William Thomson
@williameconomist.bsky.social
Political Economist and Scottish Republican. Founder of Scotonomics. www.scotonomics.scot. MSc Green Economy. M.Econ Economics of Sustainability. A troublemaker spreading radical ideas.
This helps reframe our conversations about 'the bond market' and mythical 'bond vigilantes'. Every pound used to purchase a UK government bond has come from previous UK government deficit spending. 1/6
September 27, 2025 at 11:07 AM
This helps reframe our conversations about 'the bond market' and mythical 'bond vigilantes'. Every pound used to purchase a UK government bond has come from previous UK government deficit spending. 1/6
I chaired a great panel discussing how the #MMT lens can be used to explain and explore the reasons behind the crushing of NHS budgets. www.patreon.com/posts/how-mm... Link to my introductory marks.
September 15, 2025 at 7:26 PM
I chaired a great panel discussing how the #MMT lens can be used to explain and explore the reasons behind the crushing of NHS budgets. www.patreon.com/posts/how-mm... Link to my introductory marks.
Did you know that, each year, on average, around £10 billion more leaves Scotland in income than flows back in? Add Scotland's negative trade balance, and the foreign sector runs a substantial surplus with Scotland. The fiscal balance reacts to the foreign sector. 8/10
August 19, 2025 at 3:02 PM
Did you know that, each year, on average, around £10 billion more leaves Scotland in income than flows back in? Add Scotland's negative trade balance, and the foreign sector runs a substantial surplus with Scotland. The fiscal balance reacts to the foreign sector. 8/10
Together with German economist @dirkehnts.bsky.social, an expert on the EU's fiscal rules and monetary operations, we worked through the decision to shrink Scotland's fiscal deficit from 10% (2008-25 average) to the 3% SGP limit. See the challenge below! 2/10
August 19, 2025 at 3:02 PM
Together with German economist @dirkehnts.bsky.social, an expert on the EU's fiscal rules and monetary operations, we worked through the decision to shrink Scotland's fiscal deficit from 10% (2008-25 average) to the 3% SGP limit. See the challenge below! 2/10
I am presenting an hour long introduction to #MMT tonight. A couple of books on hard incase any difficult questions or quotes are required!
July 11, 2025 at 1:37 PM
I am presenting an hour long introduction to #MMT tonight. A couple of books on hard incase any difficult questions or quotes are required!
Taking an institutional approach to the idea that global South nations are 'balance of payments constrained'.
June 16, 2025 at 9:20 PM
Taking an institutional approach to the idea that global South nations are 'balance of payments constrained'.
This illustrates simply that at some point, the economy must stop growing: our ecosystem is fixed. Here is a more detailed view of that model from an ecological economics perspective. This is important because it demonstrates that time has a significant impact on a system. 6/10
June 9, 2025 at 9:39 AM
This illustrates simply that at some point, the economy must stop growing: our ecosystem is fixed. Here is a more detailed view of that model from an ecological economics perspective. This is important because it demonstrates that time has a significant impact on a system. 6/10
Here is a very simplified model from a heterodox perspective. It highlights that the economy is a social construct. It does not sit separately from society, with one influencing the other. It is created and, therefore, can be altered by our society. 4/10
June 9, 2025 at 9:39 AM
Here is a very simplified model from a heterodox perspective. It highlights that the economy is a social construct. It does not sit separately from society, with one influencing the other. It is created and, therefore, can be altered by our society. 4/10
Last week @Williamgallus gave a presentation to the Aberdeen Climate Cafe. Here is his first slide, which illustrates how the neoclassical model views the connection between society, the economy, and the environment. It sees them as three separate areas. 2/10
June 9, 2025 at 9:38 AM
Last week @Williamgallus gave a presentation to the Aberdeen Climate Cafe. Here is his first slide, which illustrates how the neoclassical model views the connection between society, the economy, and the environment. It sees them as three separate areas. 2/10
Connecting the climate crisis to the role of the orthodox or mainstream economic view is an essential first step in solving the mess we are in. A thread explaining the dangers of the mainstream economic madness. 1/ 10
June 9, 2025 at 9:38 AM
Connecting the climate crisis to the role of the orthodox or mainstream economic view is an essential first step in solving the mess we are in. A thread explaining the dangers of the mainstream economic madness. 1/ 10
According to Scottish Government figures, “In 2021, Scotland’s Primary Income Account showed a net outflow of £10.1 billion, or 5.6% of GDP” and "“The largest outflows was returns on direct investment (3.2% GDP)". 4/7
May 21, 2025 at 2:45 PM
According to Scottish Government figures, “In 2021, Scotland’s Primary Income Account showed a net outflow of £10.1 billion, or 5.6% of GDP” and "“The largest outflows was returns on direct investment (3.2% GDP)". 4/7
The Economics of Independence for Scotland and Wales – Monetary Sovereignty
Understanding the importance of issuing your own currency in an independent Scotland and Wales. Event: Glasgow 11th July. scotonomics.scot/event/the-ec...
Understanding the importance of issuing your own currency in an independent Scotland and Wales. Event: Glasgow 11th July. scotonomics.scot/event/the-ec...
May 20, 2025 at 10:11 AM
The Economics of Independence for Scotland and Wales – Monetary Sovereignty
Understanding the importance of issuing your own currency in an independent Scotland and Wales. Event: Glasgow 11th July. scotonomics.scot/event/the-ec...
Understanding the importance of issuing your own currency in an independent Scotland and Wales. Event: Glasgow 11th July. scotonomics.scot/event/the-ec...
Welsh bucket hat getting an outing again this weekend. Glasgow this time.
May 3, 2025 at 12:49 PM
Welsh bucket hat getting an outing again this weekend. Glasgow this time.
Lots of fun at the @YesCymru march in Barry today. Beautiful part of the UK and amazing to see a few 1000 indy supporters walking down and then back up those bloody big Barry hills!
April 26, 2025 at 9:04 PM
Lots of fun at the @YesCymru march in Barry today. Beautiful part of the UK and amazing to see a few 1000 indy supporters walking down and then back up those bloody big Barry hills!
Sure, that sounds very realistic. Would love to see your timeline.
April 13, 2025 at 10:47 AM
Sure, that sounds very realistic. Would love to see your timeline.
Mucking about at Stirling Albion today. 1 nil down at h/t. Come back on the cards though.
April 12, 2025 at 2:58 PM
Mucking about at Stirling Albion today. 1 nil down at h/t. Come back on the cards though.
8 brilliant sessions from our festival available now *ON DEMAND* for only a tenner. www.patreon.com/collection/1...
April 9, 2025 at 4:18 PM
8 brilliant sessions from our festival available now *ON DEMAND* for only a tenner. www.patreon.com/collection/1...
Interested in #MMT related events in the UK? mailchi.mp/e79762799a16... Sign up here. Two events in London over the summer. And more to come across the UK before the end of the year.
April 8, 2025 at 6:37 PM
Interested in #MMT related events in the UK? mailchi.mp/e79762799a16... Sign up here. Two events in London over the summer. And more to come across the UK before the end of the year.
@fadhelkaboub.bsky.social consideirng the Global South and also in a way reflecting the position with the Labour adminstration in the UK right now.
April 1, 2025 at 5:57 PM
@fadhelkaboub.bsky.social consideirng the Global South and also in a way reflecting the position with the Labour adminstration in the UK right now.
"Fairly simple reforms" that's all we need. Most of the changes @richardjmurphy.bsky.social suggests could have been done during the build up to the Spring Statement. But instead we have a growing chorus for a specific wealth tax something that would take years (if ever) to implement.
March 31, 2025 at 11:59 AM
"Fairly simple reforms" that's all we need. Most of the changes @richardjmurphy.bsky.social suggests could have been done during the build up to the Spring Statement. But instead we have a growing chorus for a specific wealth tax something that would take years (if ever) to implement.
This annoys all the right people. Social values and ethical standards are different in Scotland than in the rest of the UK. Hats off to the Scottish Government's consistent plan and actions to reduce child poverty.
March 31, 2025 at 9:01 AM
This annoys all the right people. Social values and ethical standards are different in Scotland than in the rest of the UK. Hats off to the Scottish Government's consistent plan and actions to reduce child poverty.