E356 - Ep 356 - Scotland's Economic Suicide Pact? with Will Thomson

Steve and his guest, Scottish political economist William Thomson, use the fight over Scotland’s independence to dissect how class power hides inside “neutral” economic rules.

Will, founder of SCOTONOMICS, talks about his journey from neoclassical training to a heterodox, political-economy perspective grounded in MMT, ecological economics, and class analysis.

He recently wrote a paper (with friend-of-the-podcast Dirk Ehnts) showing how the Scottish government’s plan to copy the EU’s Stability and Growth Pact and delay its own currency would lock an “independent” Scotland into permanent austerity and dependence on markets and foreign owners.

Will expl...