The Piketty Task
By Ed Conduit
()
About this ebook
Piketty’s data describe the way that the pressure of investors for return on capital in low growth situations causes decline in real wages. The state can intervene to recoup some capital for the general good. In Britain the private housing market is taking up land from cash-strapped councils either to gain value while left empty or as buy-to-let. An alternative public housing model is outlined. Public debt accumulated mainly through spending on education and through loans to banks. Austerity policies are not reducing public borrowing. Ways of getting returns from education and getting the best value from the state’s share of RBS and Lloyds are discussed. National debt now exceeds nation GDP by three times – a puzzling statistic. Some tentative thoughts on reducing this debt are offered, with special reference to Greece.
Ed Conduit
Ed Conduit worked as a clinical psychologist for 43 years and has further degrees in lecturing, computer science and linguistics. He has no formal training in economics, but thinks that social democrats at the present time are obliged to try to understand money. His professional habit of trying to empathise with diverse peoples helps him achieve the national outlook of people in many nations.Ed's other e-book on politics and ecology is “Unsustainable Population”. He has also writtene-books on linguistics: "The Black Country Dialect", "Lakeland Language" and "The Iceland Bus”. His work on health psychology was printed in 1995 as “The Body Under Stress".
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Book preview
The Piketty Task - Ed Conduit
Piketty Task
Generation and Distribution of Wealth in 2015
Published by Laghamon at Smashwords
The Piketty Task
Generation and Distribution of Wealth in 2015
Published by Laghamon at Smashwords
By Ed Conduit
October 2015 edition
Smashwords Edition Licence Notes: this book is produced in the general interest and may be freely copied.
This book continues the thesis that nationalism is a distraction from economic leadership, proposed in a previous e-book, Scotland? No such country!
, and offer some contributions to that leadership.
Harry Potter and the QE App
In this story the people of the world are enslaved by debt. One day Draghi, one of the grand wizards, is heard to say I hereby create one trillion euros by quantitative easing
. Soon the ECB is buying assets with this magic money and nobody seems to notice. Harry and his chums discover that certain grand wizards hold a magical device even more powerful than the elder wand: the QE App. These grand wizards lead a secretive existence as governors of central banks. With the App a governor can perform a spell called Quantitative Easing, in which money is created from vacuum. The novice wizard Tsipras learns in Magic 101 that the spell can be used in reverse, and utters the words debt national Greek abolish hereby I
. But he does not know the password.
Harry is tempted to help young Tspiras, but then learns a darker secret about the money system. The muggles’ money says on it I promise to pay the bearer on demand the sum of twenty pounds
, and they believe the bank has gold in a remote stronghold called Fort Knox. But Harry finds out that the gold standard spell was lost in the Bretton Woods, Fort Knox is empty and money is now held together by a master spell called fiat parity.
When the QE spell is used by a grand wizard a little of the magic leaks out as inflation. But using the backwards QE spell releases more unpredictable magical energy. When the renegade wizard Landsbanki of the Land of Ice cast it, he unbound the ancient curse of Eyjafjallajökull and struck down all flying creatures. The muggles of Greece might be freed from the austerity spell. But is parity magic is strong enough to withstand the backwards QE App? Or will the QE app contaminate the muggles of Angle-land? Should Harry help Tsipras?
The Author
Ed Conduit has practised as a clinical psychologist for forty years and has further degrees in lecturing, computer science and linguistics. He has no formal training in economics, but thinks that social democrats at the present time are obliged to try to understand money. His professional habit of trying to empathise with diverse peoples helps him achieve the national outlook of people in many nations.
Ed's other e-book on politics and ecology is Unsustainable Population
. He has also written e-books on linguistics: The Black Country Dialect
, Lakeland Language
and The Iceland Bus
. His work on health psychology was printed in 1995 as The Body Under Stress
.
The author may be contacted at: [email protected]
Future iterations of this book will include analysis and data from readers
Table of Contents
Harry Potter and the QE App
The author
Preface
The political economy in 2015
The market will provide
Nationalism is a distraction from economic leadership
The Piketty task: reclaim private profit for the general good
Low-skills low-cost work and Britain’s dependence on immigrant workers
Britain’s high-skills economy and the mismatch with graduate output
Tax recovery by governments in the EU
The Keynesian multiplier in state spending
The future of the state’s share in RBS and Lloyds
Restore the state as the major stakeholder in housing
Renationalise utilities?
Tourism as major earner
Clap your hands if you believe in money
A wealth tax
National debt
Apart from income generation?
How can people influence political decisions?
References
Preface
The main economic problems in 2015 are national debt and declining real incomes. Piketty’s theory of investment and growth is outlined before