Exploring the UK BACS Payment System and its Grades

Part 2: Patricia and Christian talk to the authors of a groundbreaking new study that details the internal accounting operations of the UK exchequer and the ultimate impact of government spending and taxing on the private sector.

Part 1 of this conversation: https://www.patreon.com/posts/46352183

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For an intro to MMT:

Listen to our first three episodes: https://www.patreon.com/posts/41742417

All our episodes in chronological order: https://www.patreon.com/posts/43111643

All our episodes with Neil Wilson: https://www.patreon.com/posts/46352519

Our episode 13 - Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887

Our episode 16, with Andrew Berkeley chatting with Warren Mosler and Tim Rideout in a noisy (sorry!) Glasgow pub: https://www.patreon.com/posts/41806207

Our episode 45 with Steve Keen, which touches on the history of tally sticks: https://www.patreon.com/posts/35701076

Our episode 53 with L. Randall Wray, which also touches on the history of tally sticks: https://www.patreon.com/posts/37728507

Some of the papers from the Bank of England referred to by Andrew are on this thread: https://twitter.com/spatchcockable/status/1353022727993626624

For other material referred to in the conversation, check out the footnotes and references in the paper - An Accounting Model of the UK Exchequer: https://gimms.org.uk/wp-content/uploads/2020/12/An-Accounting-Model-of-the-UK-Exchequer-Google-Docs.pdf

To give constructive feedback on the paper directly, the authors have requested that a group email is best:

modernmoneymatters@protonmail.com

richardntye@gmail.com

andrew.berkeley.is@googlemail.com

Neil Wilson’s blog: https://new-wayland.com/blog/#

Sign up for Professor Bill Mitchell’s online course - Modern Monetary Theory: Economics for the 21st Century: https://www.edx.org/course/modern-monetary-theory-economics-for-the-21st-century

Transcript for opening monologue: https://www.patreon.com/posts/46866433 

Show notes: https://www.patreon.com/posts/46865929