Currency

Soft Currency Economics II (MMT – Modern Monetary Theory

Author / Creator: Warren Mosler

Media type: Book

Date published: 1993

  • what is money;
  • why debt monetization and the money multiplier are myths;
  • how fiscal and monetary policy can be used effectuate full employment;
  • deficits do not cause countries to default on their debt unless that is the decision.


Putting citizens at the centre of Scotland’s economic policies

Author / Creator: Jim Byrne

Media type: Blog

Date published: 2022

A call for a new model to derive economic polices. Modern Monetary Theory (MMT) is a practical-based model that looks after the welfare of a nation's citizens.


Would an independent Scotland have to use the Euro?

Author / Creator: Believe in Scotland

Date published:

‘No. Scotland would not have to use the Euro.’ 


New Money; Central Bank Digital Currencies

Author / Creator: Peter Ryan

Media type: Podcast

Date published: 2021

Central Bank Digital currencies in an Independent Scotland. Craig speaks to Peter Ryan – expert on currency and banking systems and author of several papers for Common Weal and the Scottish Independence Convention - on currency in an independent Scotland. 


The SNP must rethink its economic model for an independent Scotland

Author / Creator: Laurie Macfarlane

Media type: Assessment report

Date published:

A critique of the Growth Commission's report. "Far from being an asset to the independence cause, the Growth Commission is its biggest liability. It’s time, as we say, ‘tae think again’."


Transition to a Scottish Currency

Author / Creator: Peter Ryan

Media type: Policy Paper

Date published: 2020

The decision on Scottish independence is a decision for the people of Scotland.  When making that decision it should be clear which currency an independent Scotland would use. If the people of Scotland vote for an independent Scotland with its own currency, that democratic mandate should be respected.


Would an independent Scotland have to keep the pound and cut public spending?

Author / Creator: Joël Reland

Media type: Fact check

Date published:

Public spending in an independent Scotland could continue to grow. This does depend on sufficient growth in the economy after independence.


Scottish Currency Group

Author / Creator: Tim Rideout

Media type: Facebook group

Date published:

People working towards the introduction of a Scottish Currency 'as soon as practicable' after Independence Day.   A Facebook group.


Scottish Reserve Bank

Author / Creator: Tim Rideout

Media type: Blog

Date published:

The Scottish Reserve Bank website attempts to clear up many of the deliberate myths surrounding the establishment of a new Scottish currency 


How to make a Currency: A Practical Guide

Author / Creator: Peter Ryan

Media type: Policy Paper

Date published: 2016?

This is the most detailed and authoritative paper yet produced on how to introduce a Scottish currency in the event of independence.


Backing Scotland’s Currency – Foreign Exchange Reserves for an Independent Scotland

Author / Creator: Peter Ryan

Media type: Policy Paper

Date published:

Examining how an independent Scotland could back and defend a Scottish currency. Rereign reserves can be backed by debt and asset negotition, Sterling currency in circulation in Scotland, foreign exchange swaps with the Bank of England, and issuing Euro bonds.


A Silver Chain – A Critique of the Sustainable Growth Commission’s Monetary Policy Recommendations

Author / Creator: Craig Dalzell

Media type: Review

Date published: June 2018

In May 2018 the Sustainable Growth Commission made its final report, presented as a series of recommendations on the economic, fiscal and monetary case for Scottish independence. This document does not cover the full gamut of policies which would be directly affected by independence nor does it cover the full range of institution building required by a nascent independent state. The report discusses the creation of a “Central Bank”, but creation of other institutions such as energy regulators, customs and borders agencies and foreign and diplomatic services lay outwith its remit.


Scotland’s Fiscal Future

Author / Creator: Craig Dalzell

Media type: Policy Paper

Date published:

The quest for GDP and GDP Growth is not sustainable in a finite world.  Metrics such as environmental impact, inequality and wellbeing are far more important and only by elevating them above the quest for “growth at all costs” can a truly fair and sustainable Scotland be created.


Scottish Currency Options Post-Brexit

Author / Creator: Craig Dalzell

Media type: Policy Paper

Date published: July 2016

Setting up a new currency, if an independent Scotland chooses to do so, will involve planning but the steps involved are well understood. Currency options include a formal currency union with either Sterling or the Eurozone; Unilateral use of either currency; or a new Scottish currency. The recommendation is for an independent £Scot


ScotPound: Digital Money for the Common Good

Author / Creator: New Ecconomics Foundation

Media type: Policy Paper

Date published:

The introduction of a digital currency with a new payment system would provide the world’s first publicly owned, not-for-profit national payment system.  It would enable Scottish businesses to accept payments without being charged fees by banks and credit card firms. It would be available to all with mobile phones. It would demonstrate that a new national currency can be created and implemented


The introduction plan for the new Scottish Currency

Author / Creator: Tim Rideout

Media type: Policy Paper

Date published: 2020

The introduction of a new currency needs to account for customer deposits and loans and the Sterling pensions guarantee.


Currency Tests

Author / Creator: Tim Rideout

Media type: Policy Paper

Date published: 2020

The Sustainable Growth Commission's tests for to establish a new currency are flawed.  A new 7-point set of tests are proposed.


Support for Independence drops significantly if Scotland were to join Euro

Author / Creator: Edward Malnick

Media type: Newspaper article

Date published:

40% Scots less likely to support Independence if Scotland had to join the Euro.


Can an independent Scotland lead the way with MMT?

Author / Creator: The Stirling Wolf

Media type: Blog artcle

Date published:

Putting aside the obvious democratic deficit that independence removes, what we also want to achieve is better schools, hospitals, research and development, infrastructure, public transport, policing and more. We want a better quality of life. Yet with every debate around independence there is always one factor that concerns individuals. The cost. 

Is MMT the solution?