Well, let’s be honest, you don’t hear debates like this in any parliament normally, but we should.
Yet here we are in the mother of parliaments debating the destruction caused by the way money is now created.
“No one can argue prosperity has not increased [since 1974], but if distributional effects matter at all, one must ask “Who benefits?”
This was a backbench debate, which means that no vote is taken at the end and no laws are changed; it is simply an opportunity to discuss important policy issues outside of the government’s agenda.
NB: Not for everyone (it is over two hours long) but given the almost unacknowledged impact of Quantitative Easing, and the destructive effect of modern money creation on house prices and the business cycle, perhaps the most important parliamentary debate of modern time.
[Hat tip Rupert A.]