Sovereign Currency for Scotland

Scotland currently does not have it's own sovereign currency or full control over it's tax system. Modern Monetary Theory suggests that if a country has control over it's own currency production and tax system, as long as it is able to keep a handle on inflation, then it can afford to implement all the necessary changes needed to change society and tackle the climate crisis. e.g. free public transport.

 

See here for an explainer:

https://www.jasonhickel.org/blog/2020/9/10/degrowth-and-mmt-a-thought-experiment#:~:text=In%20MMT%2C%20the%20purpose%20of,also%20used%20to%20reduce%20inequality.&text=MMT%20proposes%20that%20we%20should,rather%20than%20something%20we%20own.

Why the contribution is important

This has the potential to remove a serious barrier to effectively tackling the climate and ecological crisis and at the same time tackle inequality within Scotland.

by Paul on October 25, 2020 at 11:24PM

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