Seeds of Change 2021 Day 1: Government Deficits, QE Forever and the 'Magic Money Tree'

By Paul Mills 29 Nov 2021

National policy responses to the Covid-19 pandemic have prompted dramatically higher levels of government borrowing in several higher-income countries, financed by further rounds of central bank asset purchases (QE). In the wings, Modern Monetary Theory (MMT) is tempting finance ministers with the notion that government borrowing can be almost limitless – provided it doesn’t cause inflation, but is it really the solution for government finance?

What about debt on the opposite end of society, at the household level? We hear about a campaign to cancel Covid-related debt and from an organisation supporting people who are drowning in debt.

You can find other videos from the 2021 Seeds of Change conference here.

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Modern Spirituality: learning from the poets

This Cambridge Paper offers a brief account of current alternative spiritual practices before asking what it is like to negotiate the tension between the assumptions of secularity and the impulses towards extra-ordinary forms of experience. Some of the richest accounts of modern spirituality come from the 1930s, and this paper examines some of the period’s profoundest poetic explorations of belief.

 

Download the paper