Category Archives: Economics

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

Structural fiscal balance is about full employment not ‘normality’

Already this morning I have received several E-mails asking me to comment on the latest article in the Sydney Morning Herald (February 3, 2014) – Budget a matter of timing and nerve – by its economics editor Ross Gittins. I … Read the rest of this entry »

Posted in Economics | 27 Comments

Locked-in to a neo-liberal mindset

The Governor of the RBA appeared before the House of Representatives Standing Committee on Economics yesterday (December 18, 2013). He told the Committee that the economic growth that we experienced leading up to the crisis in 2008 was unlikely to … Read the rest of this entry »

Posted in Economics | 11 Comments

Single banking union doomed to fail

I have been travelling today a lot and so haven’t had much time to write. I have been reading early (1970s and 1980s) documents in recent days relating to the debate that preceded the establishment of the Eurozone. I have … Read the rest of this entry »

Posted in Economics, Eurozone | 16 Comments

The deficit is undermining our welfare – because it is too low!

The new Australian federal government released its – Mid-Year Economic and Fiscal Outlook – today and this gave the media something to salivate about and led to sensationalist headlines and presenters oohing and aahing about impending meltdowns and unsustainable government … Read the rest of this entry »

Posted in Economics | 17 Comments

The PBO – humiliation all round

In July 2013, the Australian Labor Party (the then Federal Government) humiliated itself when it created the – Parliamentary Budget Office. It was a case of “me too” “catch-up” neo-liberalism because the morons who dreamt up this plan felt left … Read the rest of this entry »

Posted in Economics | 4 Comments

Framing Modern Monetary Theory

The last day of the 14th Path to Full Employment Conference/19th National Unemployment Conference was held in Newcastle today. Given I host this conference I had very little spare time today. I have uploaded a video of our presentation on … Read the rest of this entry »

Posted in Economics | 10 Comments

OMF – paranoia for many but a solution for all

When the Committee on Economic and Monetary Affairs (ECON) of European Parliament considered the 2012 Report from the European Central Bank, the Rapporteur of the Committee and Deputy President of the EP, Gianni Pittela tendered the – Draft Report – … Read the rest of this entry »

Posted in Economics, Eurozone | 6 Comments

Been searching for a public debt overhang – didn’t get far

I got on a plane on Monday and flew many hours. I was in search of the public debt overhang. I read and read many articles during my journey to the other side of the planet (where these overhangs are … Read the rest of this entry »

Posted in Economics | 9 Comments

A bad day for informed debate in Australia

The title gives the game away – Hope all that’s left as growth slows to crawl. It was written by Ross Gittins, the Sydney Morning Herald’s economics editor. Hope is all we have because this thing we call the economy … Read the rest of this entry »

Posted in Economics | 14 Comments

More worn out ideological prattle from R&R

There are seven graphs in the paper. An Excel spreadsheet was involved. Shonky stuff alert! R&R are back with another attention-seeking effort after they were disgraced when their Excel manipulation that just happened to generate ideologically-convenient results was discovered to … Read the rest of this entry »

Posted in Economics | 30 Comments