#146: Phil Armstrong: No Banker Left Behind - The Britannia Unchained Budget

Patricia and Christian talk to economist and author Dr Phil Armstrong about Trussonomics and UK Chancellor Kwasi Kwarteng’s recent “fiscal event”.

 

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For an intro to MMT:

Our first three episodes: https://www.patreon.com/posts/41742417

Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318

 

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

 

All of our episodes with Phil Armstrong: https://www.patreon.com/posts/42072846

 

Quick MMT reads:

Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/

Steven Hail’s quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095

On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/

 

Phil Armstrong on Twitter: https://twitter.com/PhilArmstrong58

 

“Can Heterodox Economics Make a Difference?: by Phil Armstrong: https://www.e-elgar.com/shop/gbp/can-heterodox-economics-make-a-difference-9781800370883.html

 

 

 

Things that came up in this conversation:

Using the Payments System to Enforce an Russian Oil Price Cap Likely to Cause Supply Shock: https://www.nakedcapitalism.com/2022/09/using-the-payments-system-to-enforce-an-russian-oil-price-cap-likely-to-cause-supply-shock.html

Enough is Enough Campaign (UK Day Of Action 1st October 2022): https://wesayenough.co.uk/

Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683

 

Our Job Guarantee episodes:

Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701

Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543

 

Episodes on monetary operations:

Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824

Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318

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

Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683

Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183

Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929 

 

Episodes on inflation:

Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508

Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678

Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835

Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379

Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558

 

Sign up for Professor Bill Mitchell’s online MMT 101 course (Sep 14 - Oct 12 2022): https://www.edx.org/course/modern-monetary-theory-economics-for-the-21st-century

 

Details of Modern Money Lab’s online graduate and postgraduate courses in MMT: https://modernmoneylab.org.au/

 

Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: https://gimms.org.uk/

 

A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757

 

We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos

 

Transcript for opening monologue: https://www.patreon.com/posts/72554000?pr=true

 

Show notes: https://www.patreon.com/posts/72553803?pr=true