Hector Wetherell McNeill
@HectorWMcNeill
Economist & Systems Engineer, Director Real Incomes Approach to Economics Policy Design at George Boole Foundation. Productivity-based counter inflation policy.
THE PROBLEMS WITH FARMER REPRESENTATION IN THE UNITED KINGDOM The current unsettled nature of those in the UK agricultural sector, farmers, in wondering what is to come of this destructive UK government farm inheritance tax proposal raises the question of farmer representation…
WHY THE GOVERNMENT IS THREATENING THE LIVELIHOODS OF ALL The British government is planning to introduce a farm inheritance tax (IHT) and I have been somewhat puzzled at the government proposal and counter proposals floating around and produced by organizations who state they…
HOW TO MAKE GOVERNMENT ACTIONS REVOLUTIONISE UK ECONOMIC GROWTH We are used to government "investments" ending up as insipid growth whereas a new economic paradigm can change the reality from slow time lagged money volume low productivity "growth", into a dynamic growth with…
TO COUNTER INCOME INEQUALITY AND POVERTY, ELIMINATE INFLATION After a 50 year run at depreciating the value of the pound and with this people's purchasing power of their disposable incomes, the Bank of England continues to fail to eliminate inflation. There is talk that "taxing…
ECONOMIC POLICY MUST PERMIT INDIVIDUAL COMPANY ADAPTATION OF POLICY TO THEIR SPECIFIC CONDITIONS For over 50 years policy has imposed uniform fixed dimensions to interest rates and taxation creating differentials according to company sizes and conditions. We have witnessed…
A BETTER ECONOMIC APPROACH FOR THE UK Relying on interest rates and taxation to manage inflation has been a failure lasting for well over 50 years. Interest rates only add to costs lowering purchasing power and taxation does the same. Therefore trying to prevent inflation from…
John, @jbhearn I would be interste on your take on the following: THE OWN RESOURCES ISSUE IN THE INFLATION DEBATE There is a Monetary Policy Decision Cycle (MPDC) used to “manage” inflation. Usually this involves a repetitive cycle in interest rate setting in an attempt to…
MOSLER, KELTON & MITCHELL’S MONOLITHIC MONEY TALES (MMT) Whereas Keynesianism, conventional monetarism and, supply side economics are not too fussy about the role of money, the advocates of Modern Monetary Theory appear to be intent on making money the central factor in a…
Next time you hear a politician complaining about NHS doctors asking for fair pay, please remember that MPs have had 12 pay rises since 2010. Their salary has increased from £65,738 to £93,904! Info from statista: statista.com/statistics/388…
THE LONG SHADOWS OF IRVING FISHER AND MILTON FRIEDMAN From the frequent text citations and video statements featuring Milton Friedman’s 1970 statement, “Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid…
THE LONG SHADOW OF JOHN MAYNARD KEYNES For some reason many consider John Maynard Keynes to have been a brilliant economist, quite often referring to brilliant concepts or policy successes which had nothing to do with Keynes. One misleading statement repeated by economists who…
WHY THE BANK OF ENGLAND SHOULD, BUT CAN'T, CONTROL INFLATION The Bank of England should control inflation because it reduces the purchasing power of the pound and people's real incomes. Therefore the last thing the Bank should do is use policy instruments that further reduce…
DEFINING GROWTH EXPOSES POOR POLICIES Growth is evident when real incomes of constituents rise measured by an increase in the purchasing power of their disposable incomes. This can result from rises in nominal disposable incomes or falls in the prices of goods and services.…
THE ISSUE OF POSITIVE & NEGATIVE TRADE BALANCES PART 3 of 3 Currently, increasing numbers are noticing that no one seems to becoming up with solutions, not only to our drastic balance of payments situation but also to the general state of the economy. In Part 2 of this post I…
MMT AS A NATIONAL IMPERIAL MODEL - A REALLY BAD IDEA @StephanieKelton in an early London presentation started by explaining MMT as a parallel to the British Imperial Model that made use of the Pound to trade and tax unsuspecting colonists. I was negatively impressed by her…
THE ISSUE OF POSITIVE & NEGATIVE TRADE BALANCES PART 2 of 3 Unfortunately, several people including journalists, economists, contrarian economists and some politicians have piled in on this question of Trump’s tariffs establishing an increasingly confusing picture. So, I want…