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Sound. Looking at this from a Nozickian view, I would put property rights at number one, whereby other liberties can flow and the state's role -- as a protector of those rights -- can be justified.
Great review Steve. I am new to this platform but enjoy the cut and thrust of debate. I have always admired your principled politics but like all MPs your following of party line is a hinderance to that free thought and expression of right and wrong. We, the general public now view politicians as inept liars, who say one thing to follow a party line and another to themselves. We can see right through that stone face. How they keep blurting out untruths with a straight face, tells me they would say anything if it meant being a further notch up the totem pole. I do feel you tried to navigate that swamp as best as you can so, for that you have my thanks Steve. But,take my advice, call a spade a spade. If a colleague is talking rubbish, don’t hesitate to tell him and us. And stop trying to blame the others if the real blame lies with your party. We see it! And it’s not a good look. You are all less believed than estate agents, door to door salesmen and second hand car dealers! So pass it on…. Do the right thing, say the right thing and mean what you say. It’s so much more refreshing when you do. That said, I would like to help you! Because, you are worth my effort Steve and I know others want you to succeed also. I for one wish you the very best of luck. …. I hear all you say in your review. You are correct in pretty much everything, to a degree, but one thing is missing. The answer we need to our economic problems. Everyone and their dog knows we are in deep. We owe £3,000,000,000,000.00 trillion pounds and counting. Some economists reckon it could be double that! But whatever the position, it’s biblical! …. For decades (mainly your Torry government) we have not had a balanced financial position. Money is spent stupidly and poorly and sometimes fraudulently. Other times they try to uphold the best of our Britishness with welfare, benefits and a wish for a working NHS. But honestly, it’s clear no one really has a scooby doo how to run a nation. Politicians have been poor, inept, lazy and most promoted to a level of incompetence. But!…. I can see a way out. And I want you to be a thinker when it comes to my theory as it’s definitely counterintuitive. So you must think outside of the normal blinkered way most have herded their options up to now. It’s clear to all and dawning on the establishment that whatever they thought would work, hasn’t! No matter what economist, or think tank or monetary policy advisor or scholar you have read or listened to they, say the same things but in different ways. And I fear you may follow such a pattern but, I urge you to ‘clear the decks’ of your mind and just think it through. So here goes, I hope you can follow my thinking. …Steve, unless the government of whatever colour gets the economy working , it will never pay for the needs of the people or the aspirations of any true leaders. Forget economists of the past or the doctrines already exhausted. They are out of date and proved to be a failure. No one has given a clear answer or explanation. Mainly because….. they couldn’t! It’s not for the lack of trying. Every clear brilliant thinker couldn’t square the circle. So I don’t blame them. But modern thinkers? …. I do blame! Because they need to use their own God given brains. But, their obsession and need to read every book under the sun still gets them looking in the wrong direction. If all the authors of the past were clever then surely the odds are that someone would have got it right by now, eh? But no, we still have a mess. So, the one thing we have now that scholars of the past didn’t have, is digital currency and electronic accounts and payment cards! If they were alive today, I’m sure, all would revise their thinking. As now, we can track and trace every penny as long as all the digital money stays in the UK. In house. Thatcher wrongly, took away Exchange Control Regulations in 1979. Thinking, no doubt, that more money would flow in to the UK. But over time that strategy has spectacularly backfired. More flows out!! She sold off the family silver and allowed our industrial leadership to decline to failure. That started our decline into globalism and our debt ridden position now. Post Brexit we can now put back those controls and keep all money in house. We can exchange the old currency and money for a new digital electronic currency. We can see who has it, where they got it and make sure they are entitled to it! In any case we can bring back all our currency. It’s said there is maybe 18-19 trillion pounds in the aether, so let’s get it back! Without it we are stuffed. But, with it we can launch the biggest turn around in fortunes the world has ever seen. Goods can flow but money can’t. Even foreign interests must have a uk account and subject to the same rule. Put a ‘spend by date’ on all digital money, or part of the money at least. This will create a tsunami of SPENDING that will fill the coffers of the exchequer with so much, they’ll think that money tree had just given its first fruit!…as the money rotates with SPENDING tax will be triggered exponentially time and time again as it moves around us all. It will immediately turn this position around. We can do away with all taxes say for VAT which van be easily adjusted as it plays out. So,no more borrowing. No more cuts and no more tax increases and enough money to raise all our expectations. It would be totally autonomous and perpetual as we can track and trace every penny. Those who don’t SPEND or can’t be bothered will have their money taken, by the exchequer, to credit the nations purse. Wages will rise, pensions will rise and can be double treble or more! Benefits can be more also, but more importantly wages can have a clear gap upwards! To show work pays! We can’t have a pension be half a minimum wage again. Or have benefits that pay more than working! No! No more!! And ironically, the rich will be richer! With all that SPENDING they can’t fail to earn more. You see, I’m a capitalist at heart. I want to be able to earn as much as I can. But, I want to SPEND it and enjoy it. And know it will come back in next week. Not worry it won’t! Up to now we have had a ‘faith hope and charity’ monetary policy. Faithfully work and hope you get paid enough! Hope when you have to pay your way, it does come back. And charity if it doesn’t! That’s not good enough for a modern democracy. Steve, it will transform our economy instantly. No taxes other than vat. Spending so business will always have a best chance to thrive and a tax take that’s more than we need! Think of how a government can at last plan properly for the benefit of all. Streamline government. One pension, a fabulous state pension. One bank not fifty! No interest rates to pay as we won’t need to borrow beyond a house or a car and why pay interest? Just pay back the capital each time. As we know we can earn enough. One electric company one gas company etc etc all properly funded by our own efforts off the framework of SPENDING. …To show you in simple terms Steve, I have an equation that represents this simple need. MS=R MONEY multiplied by SPENDING equals REVENUE including Tax REVENUE. No business and no economy can work without two components. MONEY and SPENDING. And no tax can be triggered or collected without both. It’s that simple. And now we can have our cake and eat it. Working back from our needs as a government to take tax receipts sufficient to pay our way, we must calculate the spending that is required divided by the money in circulation to know what is required of our economy. Not like now as we all work with the ‘faith hope and charity’ version! We can be sure of enough revenue. And it’s as simple as MS=R. Have a think and a debate about a real answer and pathway. A new but simple framework for a monetary utopia. It’s clear we can’t go on with their ( the governments) heads in the sand. We need to explore alternative solutions, not just more of the same old cuts, increased taxes or borrowing. At present we are in debt to all those who hold our money out of our daily reach. We borrow more to pay the interest. Just to make the few rich, richer. While we all get poorer. 95% of money is held by just 5% of people. Thats unsustainable and unfair and undemocratic. Why are we borrowing our own money back!!?? It’s total madness. We have a blinkered almost blind adversity to do anything else. Why are we limiting our vision? No wonder we can’t make ends meet? We have 95% of people fighting over just 5% of money! Thats just plain stupid. Please let me know your thoughts ?
Sound. Looking at this from a Nozickian view, I would put property rights at number one, whereby other liberties can flow and the state's role -- as a protector of those rights -- can be justified.
It’s been 2 years since I joined Substack you and Jacob have been amazing supporters and followers thank you 2 very much
Great review Steve. I am new to this platform but enjoy the cut and thrust of debate. I have always admired your principled politics but like all MPs your following of party line is a hinderance to that free thought and expression of right and wrong. We, the general public now view politicians as inept liars, who say one thing to follow a party line and another to themselves. We can see right through that stone face. How they keep blurting out untruths with a straight face, tells me they would say anything if it meant being a further notch up the totem pole. I do feel you tried to navigate that swamp as best as you can so, for that you have my thanks Steve. But,take my advice, call a spade a spade. If a colleague is talking rubbish, don’t hesitate to tell him and us. And stop trying to blame the others if the real blame lies with your party. We see it! And it’s not a good look. You are all less believed than estate agents, door to door salesmen and second hand car dealers! So pass it on…. Do the right thing, say the right thing and mean what you say. It’s so much more refreshing when you do. That said, I would like to help you! Because, you are worth my effort Steve and I know others want you to succeed also. I for one wish you the very best of luck. …. I hear all you say in your review. You are correct in pretty much everything, to a degree, but one thing is missing. The answer we need to our economic problems. Everyone and their dog knows we are in deep. We owe £3,000,000,000,000.00 trillion pounds and counting. Some economists reckon it could be double that! But whatever the position, it’s biblical! …. For decades (mainly your Torry government) we have not had a balanced financial position. Money is spent stupidly and poorly and sometimes fraudulently. Other times they try to uphold the best of our Britishness with welfare, benefits and a wish for a working NHS. But honestly, it’s clear no one really has a scooby doo how to run a nation. Politicians have been poor, inept, lazy and most promoted to a level of incompetence. But!…. I can see a way out. And I want you to be a thinker when it comes to my theory as it’s definitely counterintuitive. So you must think outside of the normal blinkered way most have herded their options up to now. It’s clear to all and dawning on the establishment that whatever they thought would work, hasn’t! No matter what economist, or think tank or monetary policy advisor or scholar you have read or listened to they, say the same things but in different ways. And I fear you may follow such a pattern but, I urge you to ‘clear the decks’ of your mind and just think it through. So here goes, I hope you can follow my thinking. …Steve, unless the government of whatever colour gets the economy working , it will never pay for the needs of the people or the aspirations of any true leaders. Forget economists of the past or the doctrines already exhausted. They are out of date and proved to be a failure. No one has given a clear answer or explanation. Mainly because….. they couldn’t! It’s not for the lack of trying. Every clear brilliant thinker couldn’t square the circle. So I don’t blame them. But modern thinkers? …. I do blame! Because they need to use their own God given brains. But, their obsession and need to read every book under the sun still gets them looking in the wrong direction. If all the authors of the past were clever then surely the odds are that someone would have got it right by now, eh? But no, we still have a mess. So, the one thing we have now that scholars of the past didn’t have, is digital currency and electronic accounts and payment cards! If they were alive today, I’m sure, all would revise their thinking. As now, we can track and trace every penny as long as all the digital money stays in the UK. In house. Thatcher wrongly, took away Exchange Control Regulations in 1979. Thinking, no doubt, that more money would flow in to the UK. But over time that strategy has spectacularly backfired. More flows out!! She sold off the family silver and allowed our industrial leadership to decline to failure. That started our decline into globalism and our debt ridden position now. Post Brexit we can now put back those controls and keep all money in house. We can exchange the old currency and money for a new digital electronic currency. We can see who has it, where they got it and make sure they are entitled to it! In any case we can bring back all our currency. It’s said there is maybe 18-19 trillion pounds in the aether, so let’s get it back! Without it we are stuffed. But, with it we can launch the biggest turn around in fortunes the world has ever seen. Goods can flow but money can’t. Even foreign interests must have a uk account and subject to the same rule. Put a ‘spend by date’ on all digital money, or part of the money at least. This will create a tsunami of SPENDING that will fill the coffers of the exchequer with so much, they’ll think that money tree had just given its first fruit!…as the money rotates with SPENDING tax will be triggered exponentially time and time again as it moves around us all. It will immediately turn this position around. We can do away with all taxes say for VAT which van be easily adjusted as it plays out. So,no more borrowing. No more cuts and no more tax increases and enough money to raise all our expectations. It would be totally autonomous and perpetual as we can track and trace every penny. Those who don’t SPEND or can’t be bothered will have their money taken, by the exchequer, to credit the nations purse. Wages will rise, pensions will rise and can be double treble or more! Benefits can be more also, but more importantly wages can have a clear gap upwards! To show work pays! We can’t have a pension be half a minimum wage again. Or have benefits that pay more than working! No! No more!! And ironically, the rich will be richer! With all that SPENDING they can’t fail to earn more. You see, I’m a capitalist at heart. I want to be able to earn as much as I can. But, I want to SPEND it and enjoy it. And know it will come back in next week. Not worry it won’t! Up to now we have had a ‘faith hope and charity’ monetary policy. Faithfully work and hope you get paid enough! Hope when you have to pay your way, it does come back. And charity if it doesn’t! That’s not good enough for a modern democracy. Steve, it will transform our economy instantly. No taxes other than vat. Spending so business will always have a best chance to thrive and a tax take that’s more than we need! Think of how a government can at last plan properly for the benefit of all. Streamline government. One pension, a fabulous state pension. One bank not fifty! No interest rates to pay as we won’t need to borrow beyond a house or a car and why pay interest? Just pay back the capital each time. As we know we can earn enough. One electric company one gas company etc etc all properly funded by our own efforts off the framework of SPENDING. …To show you in simple terms Steve, I have an equation that represents this simple need. MS=R MONEY multiplied by SPENDING equals REVENUE including Tax REVENUE. No business and no economy can work without two components. MONEY and SPENDING. And no tax can be triggered or collected without both. It’s that simple. And now we can have our cake and eat it. Working back from our needs as a government to take tax receipts sufficient to pay our way, we must calculate the spending that is required divided by the money in circulation to know what is required of our economy. Not like now as we all work with the ‘faith hope and charity’ version! We can be sure of enough revenue. And it’s as simple as MS=R. Have a think and a debate about a real answer and pathway. A new but simple framework for a monetary utopia. It’s clear we can’t go on with their ( the governments) heads in the sand. We need to explore alternative solutions, not just more of the same old cuts, increased taxes or borrowing. At present we are in debt to all those who hold our money out of our daily reach. We borrow more to pay the interest. Just to make the few rich, richer. While we all get poorer. 95% of money is held by just 5% of people. Thats unsustainable and unfair and undemocratic. Why are we borrowing our own money back!!?? It’s total madness. We have a blinkered almost blind adversity to do anything else. Why are we limiting our vision? No wonder we can’t make ends meet? We have 95% of people fighting over just 5% of money! Thats just plain stupid. Please let me know your thoughts ?