Scotonomics2024-03-30T14:17:43+01:00

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demystifying Our Economy.

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We continue our journey to discover how the economy really works and provide nourishment for independent minds.

Our podcast, blog Posts and Reports are essential for anyone interested in Scottish politics and the Scottish economy.

Scotonomics delves into the details of our modern economy

We all know that something is wrong with the way that the economy is currently working and we will find out why. Throughout 2024 we will demystify the Global, UK and Scottish Economy.

We will challenge the Scottish Government to explain their current plans and proposals for a post independent Scotland and challenge the neoliberal foundations of UK establishment.

Every second, third and fourth Monday we pose challenging questions to leading economists from across the globe on our podcast as we explore the myths that govern our lives in a modern economy.

WHAT DO WE OFFER?

Scotonomics, a dynamic online resource offering a comprehensive platform dedicated to fostering economic literacy and critical discourse.

  • Weekly Live Shows on YouTube: Where viewers can join discussions on various economic topics, gaining insights from expert analyses and lively debates.
  • Patreon Membership: Scotonomics offers an exclusive Patreon membership program, allowing supporters to access additional content.
  • Events and Engagement: Scotonomics organises events and courses connecting individuals passionate about creating a prosperous economy.

OUR VALUES

Scotonomics is on a mission to demystify economics, making it accessible to a wider audience and promoting informed, constructive conversations about economic issues in today’s complex world.

With a commitment to education and collaboration, Scotonomics aims to empower individuals with the knowledge needed to navigate economic challenges effectively.

Scotonomics embodies a philosophy rooted in the belief that economics should be a tool for empowerment and enlightenment rather than an exclusive domain for experts.

With a commitment to clarity, accessibility, and objectivity, Scotonomics strives to break down complex economic concepts and make them understandable to people from all walks of life. Our philosophy emphasises the importance of informed and critical thinking, encouraging people to question, analyse, and engage with economic issues.

By fostering a community of learners and promoting economic literacy, Scotonomics seeks to contribute to a more informed and equitable world where individuals can actively participate in shaping economic policies and understanding their impact on society.

Scotonomics is unwavering in its commitment to delivering high-quality, unbiased economic content.

Scotonomics strives to maintain an open and inclusive platform, welcoming diverse perspectives and fostering respectful discussions. Furthermore, we are committed to continuous improvement, actively seeking feedback from our community to refine and enhance our content and engagement initiatives.

With a dedication to knowledge dissemination and constructive dialogue, Scotonomics remains devoted to its mission of empowering individuals through economic education and awareness.

Scotonomics holds a promise to its viewers and community that it will always deliver on its core principles of education, objectivity, and accessibility.

We will challenge and hold to account the Scottish and the UK Goverment.

Scotonomics pledges to remain committed to fostering a vibrant and inclusive community where diverse perspectives are valued and respectful discussions are encouraged.

Moreover, the channel promises to continuously evolve and adapt, striving to meet the ever-changing needs of its audience and delivering valuable economic knowledge that empowers individuals to navigate the complexities of our global economy with confidence.

Scotonomics is built on the core value of “Economic Empowerment.” We believe in the transformative power of economic knowledge and strive to provide our audience with the tools and understanding needed to make informed decisions in their personal and societal lives.

Scotonomics values accessibility, making sure that economic concepts are presented in an approachable manner so that everyone, regardless of their background, can engage with the content.

Ultimately, Scotonomics aims to enrich its community with the value of economic literacy, enabling individuals to participate actively in shaping a more equitable and prosperous future in Scotland.

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Scotonomics is essential viewing for anyone interested in Scottish politics and the Scottish economy. Join us as we demystify the economy.

YouTube Video VVVCRGFZQnBBTDFib2pxTS15em5FY2VBLnYzb3RQcmhCUjZJ THE Scottish Government has an opportunity for a new economic direction, and the key is to focus on resilience. Things simply must change. Until we become independent, the Scottish Government must focus on making Scotland more resilient. Scotland is already seeing the negative impacts of climate change and changing global power dynamics, and it must react to them. The Scottish government must focus on food and energy security/sovereignty. Resilience takes three forms: We must have more power, our economy must be more diverse, and it must be more equal. Power: Resilience is built by owning and controlling the main factors of production. We must have more control of land and its use. The Scottish government and local authorities must support a variety of business models, including community land trusts and social enterprises. We are more resilient when we have more of a say in Scotland’s economy. Earlier this year, we identified three Scotland-specific challenges: the high levels of foreign ownership among Scottish industries, the low proportion of UK companies headquartered in Scotland, and the large annual outflow of capital. Any new administration must address these structural weaknesses. Diversity: Resilience also comes from having a variety of possible solutions. We must move away from the centralised institutions and markets that dominate Scotland and the UK. A prime example would be the power of the large supermarkets in Scotland. None of them are based in Scotland, and yet we have effectively outsourced our whole food supply chain to these foreign-based, profit-driven multinationals. The same can be said about our energy supply. To become more resilient, a new administration must devolve power, especially tax-raising power, to local authorities with more flexibility to levy taxes on specific land uses and landowners. Money raised at the local level is not syphoned off via the block grant. This tax is levied in Scotland and stays in Scotland. With these extra funds, local authorities should be supported to enhance their resilience. Finally, a more balanced economy in terms of income and wealth is a much more resilient one. All of the above chimes with the wellbeing economy, and none is too radical or controversial. Would any candidate for FM argue with the substance of any of this? Scotland's economy needs direction. The idea of a resilient, wellbeing economy might unify a party and a nation and create the type of economy most of us want.
SCOTONOMICS 636
SCOTONOMICS Ep 102: Building a resilient Scottish Economy
SCOTONOMICS May 13, 2024 4:28 pm
THE Scottish Government has an opportunity for a new economic direction, and the key is to focus on resilience. Things simply must change. Until we become independent, the Scottish Government must focus on making Scotland more resilient. Scotland is already seeing the negative impacts of climate change and changing global power dynamics, and it must react to them. The Scottish government must focus on food and energy security/sovereignty. Resilience takes three forms: We must have more power, our economy must be more diverse, and it must be more equal. Power: Resilience is built by owning and controlling the main factors of production. We must have more control of land and its use. The Scottish government and local authorities must support a variety of business models, including community land trusts and social enterprises. We are more resilient when we have more of a say in Scotland’s economy. Earlier this year, we identified three Scotland-specific challenges: the high levels of foreign ownership among Scottish industries, the low proportion of UK companies headquartered in Scotland, and the large annual outflow of capital. Any new administration must address these structural weaknesses. Diversity: Resilience also comes from having a variety of possible solutions. We must move away from the centralised institutions and markets that dominate Scotland and the UK. A prime example would be the power of the large supermarkets in Scotland. None of them are based in Scotland, and yet we have effectively outsourced our whole food supply chain to these foreign-based, profit-driven multinationals. The same can be said about our energy supply. To become more resilient, a new administration must devolve power, especially tax-raising power, to local authorities with more flexibility to levy taxes on specific land uses and landowners. Money raised at the local level is not syphoned off via the block grant. This tax is levied in Scotland and stays in Scotland. With these extra funds, local authorities should be supported to enhance their resilience. Finally, a more balanced economy in terms of income and wealth is a much more resilient one. All of the above chimes with the wellbeing economy, and none is too radical or controversial. Would any candidate for FM argue with the substance of any of this? Scotland's economy needs direction. The idea of a resilient, wellbeing economy might unify a party and a nation and create the type of economy most of us want.
SCOTONOMICS Ep 102: Building a resilient Scottish Economy
YouTube Video VVVCRGFZQnBBTDFib2pxTS15em5FY2VBLnYzb3RQcmhCUjZJ
Former Bank of England MPC member David "Danny" Blanchflower joins us to discuss his recent work on happiness and wellbeing.
SCOTONOMICS Ep: 101. The Economics of Wellbeing and Happiness
YouTube Video VVVCRGFZQnBBTDFib2pxTS15em5FY2VBLkp1YUM0QldBd0lV
Everything you know about capitalism is wrong, although if you have been watching our episodes for a while, you will likely be aware of that fact! Free markets aren't really free. Record corporate pro­fits don't trickle down to everyone else. And we aren't empowered to make our own choices – they're made for us every day. In Vulture Capitalism, acclaimed journalist Grace Blakeley takes on the world's most powerful corporations by showing how the causes of our modern crisis are the intended result of our capitalist system. It's not broken, it's working exactly as planned. From JPMorgan to Boeing, Henry Ford to Richard Nixon, Blakeley shows us exactly where late-stage capitalism has gone wrong. Searing, explosive and timely, Vulture Capitalism is the book you need to understand what is happening in the world around you – and what you can do to change it. Book available now: https://www.amazon.es/Vulture-Capitalism-LONGLISTED-NON-FICTION-English-ebook/dp/B0CLJ6RSB4
SCOTONOMICS Ep: 100. Vulture Capitalism with Grace Blakeley
YouTube Video VVVCRGFZQnBBTDFib2pxTS15em5FY2VBLjdaOEd0UHl4WTZn
A lot is going on in Scotland to encourage more people to understand economics and, more importantly, how our economy really works. Two members of the Scottish Currency Group join us to discuss Scotland's Economic Landscape. Ian Stewart, Chairman Scottish Currency Working Group, discusses the new Scottish Monetary Research Institute and Dr Robert Mochrie, Associate Professor, Edinburgh Business School, chats about his new book: “How to Think Like an Economist.” https://www.amazon.es/How-Think-Like-Economist-Economists/dp/1399408 Just us for a live chat on this SCOTONOMICS Special
SCOTONOMICS LIVE SPECIAL - Scotland's Economic Landscape
YouTube Video VVVCRGFZQnBBTDFib2pxTS15em5FY2VBLjRUQWFjVW12bGR3
What if the world's biggest marketplace (international foreign exchange) was hosted on a publicly owned system? What if all profit could be removed from the system? What would a truly level playing field look like? An Australian inventor had that vision. How do you think the big international banks responded to that? Find out the amazing story about "Alice" and what it tells us about the monetary system. https://www.amazon.co.uk/Alice-TM-biggest-untold-history/dp/0522880274 Full interview available on the Scotonomics Patreon: https://www.patreon.com/Scotonomics
SCOTONOMICS EP: 99 Alice ™: The biggest untold story in the history of money
YouTube Video VVVCRGFZQnBBTDFib2pxTS15em5FY2VBLkhmamhMcFFlX2dN
Inequality & Economic Growth with Professor Stephanie Seguino. Economics Professor Stephanie Seguino from the University of Vermont takes us on a tour to understand and explain the relationship between inequality and economic growth. https://www.uvm.edu/cas/economics/profiles/stephanie-seguino
SCOTONOMICS Ep: 98 Inequality & Economic Growth
YouTube Video VVVCRGFZQnBBTDFib2pxTS15em5FY2VBLnl4OWRoUnRXa21j
This month marks the start of a new tax year, during which we will inevitably have a new government. To mark this event Professor Murphey has published the Taxing Wealth Report 2024. This report seeks to answer the question that everyone loves to ask of every politician, which is ‘how are you going to pay for it?’ What we know is that Labour is acting as if it still believes Liam Byrne’s 2010 claim that ‘there is no money left’. In the Taxing Wealth Report, I show that by making up to thirty relatively simple changes to existing UK taxes, up to £90 billion of new tax revenue could be raised a year, entirely from those who are well off or who are straightforwardly wealthy. A summary of the proposals made in the report is available here. https://taxingwealth.uk/wp-content/uploads/2024/04/Taxing-Wealth-Report-2024-Summary.pdf Some of the suggestions made, and the amounts that they might raise in additional tax, are as follows: 1) Charging capital gains to tax at the same rate as income tax would raise £12 billion of extra tax per annum. 2) Restricting the rate of tax relief on pensions to the basic rate of income tax, whatever tax rate a person pays, would raise £14.5 billion of extra tax per annum. 3) Charging VAT on the supply of financial services, which are inevitably consumed by the best off, could raise £8.7 bn of extra tax per annum. 4) Charging an investment income surcharge of 15% on income above a tax free level (which could be set much higher for pensioners) earned from interest, dividends, rents and other sources might raise £18 bn of extra tax per annum. Lower rates could, of course, be charged. 5) Charging national insurance at the same rate on all earned income, whatever its amount above the existing minimum, might raise up to £12.5 bn of extra tax per annum. 6) Investing £1 billion in HMRC so that it might collect all tax owing by the UK’s 5 million or so companies when 30% of that sum goes unpaid at present might raise £12 billion per annum. In addition, the report suggests that if the tax incentives for saving in ISAs and pensions were changed so that all new ISA funds and 25% of all new pension contributions were required to be saved in ways that might help fund new infrastructure projects in the UK, including those linked to climate change, then up to £100 billion of funds might be made available for that purpose a year. Many people in the UK fear that Labour might form a new government this year but will not change anything because of its commitment to harsh fiscal rules that promise more austerity. The Taxing Wealth Report 2024 shows that this austerity is not necessary. The existing tax system only needs to be made a bit fairer, and the funding required to transform our society would be available.
LIVE SCOTONOMICS SPECIAL with Professor Richard Murphy
YouTube Video VVVCRGFZQnBBTDFib2pxTS15em5FY2VBLktTQVdpRTNndEc0
Every now and again, we like to revisit the idea of the Wellbeing economy in Scotland. It is time for a check-up with Dr Lukas Bunse from the Wellbeing Economy Alliance. Join us for this LIVE chat as we prepare to answer any questions you have about the idea, the theory and the application of a wellbeing economy in Scotland.
SCOTONOMICS Ep: 97 The Wellbeing Economy - how well are we doing?
YouTube Video VVVCRGFZQnBBTDFib2pxTS15em5FY2VBLm1Tel8zd1VaZ0JB
Gillian Martin MSP (Energy & Environment Minister, Scottish Government) answers a question from our audience and Miriam Brett (Future Economy Scotland) gives a summary of Freeports.
Freeports in Scotland - discussions from our Festival of Economics
YouTube Video VVVCRGFZQnBBTDFib2pxTS15em5FY2VBLmhOdVhfcXhSc19V
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