Any properly functioning competitive market never actually sees excessive profits as there's always a competitor available seeking your market share by keeping margins low. And under the current cost-push shock, margins should always be constant anyway as costs should merely be passed on..

Longer read: I've written about how we should frame the challenge of provisioning retirement. A crucial shift is adopting a real resource lens through which to understand the level, composition, and distribution of production that is needed. open.substack.com/pub/jgs952/p...

Incomes policies such as UBI are a favourite of many. But here I argue you can achieve most of the social goals these policies seek to meet while also providing macroeconomic stabilisation via the labour market with a Job Guarantee. open.substack.com/pub/jgs952/p...

I've written here about the nature of money and why understanding money properly has far-reaching implications for modern policy making, how we all think of the economy, and what we believe is possible. open.substack.com/pub/jgs952/p...

Interest rates are a terrible way to control inflation. open.substack.com/pub/jgs952/p...

I'd throw this one into the ring too as what's underlying much of our productivity malaise. But increasingly, it's the highly unequal distribution of a stagnant nat. income that is contributing to political and social instability, particularly when combined with public sector austerity and housing

I've long realised that a significant portion of "it's complicated, there are serious pragmatic reasons why we can't do such and such good policy to improve people's lives" takes are actually just false excuses because doing so would disrupt the established powers in society.

I wrote a shorter version of this (<1000 words) that's more readable. open.substack.com/pub/jgs952/p...

I wrote about the feasibility and implications of changing our macroeconomic management to a ZIRP+JG+Banking Reforms approach, using the insights of the MMT framework lens. open.substack.com/pub/jgs952/p...

Next time Mr Polanski is asked a childish 'gotcha' style question about debt interest, he should say these things, though not perhaps in this order. 1) Google it (apologies to A. Bandt). 2) Debt issuance by the UK Govt is a choice, not a necessity. It is not to fund deficits...