The soon-to-be released Q3 edition of the British Strategic Review provides a plain English description of how monetarism and Keynesianism impact the wellbeing of the British constituents.

Section 1 clarifies various economic concepts.

Section 2 traces the impact of monetarism and Keynesianism on the wellbeing of British constituents.

Section 3 reviews the impacts of our form of economic management and on the planet and human survival.

Section 4 reviews the recent evidence in the Lords Economic Affairs Committee Report on QE. One participant saw quantitative easing (QE) as a policy without a theory and others made predictions as if there is an underlying theory. The Bank of England (BoE) remains uncertain. Their evaluations conclude they are "still learning about the effectiveness of QE". For over a decade, the government and BoE have therefore experimented with the British economy and constituent wellbeing on a grand scale. The paradoxical aspect of the Terms of Reference of the Committee's review is that it does not touch on the identification of solutions to the crisis created by QE. Fortunately, more substantive evidence from experienced economists, not included in the Economic Affairs Committee witness list, has provided a more realistic perspective on significant mistakes in policy, on the one hand, as well as some proposed solutions, on the other.

This edition of BSR cuts through such uncertainty with clear explanations of several important facts and relationships that are often misunderstood.

Section 5 concerns the economic constraints imposed by the British Constitution.

Section 6 suggests ways to improve the acquisition and beneficial application of knowledge for a more productive economy.

Section 7 provides both theory and practical means to implement solutions to the current economic crisis.

Section 8 is a more detailed technical section which confirms that QE is a policy with no theorical underpinning through mathematical and sector analyses. As flawed theories monetarism and Keynesianism are extremely inefficient means of managing the economy.


List of Contents
Please note this list of contents is
subject to change before publication.

Contents Introductory Summary SECTION 1 Introduction Monetarism & the real economy Monetarism The real economy The physical assets economy The financial instruments economy Constitutional economics Employment, electoral significance & the nature of economic value across economies Economic structural transformation The more recent policy transformation Macroeconomics, microeconomics and development economics Why are macroeconomic policies needed? Private and public goods Compliance with ethical behaviour Processes and organic growth Process productivity Contributions to productivity Compensation for contributions Inflation What causes inflation? Inflation in the prices of goods and services Inflation in the prices of assets and instruments Incomes Real economy (goods and services) price inflation, deflation and the currency Asset economy (assets) price inflation, deflation and the currency The real income effects of income sources Constitutional implications of income sources Real growth and nominal growth Human capital, tacit and explicit knowledge Scale of operations The cost of living and economic growth Real incomes & currency value Innovation and real incomes Endogenous and exogenous money Liberal and conservative fiscal policies and organic growth Summary of Section1 SECTION 2 Some recent historic perspectives relevant to this discussion Money volumes and inflation Investments Financialization Why did monetarism take hold? The identification of alternative policies What is supply side economics? 1981 as a turning point in policy Background An assessment of the monetarist logic However, money volumes do create inflation Economic stability & disequilibrium – which is more realistic? Removing the presumption of equilibrium The real incomes approach Inflation and deflation Towards a consensus model Where does economic growth come from? Are there some general objectives? Why waste time on the QTM? Quantitative easing and modern monetary theory Conclusions of on money volumes from any source Summary of Section 2 SECTION 3 The impacts of our form of economic management and on the planet and human survival TWS issues and productivity declines Moving from Net-Zero to Net-Negative The current and future contributions of Locational-State Theory In preparation Summary of Section 3 SECTION 4 Comments of the Economic Affairs Committee Report In preparation Summary of Section 4 Section 5 The impact of the British constitution Under review Summary of Section 5 SECTION 6 The acquisition and beneficial application of knowledge Under review Summary of Section 6 SECTION 7 Pointers to feasible solutions Under review Summary of Section 7 SECTION 8 The progressive atomization of the real economy QTM limitations Quantitative easing The Cambridge equation The real economy Quantitative easing and real incomes A Real Money Theory Towards an extended Real Money Theory Expanding the asset data set Returns to scale, learning, explicit and tacit knowledge Assets Growth is rising productivity Exogenous and endogenous dealings Inflation Summary of Section 8 The author: Annex 1: References & notes Annex 2: Perspectives on macroeconomics applied in this document Title: Monetarism and the real economy Main cover title: British Strategic review Date: Q3, 2021 Production: Decision Analysis Group, SEEL-Systems Engineering Economics Lab. Publisher; Hambrook Publishing Company, Portsmouth, Hampshire, United Kingdom ISBN: 978-0-907833-49-9

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