(Mostly what is mainstream economics, as this post turned out). The field of economics is overwhelmingly dominated by a single school of thought - known as Neoclassical Economics. Almost all economists are neoclassical economists. Note: I am incorrectly blending together Neoclassical Economists with New Keynesians (not actually Keynesians - he would be turning in his … Continue reading What is heterodox economics?
Author: Tom Nockolds
“Taxpayers money” is a neoliberal trope
A common refrain, "taxpayers money". We feel it with outrage when talking about the wasteful government programme gone awry. It helps strengthen our argument when we push for greater levels of oversight and scrutiny in public procurement. Taxpayers money is intuitive. It makes us feel important and empowered; we pay taxes and it is therefore … Continue reading “Taxpayers money” is a neoliberal trope
Inflation is acceleration
Inflation is a rise in the general price level over a period of time. This means prices moving from one level to a new (higher) level between points in time. If inflation stops, the prices will stop rising and the new (higher) price level will remain until either inflation or deflation occur. Deflation is simply … Continue reading Inflation is acceleration
Does Quantitative Easing create new money?
Stop right there! Hold it. Go back a bit… did you see that? Exactly at the moment when the QE operation happened, the bank balance went up. The money came from nowhere! QE is a form of money creation!! Okay, so what is QE - Quantitative Easing? Put simply, Quantitative Easing is when the Bank … Continue reading Does Quantitative Easing create new money?
Reduce energy prices two ways with the “merit order effect”
The "merit order effect" is a term to describe the how the energy market operates (here in the UK, also Australia and other places) such that the addition of more renewables into the grid will lower the cost of energy overall. I won't try to re-descibe what has already been adequately described by people who … Continue reading Reduce energy prices two ways with the “merit order effect”
When “Friends” manipulate
In the Herald Scotland today "Climate concern: Scotland burns four times more waste than five years ago" https://www.heraldscotland.com/news/homenews/19771720.climate-concern-scotland-burns-four-times-waste-five-years-ago/ For me, the main issue in the article is the constant characterisation of Energy-from-Waste as "incineration". This is emotive language, designed to elicit a negative view of Energy-from-Waste. Friends of the Earth are using this approach to manipulate people who read these media … Continue reading When “Friends” manipulate
Perfect community benefits?
When we think of a community in the context of a local energy project, what are the optimal benefits the local community might receive? I argue the best outcome is to deliver benefits that reflect the real desires and motivations of the local community. This article in ReNEWS with the title "Scottish project 'perfect example' … Continue reading Perfect community benefits?
Carbon Capture and Storage, honestly
Great to see Juice Media and their “honest” Australian Government announcements getting some traction here in Scotland. Robin McAlpine in a recent Common Weal blog post wrote about carbon capture and storage (CCS) and how the tech doesn’t work, can’t work and merely delays action to phase out fossil fuels. https://commonweal.scot/carbon-capture-and-storage/ The Juice Media video … Continue reading Carbon Capture and Storage, honestly
(Keeping the)Heat in Buildings
Scottish Government policy is to do energy efficiency first The second chapter of the Heat in Buildings Strategy, titled "A 2045 Pathway for Scotland's Homes and Buildings" sets out "the trajectory we must take to meet our net zero ambitions". The Scottish Government makes it clear they are taking a "fabric first" approach to decarbonising … Continue reading (Keeping the)Heat in Buildings
A Fast and Fair Transition to Clean Energy
Fast and Fair Early this morning at a strategy meeting, Nicky Ison, a fellow board member at Community Power Agency, recalled how in 2017 in the lead up to the second Australian Community Energy Congress, she and Erland Howden devised the term "Fast and Fair" to describe the important work of community energy. Here she … Continue reading A Fast and Fair Transition to Clean Energy
Strategies for Zero Carbon Heat in Buildings
The Folly of Hydrogen as a Source of Heat in Buildings An industry group representing heavy carbon emitting industries (such as oil and gas) as well as Carbon Capture and Strorage (CCS) players and hydrogen technology developers has proudly published a report back in July. The "Scottish Cluster" commissioned the report to explore the role … Continue reading Strategies for Zero Carbon Heat in Buildings
Seven Deadly Innocent Frauds (DIFs) of Economic Policy
A great article on the #MintTheCoin campaign; which is a proposal to side-step the US government’s self-imposed (and weaponised) debt ceiling by having the government instruct the Mint to create a $1 trillion platinum coin. Well worth a read. https://www.vox.com/platform/amp/22711346/trillion-dollar-coin-mintthecoin-debt-ceiling-beowulf?__twitter_impression=truehttps://www.vox.com/platform/amp/22711346/trillion-dollar-coin-mintthecoin-debt-ceiling-beowulf Included in the article is some discussion about how Republicans know full well that they … Continue reading Seven Deadly Innocent Frauds (DIFs) of Economic Policy
The Memex Method (Hello World)
Cory Doctorow's inautural article on Medium with the title "The Memex Method”, describes a 20 year blogging habit. https://doctorow.medium.com/podcasting-the-memex-method-7b54e5a0de6d The article showcases his online, public version of a commonplace book, "the auctorial equivalent to the artist's sketchbook", and the benefits this brings. I had to look up the definition of “auctorial”, which means “of or … Continue reading The Memex Method (Hello World)