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Jamie Smith

@jgs952.bsky.social
44 followers 40 following 66 posts

Physicist, engineer, amateur economist.

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Jamie Smith @jgs952.bsky.social · 14/04/2026
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..
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Jamie Smith @jgs952.bsky.social · 18/02/2026
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...
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Jamie Smith @jgs952.bsky.social · 16/01/2026
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...
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Jamie Smith @jgs952.bsky.social · 06/01/2026
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...
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Jamie Smith @jgs952.bsky.social · 20/12/2025
Interest rates are a terrible way to control inflation. open.substack.com/pub/jgs952/p...
open.substack.com
Why interest rates are a terrible tool for controlling inflation
And what is the alternative?
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Jamie Smith @jgs952.bsky.social · 15/12/2025
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
Graphs showing general government and economy-wide gross fixed capital formation for the UK compared with G7 peers
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Jamie Smith @jgs952.bsky.social · 15/12/2025
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.
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Jamie Smith @jgs952.bsky.social · 14/12/2025
I wrote a shorter version of this (<1000 words) that's more readable. open.substack.com/pub/jgs952/p...
open.substack.com
(SHORT VERSION) Zero Interest Rates, Job Guarantee, and MMT in the UK
Feasibility and Implications
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Jamie Smith @jgs952.bsky.social · 12/12/2025
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...
open.substack.com
Zero-Interest Rates, Job Guarantee, and MMT in the UK
Feasibility and Implications
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Reposted by Jamie Smith
Modern Money Lab @modernmoneylab.bsky.social · 30/11/2025
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...
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