I was in St. Albans last night, speaking to a gathering of wonderful people, organised around a largely Christian community – Just Community – who had all come out on a freezing January night to listen to four people discuss, money, credit, debt finance and economics. Was proud to be on the platform with an old friend Stephen Rand of the Jubilee Debt Campaign; with John Christensen of the Tax Justice Network , and a powerful campaigner against the fraudulent and corrupting power of tax havens…and who by the way, advised and now works closely with Nicholas Shaxson, author of “Treasure Islands” . Finally John Featherby, a City of London lawyer, and author of ‘The White Swan Formula‘ spoke in defence of his colleagues in the City.
Thank you to the keen and generous audience for your sustained attention….I talked a lot about money, and am not sure that my exposition was entirely clear….so thought that I would remind readers of a piece I wrote earlier, which is currently posted on the Advocacy International website…and which outlines things a little more clearly. It’s called ‘Women talking macroeconomics’, and I hope will be helpful to those who came away from last night’s meeting more puzzled than enlightened….
Readers might also be interested in this light-hearted piece from the Real World Economics Blog…on Why Money? …It’s a well-deserved attack on the micro-economics profession, who exclude money from their analyses…or regard money as ‘neutral’..Micro-economists are dominant, both in university departments, but more particularly in banks and other financial institutions….Which goes to explain why so many of these institutions had so little understanding of money/credit, and in particular of bank money, and of what they were doing with it….And why they turned a blind eye to the gigantic credit bubble from which banks profited so immensely during the 90’s and 00’s….