A critique of the University of Cambridge’s external financing approach from the perspective of modern money theory

Remarks for the discussion at the Senate House, University of Cambridge on 6 November on the use of funds from £600 million bond issue Deputy Vice Chancellor. The Council has already approved of raising external finance by issuing bonds of up to £600 million. And I understand that this discussion is about the use ofContinue reading “A critique of the University of Cambridge’s external financing approach from the perspective of modern money theory”

That’s all very well but as a nation we just can’t afford it

Health and social care and education are now just unaffordable. There are too many old and sick people and too many people want to go to university. We can’t afford it. We have to do something different, they say. However, affordability at the level of a nation is widely misunderstood. The common metaphor for aContinue reading “That’s all very well but as a nation we just can’t afford it”

A quick response to Lord Willetts on intergenerational equality (Resolution Foundation Report).

This is a quick response on Willetts’ talk in the Imagine 2027 series at Anglia Ruskin University last night. It is remarkable that the liberal wing of the Conservative is being forced to respond to the Labour Party’s progressive economic turn. Willetts’ considers that intergenerational equality is driven by birth rates, a largely Malthusian idea.Continue reading “A quick response to Lord Willetts on intergenerational equality (Resolution Foundation Report).”

The Higher Education pensions dispute: a perfect storm of neo-liberalism, marketisation and austerity

The current dispute between the University and College Union (UCU) and the representative body of the employers, Universities UK (UUK), is over imposed cuts to pension benefits. According to the UCU, the annual retirement income of academics will be reduced by 10 to 40 percent. This is on top of real-terms pay cuts of 19.5Continue reading “The Higher Education pensions dispute: a perfect storm of neo-liberalism, marketisation and austerity”

Labour’s Universal Free School Meals policy: an economic not an educational policy

Labour’s Universal Free School Meals Policy, for primary schools, funded by adding VAT on private school fees was generally well received. Those that opposed it, generally, did not see it as an economic policy and it perhaps reveals a limited understanding of how a nation’s economy work. So in this blog, I want to outline howContinue reading “Labour’s Universal Free School Meals policy: an economic not an educational policy”

Notes   [ + ]

1. http://www.ucu.org.uk/circ/pdf/UCUBANHE14.pdf
2. Ibid. The accounting model changed in 2016/17 but the sector continued to secure considerable surpluses.
3. https://medium.com/@mikeotsuka/oxfords-and-cambridge-s-role-in-the-demise-of-uss-a3034b62c033
4. It is not really leaving the UK, more accurately it means there is domestic accumulation of Sterling as a consequence of overseas trade.
5. https://www.tes.com/news/school-news/breaking-news/new-figures-reveal-dearth-poor-students-russell-group-universities