ONLY an independent Scotland with its own central bank and currency can both humanely and efficiently tackle the ongoing cost-of-living crisis.
With the debate about a newly independent Scotland’s currency remaining on the periphery, and considering the constraints prohibiting Scotland, perhaps it is time the indy movement revisit the brilliant ideas offered by John Maynard Keynes.
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Keynesianism can be considered a mass-scale government investment into the local economy. This has proven fundamental to navigate the challenges of the great depression, the great recession, Brexit and pandemics. As long as Scotland remains part of the UK it will never have the full range of financial tools popularised by Keynes at its disposal.
Only an independent and fully sovereign government can utilise the Keynesian idea that “one person’s spending is another’s person’s income” effectively for the common good.
Miguel Giovanni Canella Viegas
via email
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