Martin Seale The mainstream media is full of stories about bonds. The fear being spread is that the Labour government will be unable to sell UK government bonds to a private sector that is apparently worried about whether the UK government might go bust. The UK mainstream media is unimpressive at the best of times. But … Continue reading Nonsense about government bonds
Central Bank
How could the labour movement control inflation without increasing unemployment?
Dave Gardner This article takes, as a starting point, the article by Martin Seale on how the Bank of England (BoE) manages inflation through manipulating interest rates with the byproduct being unemployment. Currently, the BoE manages inflation through the setting of an interest rate that keeps the inflation rate stable. The mechanism used is the … Continue reading How could the labour movement control inflation without increasing unemployment?
The Central Bank of Japan
Michal Lerner In the March issue of Labour Affairs I described the operation of the UK and US central banks. In this article I will look at the central bank of Japan. But first a word on terminology. There will be many references to ‘reserves’ and ‘reserve accounts’ in the article. Reserves is just another name for money. Reserve … Continue reading The Central Bank of Japan
Labour Affairs 