Eight economic myths that are helping destroy our future Mark Diesendorf Eight persistent economic myths help protect vested interests, deepen inequality and accelerate environmental destruction.…
Economic Reform Australia (ERA) Feed Items
What Do Unemployed Workers Want: Guaranteed Jobs or Guaranteed Income?
—Publication Review What Do Unemployed Workers Want: Guaranteed Jobs or Guaranteed Income? by Lukas Lehner (University of Edinburgh) [1] An analysis of the specific preferences…
More economic myths that are holding us back
—More economic myths that are holding us back Geoff Davies Markets are often treated as if they naturally maximise public benefit, but they can just…
The Curse of the Sincere Believer
—The Curse of the Sincere Believer Steve Keen “Don’t overrate sincerity,” a voice boomed from the back of the room. “The most sincere person you’ll…
Private debt crashed the economy in 2008. They still are not watching it.
—Private debt crashed the economy in 2008. They still are not watching it. Summary of a recent video by Steve Keen [1] See Steve’s break…
The OECD’s China Credit Critique Gets the Question Wrong
—The OECD’s China Credit Critique Gets the Question Wrong Contours of a socialist financial system – Warwick Powell Preface: there’s been something of a concerted campaign…
New supply won’t fix housing while investors keep winning
—New supply won’t fix housing while investors keep winning Gavin A. Wood, Rachel Ong ViforJ , Christopher Phelps, Susan J Smith To fix the housing…
The end of oil?
—The end of oil? As fuel shocks cascade, 53 nations gather to plan a fossil fuel phaseout Wesley Morgan and Ben Newell US President Donald…
The economics of global warfare
—The economics of global warfare Summarising Robinson Erhardt’s interview with Steve Keen [1,2] Prof Steve Keen argues that global warfare and geopolitical conflicts can trigger…
We’re building a New York-sized city every month. That’s worrying for our climate
—We’re building a New York-sized city every month. That’s worrying for our climate Philip Oldfield and William Craft Each of us needs of a roof…
Fossil fuel myths are slowing the energy transition
—Fossil fuel myths are slowing the energy transition Mark Diesendorf Misleading claims about renewables, backed by the influence of the fossil fuel industry, are slowing…
A real ‘intergenerational equity’ budget would address our unceasing environmental decline
—A real ‘intergenerational equity’ budget would address our unceasing environmental decline Timothy Neal Recently the Australian federal government unveiled a budget designed to tackle intergenerational…
AEMO should be split in two
—AEMO should be split in two, transmission put in public ownership in new push for overhaul of “failed” NEM Sophie Vorrath The Australian energy market…
Australia still needs a real national housing strategy
—Australia still needs a real national housing strategy Hal Pawson and Chris Martin Labor’s capital gains tax and negative gearing reforms are a major step…
Thinking about the genuine progress indicator
—Thinking about the genuine progress indicator Steven Hail Genuine Progress Indicator (GPI) studies provide a monetary valuation of the net benefits of economic activity, once…
Steve Keen on what caused the Great Depression and the 2008 Financial Crisis
—Steve Keen on what caused the Great Depression and the 2008 Financial Crisis Google AI Overview [1] According to economist Steve Keen, both the Great…
To avoid future road, rail and renewable blowouts costing billions
—To avoid future road, rail and renewable blowouts costing billions, Australia needs these three big fixes Dominic D Ahiaga-Dagbui Australia has a remarkably poor record…
Will Private Credit have a ‘Minsky Moment’
—Will Private Credit have a ‘Minsky Moment’ Alan Prout The Financial Review, Australia’s daily business paper, reported in November 2025 that the Australian Securities and…
Comments on Australia’s rising house prices
—Comments on Australia’s rising house prices Steve Keen Extracted from a LinkedIn posting and Youtube video [1] Australia’s housing obsession is one of its greatest…
“War-Shock Inflation” and Inflation Phobia
—“War-Shock Inflation” and Inflation Phobia: Lessons of History for Central Bankers – Anis Chowdhury What can central bankers learn from the 1970s stagflation? The global…
Recommended video: Are we at a Galileo moment in economics?
—Recommended video: Are we at a Galileo moment in economics? Richard Murphy What if everything you think about money is wrong? And does it matter…
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Comparative economic evolution of three countries
—Comparative economic evolution of three countries – and how to improve New Zealand’s mismanaged economy Steven Hail Steven Hail argues that New Zealand is enduring…
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US war on Iran shows renewable energy is an inflation management tool [1]
—US war on Iran shows renewable energy is an inflation management tool [1] Ingrid Walker The growing energy crisis shows that fossil fuels present a…
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We don’t need billionaires, and we can structure the market so we don’t have them
—We don’t need billionaires, and we can structure the market so we don’t have them Extracted from an article by Dean Baker [1] The Economist…
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Why Minsky still matters
—Why Minsky still matters Lars Syll Perhaps the foremost financial crisis theorist of our time, Hyman Minsky, had as his central idea that crises are…
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Neoclassical economics vs MMT on the status of savings
—Neoclassical economics vs MMT on the status of savings Jim Byrne The following link – https://www.linkedin.com/feed [1 ] – which appeared on 1 Apr 2026…
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Why the rich don’t pay taxes
—Why the rich don’t pay taxes Lars Syll Beneath the civic ideal of taxation as a collective, equitable endeavour lies an entrenched hypocrisy: the architecture…
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On The Wealth of Nations
—On The Wealth of Nations Susan Borden 250 years on, Jason Furman’s essay goes wrong, not in what it says about Adam Smith, but in…
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This is the end of the U.S. global monetary system
—This is the end of the U.S. global monetary system Steve Keen The US-dollar-based international monetary system will not survive this Presidency. There is, of…
The post This is the end of the U.S. global monetary system appeared first on Economic Reform Australia.
The Global Financial Crisis from a flawed neoclassical perspective
—The Global Financial Crisis from a flawed neoclassical perspective Steve Keen This is a critique by Steve Keen of Lee Ohanian’s paper “The economic crisis…
The post The Global Financial Crisis from a flawed neoclassical perspective appeared first on Economic Reform Australia.
Uncertainty is central to Keynesian economics
—Uncertainty is central to Keynesian economics Steven Hail This item is extracted from Steven Hail’s 2018 book Economics for Sustainable Prosperity. The discussion relates to…
The post Uncertainty is central to Keynesian economics appeared first on Economic Reform Australia.
Wealth taxes don’t go far enough
—Wealth taxes don’t go far enough: Let’s transform our economy with public money Sheridan Kates Wealth taxes are crucial to build an economy that works for…
The post Wealth taxes don’t go far enough appeared first on Economic Reform Australia.
Can MMT save AI from catastrophe?
—Can MMT save AI from catastrophe? John Alt A chief criticism of Modern Monetary Theory (MMT) is that it is inherently inflationary. The simple logic…
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Economics textbooks — scandalous intellectual dishonesty
—Economics textbooks — scandalous intellectual dishonesty Lars Syll It is well-known that Keynes frequently criticised more traditional economics for committing the ‘fallacy of composition’. This…
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Equations that mask inequality
—Equations that mask inequality Barbara Williams Students of economics learn obedience to equations that mask inequality. That thought hit me while reading “The Justice Lie”…
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A post-Keynesian discussion of US economic hegemony: resilience or decline? (Part 2)
—A post-Keynesian discussion of US economic hegemony: resilience or decline? (Part 2) Alan Prout In Part 1 we listed some long-term factors that contribute to…
The post A post-Keynesian discussion of US economic hegemony: resilience or decline? (Part 2) appeared first on Economic Reform Australia.
Kenneth Rogoff Is (almost) right about the importance of inflation
—Kenneth Rogoff Is (almost) right about the importance of inflation -but entirely wrong about its management Susan Borden America’s debt problem is not what Foreign…
The post Kenneth Rogoff Is (almost) right about the importance of inflation appeared first on Economic Reform Australia.
Empathy, morality, civilisation and resisting tyrants
—Empathy, morality, civilisation and resisting tyrants Geoff Davies Are we just selfish brutes who need to be civilised into social, moral behaviour? If not, where…
The post Empathy, morality, civilisation and resisting tyrants appeared first on Economic Reform Australia.
Renewables over 50%, wholesale prices down
—Renewables over 50%, wholesale prices down – is the energy transition … succeeding? Tony Wood Ten years ago, if a heatwave as intense as January’s record-breaker…
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Empathy, morality, civilisation and resisting tyrants
—Empathy, morality, civilisation and resisting tyrants Geoff Davies Are we just selfish brutes who need to be civilised into social, moral behaviour? If not, where…
The post Empathy, morality, civilisation and resisting tyrants appeared first on Economic Reform Australia.
The confident falsehoods of economists and the Nobel Prize
—The confident falsehoods of economists and the Nobel Prize Lars Syll Faced with economic theory’s apparent inability to address real economic and financial problems, economists…
The post The confident falsehoods of economists and the Nobel Prize appeared first on Economic Reform Australia.
A just transition can remake Australia if we choose to think bigger
—A just transition can remake Australia if we choose to think bigger Peter Hansford A “just energy transition” seeks to balance risks and benefits fairly,…
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From public good to corporate enterprise: The financialisation of universities (Part 2)
—From public good to corporate enterprise: The financialisation of universities (Part 2) John H Howard A dominant challenge for universities now is the expectation that…
The post From public good to corporate enterprise: The financialisation of universities (Part 2) appeared first on Economic Reform Australia.
A post-Keynesian discussion of US economic hegemony: resilience or decline? (Part 1)
—A post-Keynesian discussion of US economic hegemony: resilience or decline? (Part 1) Alan Prout Introduction Since 1945 the USA has, at least until recently, been…
The post A post-Keynesian discussion of US economic hegemony: resilience or decline? (Part 1) appeared first on Economic Reform Australia.
Recommended article: The service sector path to shared prosperity
—Recommended article: The service sector path to shared prosperity [1] Dani Rodrik We must address climate change, inequality, and poverty simultaneously, but prevailing economic approaches…
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What caused both the Great Depression and the 2008 crisis?
—What caused both the Great Depression and the 2008 crisis? Steve Keen Mainstream economists completely missed what caused both the Great Depression and the 2008…
The post What caused both the Great Depression and the 2008 crisis? appeared first on Economic Reform Australia.
From neoclassical economics to the masking of it with New-Keynesian economics
—From neoclassical economics to the masking of it with New-Keynesian economics Tyrone Keynes Economists often begin by making assumptions that bear little resemblance to reality.…
The post From neoclassical economics to the masking of it with New-Keynesian economics appeared first on Economic Reform Australia.
Economic myths
—Economic myths Mark Diesendorf The dominant economic system, capitalism, has the goal of generating profit through private ownership and control of the means of production.…
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The China dependency nobody talks about
—The China dependency nobody talks about: How smart countries build dumb export structures Darren Quinn Part 4 of my series on vulnerability-based monetary sovereignty Here’s…
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How to talk about it
—How to talk about it John Alt Framing MMT as a Part of Normative Society Zohran Mamdani [1] will soon be asked the question: How…
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