Rethinking Income and Money

“Just the book to replace old failed economic thinking with fresh ideas about the income and investment we need.” – Neal Lawson, Executive Director, Compass “A novel and interesting approach to some fundamental economic questions.” – Vince Cable, Secretary of State for Business, Innovation and Skills 2010-2015 ”A bold and necessary re-examination of contemporary economic paradigms, addressing critical issues of income inadequacy, debt dependency, and the transformative role of technology.” – Saite Lu, Mead Fellow and Director of Studies in Economics, Emmanuel College, Cambridge “One of today’s most provocative economic thinkers.” – Stewart Lansley, author of The Richer, The Poorer ”A distinctive voice in monetary theory and social policy debates.” – Malcolm Torry, Visiting Fellow, Institute for Policy Research, University of Bath “Geoff Crocker courageously explores the relationship between income, money and technology in this well-documented and well-argued book.”– Slavo Radosevic, Professor of Innovation Studies, University College London This Palgrave Pivot is immensely relevant to current policy debates on poverty, welfare policy, monetary policy, and the impact of automation. Geoff Crocker offers a radical re-interpretation of economic theory, specifically of income, money, and technology. The book explores alternative economic paradigms, focusing on the urgent need to get adequate income to all households, whilst reducing national debt. Technology is essential for the understanding of economic outcomes, since consumption, production, employment, distribution, and transactions all shift radically with technological change. Major policy proposals include hybrid welfare schemes with reduced conditionality, an element of universal income, and a proposal for direct money financing of government expenditure, all without stoking inflation. This book will appeal to economists, policy analysts, economic journalists, and others who are interested in radical restructuring of the economy. Geoff Crocker graduated in economics, followed by a master’s degree in the philosophy of science. He worked internationally in industry strategy for more than 25 years. His previous books include A Managerial Philosophy of Technology (Palgrave 2012) and Basic Income and Sovereign Money: The Alternative to Economic Crisis and Austerity Policy (Palgrave 2020).