Category Archives: Economics

The catch-all category for my blogs reflecting my professional expertise as a full professor of economics.

There is no internal MMT rift on trade or development

I was going to write about Jamaica today but this topic emerged that I thought I should deal with before I write about the home of reggae. In fact, some of the material is input into a reasoned discussion about … Read the rest of this entry »

Posted in Capital controls, Economics, Fiscal Statements, Framing and Language, IMF | 35 Comments

The mindless and myopic nature of neoliberalism

A short blog post as per my usual Wednesday behaviour these days. Fiscal austerity manifests in many ways, all of them unpleasant, destructive and unnecessary. Here is one of the more insidious ways that mindless cuts in government programs have … Read the rest of this entry »

Posted in Economics, Music, Reclaim the State | 14 Comments

Australian workers losing out under neoliberalism

The current conflict in France, while multidimensional, is a reflection that the neoliberal austerity system is not working for ordinary people. All sorts of cross currents feed in to this discontent, some of which (for example, distaste for foreigners/migrants) are … Read the rest of this entry »

Posted in Admin, Economics, Fiscal Statements, National Accounts | 12 Comments

MMT and pluralism in economics

I am recording some promotional videos in London today for Macmillan Higher Education who will publish our forthcoming textbook – Macroeconomics on March 11, 2019. These will be the first of many short videos to support the teaching program outlined … Read the rest of this entry »

Posted in Economics, Framing and Language, MMT Textbook | 44 Comments

Economics curriculum is needed to work against selfishness and for altruism

It is Wednesday and so just some snippets. I have written about the behavioural impacts that studying mainstream economics, particularly the microeconomics component can have on students as they progress through their studies. I have observed sort of nice young … Read the rest of this entry »

Posted in Economics, MMT Textbook, Music | 25 Comments

Precarious private balance sheets driven by fiscal austerity is the problem

The media has been giving a lot of attention in the last week to the 10-year anniversary of the Lehman Brothers crash which occurred on September 15, 2008 and marked the realisation, after months of denial, that there was a … Read the rest of this entry »

Posted in Central banking, Economics, Fiscal Statements, National Accounts | 31 Comments

The divide between mainstream macro and MMT is irreconcilable – Part 3

This is Part 3 (and final) of my series responding to an iNET claim that Modern Monetary Theory (MMT) and mainstream macroeconomics were essentially at one in the way they understand the economy but differ on matters of which policy … Read the rest of this entry »

Posted in Debriefing 101, Economics, Fiscal Statements | 15 Comments

The divide between mainstream macro and MMT is irreconcilable – Part 2

This is Part 2 of a three-part response to an iNET article (September 6, 2018) – Mainstream Macroeconomics and Modern Monetary Theory: What Really Divides Them?. In Part 1, I considered what we might take to the core body of … Read the rest of this entry »

Posted in Debriefing 101, Economics, Fiscal Statements | 14 Comments

The divide between mainstream macro and MMT is irreconcilable – Part 1

My office was subject to a random power failure for most of today because some greedy developer broke power lines in our area. So I am way behind and what was to be a two-part blog series will now have … Read the rest of this entry »

Posted in Debriefing 101, Economics, Fiscal Statements | 50 Comments

Reliance on household debt and a lazy corporate sector – a recipe for disaster

In yesterday’s blog post – Australian national accounts – growth continues but deep uncertainty looms (September 5, 2018), my theme was that the current period of economic growth in Australia was being built on what we might consider to be … Read the rest of this entry »

Posted in Economics, Labour costs, National Accounts | 10 Comments