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To all my followers. I’m preparing my presentation for the @CTNTE Conference to be held next Wed. In short, the UK can learn many valuable lessons from the Mexican experience in addressing the inflation problems caused by the knock-on effects of the Russian invasion of Ukraine.
I have tweeted before about the Mexican policy solution to the #CostofLivingCrisis , and will retrieve the tweets if I have time. Russia is using oil & gas prices as a war weapon against the West. We need to respond in kind with fresh anti-inflation policies. In summary we need:
1. a new basic-needs inflation index; 2. negotiated links of wage-rate increases to inflation using this index; 3. govt-led food policy in which the large food companies work together to achieve economies of scale in producing basic goods and services;
#TheScienceofMoney is the core of #SpaceTimeEconomics Money, as a social construct in evolution, is as critical & crucial as the discovery of fire. Both transformed the prospects of those who adopted them. This is social evolution.
Money lubricates transactions; it allows us to reduce risks; perceptions of enough of it can make us content; it is simultaneously beautiful, desirable, neutral, & dangerous. It is a tool, an idea, a way of ascribing responsibility, a tracking mechanism. It has multiple meanings.
“Money makes the world go round”, “Money, money, money”, if only I/we/they had enough, “they are moneyed”, “who needs money?” If you & I are not careful, money can dominate thoughts & hopes. The sunlit uplands are paved in gold. The magic. Love of money is “root of all evil”.
New multidimensional tools are available. @e3me is a #SpaceTimeEconomics modelling framework capable of analyzing policy packages at global, national, regional, & local levels.
However, there is a problem in that financial markets move almost instantaneously, whilst real markets need time to make, move, and sell goods & services. They have benefited more from computing science, & attracted more talent by their lucrative promises.
This imbalance is very destructive of progress towards #NetZero, which needs real investment in climate change mitigation & adaptation, not the #PostTruthEconomics of populist governments, or the pseudoscience of neoclassical economics. @INETeconomics
