Seeking A Currency for an Independent Scotland

Greater Glasgow P4Indy invited Andy Anderson to an online meeting to talk about the currency options in an independent Scotland. Andy is well-known in the Yes Movement. He became active in seeking to explain the various currency options after he witnessed the currency bourach that emerged during the 2014 campaign. He has published several books on the subject. He leads small study groups on his ideas and the thinking behind them. And in this Covid pandemic he has moved to digital meetings and digital study groups!

You can listen to the talk and the Q&As afterwards here:

Pensioners for Independence
Pensioners for Independence
Andy Anderson: Currency in an Independent Scotland

Here are some of the questions we asked Andy:

  • How would we set up an economic plan now in the way that Attlee and Keynes did after WW2?
  • What’s the Keynesian multiplier
  • Attlee did it by investing mostly in projects in public ownership but if you do the same thing but using private companies, say for a power plant, do you still get the multiplier effect?
  • You mentioned the idea that the big internationally traded currencies may be in trouble, could you amplify that please?
  • Setting up a central bank, Estonia very quickly set one up and their own currency. Is it possible to set up a central bank now to give us some of the infrastructure in place?
  • Will there be similarities between the Scottish pound and the way the Manx pound works? Or in NI?
  • What went wrong in 1970s after all the good work that Attlee & Keynes did?
  • State pensions were an issue in 2014, what’s the best way now to respond to people who are convened about their pensions?
  • Building big infrastructure – what if it goes to a foreign company? doesn’t that mean that the money goes out of the country and we don’t get the multiplier effect?
  • Is there a multiplier problem with people buying things online from outside of the country?
  • Going on what you said in your talk, would  increases in pensions and perhaps introducing a basic income provide a good stimulus to the economy?

You can find out more from Andy’s website here.