a conclusive adoption of an 'own currency and central bank' policy, despite all the work put in by Tim Rideout.
And the current SNP leadership continues to ignore the wishes of its members who voted for a Scottish currency and CB in 2019. Yet another sign that Holyrood is, as Ian Murray says, a [colonial] administration.
100% agreed: the para starting with "For Scotland to be in control..." nails it firmly. In the 2014 referendum my Yes Vote was done throught gritted teeth as the ecnomic policy deployed could never have succeeded and indeed it was the critical factor on which the Yes Campaign foundered. I vividly remember watching the Salmond v Darling TV debate in which Darling wiped the floor with Salmond on the currency/economy topic, at which point I went out for a walk, enraged by knowing that the campaign was lost regardless of the voting outcome. Even with a Yes vote, we could never control our economy and we could never activate the complex process of creating a new state from scratch without begging the UK Treasury to borrow and ultimately repay crippling amounts of sterling. Salmond claimed to have been an economist at RBS, but clearly knew nothing about the operation of a central bank, or the creation of money, or how the macroeconomy actually works.
Do you suppose Salmond has learned by now? BTW, he was an energy economist - there are many types of economists and not all understand how money works in a fiat system. Keynes understood it very well.
I've no way of knowing whether he's learned or not, but I'm sure he knows that debate was a turning point, so I'd hope he might have taken steps to understand MMT and the importance of a Scottish currency and central bank. What continues to concern me is the SNP's apparent wavering on economic/monetary policy. I don't see a conclusive adoption of an 'own currency and central bank' policy, despite all the work put in by Tim Rideout.
And the current SNP leadership continues to ignore the wishes of its members who voted for a Scottish currency and CB in 2019. Yet another sign that Holyrood is, as Ian Murray says, a [colonial] administration.