Why the household analogy in economics is wrong
Funding the Future
Why the household analogy in economics is wrong
As I have written many times before, one of the most persistent and damaging myths in economics is the so-called household analogy. This is the ide...
 The choice is stark: either we keep pretending the state must balance its books, like a family in a soap opera debt-crisis scene, or we face up to the truth that it has far greater responsibilities and capacities than most of our economic and political establishment will acknowledge and start using them for the common good.
Why “spend before tax” is the key to unlocking a future for young people
Funding the Future
Why “spend before tax” is the key to unlocking a future for young people
In a post I published here yesterday, I explained that in a country like the UK, which issues its own currency, has an effective tax system, a fun...
 If we understand that, as a matter of fact, government spending comes before tax, we open the political space to demand secure homes, good jobs, free education, affordable childcare, and a liveable planet now, and not in some imagined future when the books “balance”.