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…
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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 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 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) Alan Prout In Part 1 we listed some long-term factors that contribute to…
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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…
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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 Steven Hail This item is extracted from Steven Hail’s 2018 book Economics for Sustainable Prosperity. The discussion relates to…
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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 Geoff Davies Are we just selfish brutes who need to be civilised into social, moral behaviour? If not, where…
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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 Geoff Davies Are we just selfish brutes who need to be civilised into social, moral behaviour? If not, where…
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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…
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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.…
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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: 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 John Alt Framing MMT as a Part of Normative Society Zohran Mamdani [1] will soon be asked the question: How…
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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…
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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) John H Howard A dominant challenge for universities now is the expectation that…
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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…
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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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Ben Bernanke — the “expert” who got it all wrong Extracted from an article by Steve Keen [1] Ben Bernanke got the job as Federal…
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Getting rid of fossil fuels is really hard – and we’re not making much progress Martin Brueckner, Charles Roche and Tauel Harper If miners, the…
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The heart of mainstream economics Jim Byrne You need assumptions to build useful economic models – but those assumptions should not influence the results. I…
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From public good to corporate enterprise: The financialisation of universities- (Part I) John H Howard In recent months, Australian universities have been increasingly scrutinized over…
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Failures in privatised care starkly illustrate the inevitable failure of neoliberalism Geoff Davies The failures of privatised child care and aged care have starkly illustrated…
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Key policies for the energy transition Mark Diesendorf The federal government has released its 2035 greenhouse gas emissions target. However, more important than the target…
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When ‘sustainable’ fashion backfires on the environment Erez Yerushalmi and Krishnendu Saha The circular economy – the idea of “reduce, reuse and recycle” – has…
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Are business schools priming students for a world that no longer exists? Carla Liuzzo and Mimi Tsai Endless economic expansion isn’t sustainable. Scientists are telling…
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The Road Not Taken Lars Syll Had the whole discipline catastrophically misunderstood Keynes’ deeply revolutionary ideas? We heterodox economists, who have chosen the road less…
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Fifty years of political economics at Sydney University – what has it meant for us? Evan Jones Earlier this year The Journal of Australian Political…
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The hidden cost of rate hikes Darren Quinn When the Reserve Bank of Australia raises interest rates, it’s presented as a necessary, technical adjustment to…
The post The hidden cost of rate hikes first appeared on Economic Reform Australia.Financial markets cannot punish a sovereign government. Here’s why Steven Hail, Stephanie Kelton and Darren Quinn What the UK Mini-Budget Really Proved “You’ve got to…
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Open Letter to Ministers of Finance, Central Bank Governors, Governors and Alternate Governors of the World Bank Group and International Monetary Fund, and Leaders of…
The post Open Letter to Ministers of Finance, …. first appeared on Economic Reform Australia.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.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 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.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.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.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 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 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.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.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…
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