Uncovering the logical absurdity of the balanced budget Jim Byrne Imagine, in the mists of time, you are the UK Chancellor and you are putting…
Economic Reform Australia (ERA) Feed Items
Australia’s credit rating is irrelevant. Ignore it
—Australia’s credit rating is irrelevant. Ignore it Steven Hail and Matthew Crocker Australia guards its AAA credit rating with care. Successive governments from both sides…
Physics envy – a sure way to make economics useless
—Physics envy — a sure way to make economics useless Lars Syll “In the 1930s, Lionel Robbins laid down the basic commandments of the discipline…
Before the budget: How Governor Phillip managed without cash in the colony
—Before the budget: How Governor Phillip managed without cash in the colony Matthew Crocker On January 18 1788, Captain Arthur Phillip and the ships of…
MMT and Doughnut Economics: A Foundation for Dialogue
—MMT and Doughnut Economics: A Foundation for Dialogue Stephen Hinton Introduction At first glance, MMT (Modern Monetary Theory) and Doughnut Economics might appear to come…
$39 trillion and a plan that won’t work
—$39 trillion and a plan that won’t work Steve Keen Kevin Walsh, the next U.S. Fed chairman, wants to cancel $39 trillion in government debt.…
The myth of the debt trap vs the reality of public purpose
—The myth of the debt trap vs the reality of public purpose Darren Quinn Government bonds aren’t a national credit card; they are a ceremonial…
Who’s rorting who? The failure of outsourced job services
—Who’s rorting who? The failure of outsourced job services Centre for International Corporate Tax Accountability and Research A CICTAR REPORT I JULY 2026 Who’s rorting…
Britain’s security establishment has discovered the ecological crisis
—Britain’s security establishment has discovered the ecological crisis Julian Cribb A UK national security assessment warns that ecosystem collapse threatens food, water, health and geopolitical…
Is the U.S. Federal Reserve privately owned?
—Is the U.S. Federal Reserve privately owned? Editor There have been ongoing disputes concerning the extent of independence and ownership status of the U.S. Federal…
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…
Eight economic myths that are helping destroy our future
—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.…
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…
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…
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…
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…
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…
“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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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…
The post Why Minsky still matters appeared first on Economic Reform Australia.
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…
The post Why the rich don’t pay taxes appeared first on Economic Reform Australia.
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…
The post US war on Iran shows renewable energy is an inflation management tool [1] appeared first on Economic Reform Australia.
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…
The post We don’t need billionaires, and we can structure the market so we don’t have them appeared first on Economic Reform Australia.
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.
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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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.
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…
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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.
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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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…
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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.
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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