On money and banking Ted Trainer Much of the last ERA Review was on money and the banking system, but I do not think that…
The post Letter from: Dr Ted Trainer (NSW) On money and banking first appeared on Economic Reform Australia.Economic Reform Australia (ERA) Feed Items
What makes Modern Monetary Theory different?
—What makes Modern Monetary Theory different? Jim Byrne It is the methodological approach that makes Modern Monetary Theory (MMT) different. It is this approach that…
The post What makes Modern Monetary Theory different? first appeared on Economic Reform Australia.The Economist’s latest piece on tipping points is a wake-up call for policymakers and CFOs
—The Economist’s latest piece on tipping points is a wake-up call for policymakers and CFOs Scott Kelly The article in The Economist – “Earth’s climate…
The post The Economist’s latest piece on tipping points is a wake-up call for policymakers and CFOs first appeared on Economic Reform Australia.Modern Monetary Theory and taxation
—Modern Monetary Theory and taxation Gregory John Olsen (ERA FB Discussion Group) The Federal Treasurer’s Economic Reform Round Table has missed the most important fact…
The post Modern Monetary Theory and taxation first appeared on Economic Reform Australia.DeLong steps in it The efficient market hypothesis
—DeLong steps in it The efficient market hypothesis Peter Radford This is a second stab at a question that vexes me … I have been…
The post DeLong steps in it The efficient market hypothesis first appeared on Economic Reform Australia.China’s greening steel industry signals an economic reality check for Australia
—China’s greening steel industry signals an economic reality check for Australia Christoph Nedopil Australia has flourished as an export powerhouse for decades. Much of this…
The post China’s greening steel industry signals an economic reality check for Australia first appeared on Economic Reform Australia.Things we should own together Artificial Intelligence
—Things we should own together Artificial Intelligence John Alt If we project the logical trajectory of artificial intelligence (AI) it seems to be unavoidable that…
The post Things we should own together Artificial Intelligence first appeared on Economic Reform Australia.Ultra-fast fashion could be taxed to oblivion in France
—Ultra-fast fashion could be taxed to oblivion in France – Could Australia follow suit? Rowena Maguire For centuries, clothes were hard to produce and expensive.…
The post Ultra-fast fashion could be taxed to oblivion in France first appeared on Economic Reform Australia.The physical hazards of nuclear energy
—The physical hazards of nuclear energy Mark Diesendorf The debate about the economics of nuclear energy versus renewable energy has distracted politicians, the media and…
Slashing support: How the NDIS is leaving the most vulnerable behind
—Slashing support: How the NDIS is leaving the most vulnerable behind James Rosier As funding cuts take hold, the NDIS is drifting further from its…
The post Slashing support: How the NDIS is leaving the most vulnerable behind first appeared on Economic Reform Australia.Why it’s important that young unemployed Australians get a good job instead of just ‘any’ job
—Why it’s important that young unemployed Australians get a good job instead of just ‘any’ job Brendan Churchill We often hear young people need to…
The post Why it’s important that young unemployed Australians get a good job instead of just ‘any’ job first appeared on Economic Reform Australia.Further thoughts on John Alt’s article
—Further thoughts on John Alt’s article Editor It might be helpful to recognise that Premise #2 is a good basis for describing the financial operations…
Understatement of unemployment
—Understatement of unemployment John Haly In Australia, the media and government utilise Australian Bureau of Statistics (ABS) unemployment statistics. These indicate that the jobless rate…
Rethinking public debt
—Rethinking public debt Lars Syll Few issues in politics and economics are nowadays more discussed — and less understood — than public debt. Many raise…
Milei’s “Radical Plan”, revisited – part 2
—Milei’s “Radical Plan”, revisited – part 2 Peter Rock-Lacroix In 2023, Javier Milei pitched dollarization as the path toward prosperity for Argentina. Two years on,…
What Quantitative Easing is and the “purpose” behind it
—What Quantitative Easing is and the “purpose” behind it Ellis Winningham Quantitative Easing (QE) is nothing more than an asset swap for reserve* liquidity. Orthodoxy,…
The Return of Full Employment – part 2
—The Return of Full Employment – part 2 Steven Hail It seems absurd to manage the economy on the basis that it is essential to…
How monetary myths conceal power
—How monetary myths conceal power Asad Zaman Modern economics rests on a dangerous illusion: that abstract, universal laws – derived primarily from the European experience…
Howl of frustration
—Howl of frustration John Alt I recently received a plaintive howl from someone who had just finished viewing my five Video-Diagrams: “How”, he agonized, “can…
Mainstream economics – kick it over!
—Mainstream economics – kick it over! Extract from an article by David Wilson The more I learned about economics, the more I discovered a landscape…
Comments on the previous article by Harry Chemay
—Comments on the previous article by Harry Chemay Wayne McMillan In the previous article, Harry Chemay has faithfully kept to the findings and conclusions from…
The popular misunderstanding of money
—The popular misunderstanding of money John D Alt A general observation that’s easy to make is how our habitual misunderstanding of Modern Fiat Money divides…
The return of full employment – part 1
—The return of full employment – part 1 Steven Hail How the unemployed became a tool to discipline workers and keep wages down, and why…
Casino capitalism
—Casino Capitalism Lars Syll According to Keynes, financial crises are a recurring feature of our economy and are linked to its fundamental financial instability: “It…
Wealth inequality – housing cost is hollowing out middle Australia
—Wealth inequality housing cost is hollowing out middle Australia Harry Chemay Australians are among the wealthiest people, yet life has never felt harder for many.…
Milei’s “radical plan”, revisited – part 1
—Milei’s “radical plan”, revisited – part 1 Peter Rock-Lacroix In 2023, Javier Milei pitched dollarization as the path toward prosperity for Argentina. Two years on,…
Recommended paper: Funding of the energy transition by monetary sovereign countries: Energies
—Recommended paper: Funding of the energy transition by monetary sovereign countries: Energies Mark Diesendorf and Steven Hail Abstract of paper: If global energy consumption returns…
Can Citizen Assemblies save democracy?
—Can Citizen Assemblies save democracy? Peter G. Martin Global wealth inequality is accelerating at alarming rates, driving a political ferment that many consider underlies the…
Patents and the Abundance Agenda
—Patents and the Abundance Agenda Dean Baker I haven’t read Ezra Klein and Derek Thompson’s new book Abundance, but everyone I know seems to be…
NAIRU — a harmful fairy tale
—NAIRU — a harmful fairy tale Lars Syll The NAIRU story has always had a very clear policy implication – every attempt to promote full…
Toward sustainable economies
—Toward sustainable economies Anastasia Pseiridis Creating economies that do not devastate the natural world on which they depend is the economic challenge of the 21st…
It’s the End of the World and I Don’t Feel Fine
—It’s the End of the World and I Don’t Feel Fine Pete Dolack Fredric Jameson is no longer here to remind us that imagining the…
Global EV Sales Have Soared, but Buckle Up for a ‘Weird Moment’ in the U.S. Market
—Global EV Sales Have Soared, but Buckle Up for a ‘Weird Moment’ in the U.S. Market Dan Gearino Electric vehicle sales slowed in the United…
Trade isn’t money for nothing
—Trade isn’t money for nothing Stephanie Kelton On 16 December 2024, the president-elect Donald Trump returned to a familiar grievance: accusing our trading partners of…
Universities: dead, buried and cremated?
—Universities: dead, buried and cremated? Geoff Davies In the late nineties, the management of the Australian National University was attacking its academic staff. That may…
In praise of government consumption
—In praise of government consumption Merijn Knibbe DOGE, a new branch of the U.S. government, does not escape the Iron Law of Bureaucracy. It is…
Badly confused trade policy: the story of supply and demand
—Badly confused trade policy: the story of supply and demand Dean Baker Donald Trump is the world’s leading expert in getting things wrong and one…
Busting the ‘natural rate of unemployment’ myth
—Busting the ‘natural rate of unemployment’ myth Lars Syll Sixty years ago Milton Friedman wrote an (in)famous article arguing that (1) the natural rate of…
Superannuation is complicated
—Superannuation is complicated A guaranteed government income in retirement would be simpler – Brendan Coates and Joey Moloney Stress prompts many to under-spend superannuation For…
Building humane alternatives to homo economicus
—Building humane alternatives to homo economicus Asad Zaman Introduction: As discussed in my recent article on self-knowledge as the key to understanding society (see ERA…
Deliberative Democracy
—Deliberative Democracy Peter Martin At a time when many people are losing faith in the ability of our current political system and parties to deliver…
Australia needs better ways of storing renewable electricity for later
—Australia needs better ways of storing renewable electricity for later. That’s where ‘flow batteries’ can help Maria Skyllas-Kazacos As more and more solar and wind…
Can anyone concisely propose a theory of systems change?
—Can anyone concisely propose a theory of systems change? Wayne McMillan This is an answer by Nate Hagens from a Linkedin question asked by a…
To save the planet: Disable this global consumer-corporate machine
—To save the planet: Disable this global consumer-corporate machine Geoff Davies The global consumer-capitalist machine is well-programmed to consume the planet in its quest to…
What is Modern Monetary Theory?
—What is Modern Monetary Theory? William Thomson Every idea, concept or school of thought can be boiled down to its basics. This is useful when…
Mainstream distribution myths
—Mainstream distribution myths Lars Syll Extracted from Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer, by…
Consumption is driving global greenhouse gas emissions
—Consumption is driving global greenhouse gas emissions Mark Diesendorf Patrick Mazza has offered [1] a valuable analysis of China’s contribution to global greenhouse gas (GHG)…
2024 Nobel Prize for economics
—2024 Nobel Prize for economics Revealing the bankruptcy of conventional economics Ted Trainer The 2024 Nobel Prize for economics has gone to two economists for…
I Have Learned A Few Things
—I Have Learned A Few Things Caitlin Johnstone I have learned a few things in my time on this earth. Not many, but a few.…
More coal and gas, less renewables
—More coal and gas, less renewables: what a nuclear power plan for Australia would really mean John Quiggin The federal opposition leader’s plan for nuclear…