The pound in your pocket.


We all have a notional idea of what money is, ideas that may not extend beyond its existence as the pound in our pocket. We certainly understand the purchasing power of any monies we may have. It would seem that any notion of money only becomes complicated when we talk to economists; who are clearly divided in their views of what money is and what form it should take. An economist would want to us to be more precise about our idea of what money is. Read more of this post

Fish Royal


Pudding Magna; located on Pudding Bay in the county of Dorset, and inhabited by lowly fisher-folk of modest means, is not referred to in any works by Mr. Thomas Hardy. Its obscurity assured had not Sir Ethelred  Rutt K.C. acted on behalf of Pudding Magna’s loyal subjects in a case against The Crown, when, on June 21st 1924, a dead whale was washed up on the shore of Pudding Bay. Being a Fish Royal and belonging to The Crown, Pudding Magna’s loyal subjects extracted the whalebone, the blubber and other valuable and perishable portions from the carcass of the whale, to hold in trust for The Crown. Read more of this post

Tinrib, Rumble, and others v. The Crown


Tinrib, Rumble, and others v. The King and Queen – Fish Royal

(Before Mr. Justice Wool)

In this unusual action, the hearing of which was begun to-day, an interesting point is raised concerning the rights and duties of thc Crown in connexion with a dead whale. Read more of this post

Beggars are coming to town.


The Tudor Age (1485 – 1603), especially during the reign of Henry VIII, was a period of great social upheaval. The Act of Supremacy coupled with the dissolution of the monasteries, the enclosures of common land and the great debasement, affected all strata of English society.  The wealth of English landowners vastly increased, as did the size of their farms and estates, but the effect on those not owning land and the hired labour, especially in rural communities, was catastrophic. Vagrancy became endemic as a largely self-sufficient, if often subsistent, rural culture effectively ended. The rural dispossessed swelled the bands of those regarded as idle vagabonds, who roamed the country plaguing all communities in England. Crime increased, as did the indigent population of English towns and cities. The punishments for vagrancy introduced after the Peasants Revolt of 1381, and meted out to the indigent considered to be deliberately indolent, were made even harsher. Read more of this post

The National Insurance Fund


The National Insurance Fund (pdf) intended to give claimants a sense of dignity and self-respect, in that National Insurance Contributions paid into the National Insurance Fund (Fund) would cover the cost of any benefits received. The National Insurance Contributions (NICs) made into the Fund were not to be means-tested. The intention was to give people an incentive to take extra steps, such as saving, thus providing themselves with more than the minimum benefit entitlement advocated in the Beveridge  Social Insurance and Allied Services report (pdf). Read more of this post

“The Piper at the Gates of Dawn”


The recent flooding in Britain brought the author Cowper to mind. No: not the poet William Cowper, nor  John Cowper Powys who was a prolific novelist, essayist, letter writer, poet and philosopher; a writer of enormous scope, complexity, profundity and humour. Rather, John Middleton Murray who mostly wrote science fiction under the pen name of Richard Cowper, writing Profundis with much humour. Read more of this post

2013 in review


The WordPress.com stats helper monkeys prepared a 2013 annual report for this blog.

Here’s an excerpt:

A San Francisco cable car holds 60 people. This blog was viewed about 2,100 times in 2013. If it were a cable car, it would take about 35 trips to carry that many people.

Click here to see the complete report.

Seasons Greetings 2013


My best wishes to you all, especially today. For a while it seemed that we were to have a Shakespearean winter here in Somerset. We have been spared the icicles hanging from the wall so far, however I was reminded of Winter by William Shakespeare – a closing song in Love’s Labour’s Lost. Read more of this post

Social Welfare Misfeasance?


Income tax, National Insurance contributions (NICs) and value added tax (VAT) are the largest single sources of revenue for the government, accounting for 60% of the 2013 fiscal tax revenue. The following chart (BUDGET 2013: Tax, spending and borrowing) shows a fiscal tax revenue of £612bn and a fiscal expenditure of £720bn, with the budget deficit being met by £108bn government borrowing .

Read more of this post

Debt and Taxation


The role that economic theory plays in the ‘creation of money’ and the role played by all politicians in the manipulation of ‘economic theory’ for the purpose of a fiscal policy, bear little relationship to the social responsibility that Drucker applied to a private enterprise.

“The first responsibility of business is to make enough profit to cover the costs for the future. If this social responsibility is not met, no other social responsibility can be met.”

Peter F. Drucker, The Practice of Management (1954)

Read more of this post

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