Monetary
How to break out of the commodification of everything – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Regular readers will know that I run a bit, like lots. Last week, while I was in Europe, I decided to stay on Australian time, given the brevity of the mission, so I found myself running at midnight or just after awaking at 22:00 or 23:00 (after going to sleep around 14:00). It turned out […]
Japan sales tax debate continues – Reiwa are the only Party that understands the reality – William Mitchell – Modern Monetary Theory – Beragampengetahuan
On July 22, 2025, the – 2025 Japanese House of Councillors election – will be held. I have a good friend who is standing for the – Reiwa Shinsengumi – which is a genuine progressive, Left-wing party, not like the fake progressive parties these days that masquerade as social democratic parties (for example, British Labour, […]
US cars don’t sell in Japan because they are inferior and ill-suited to the market – William Mitchell – Modern Monetary Theory – Beragampengetahuan
It’s obviously becoming difficult to keep track of where the US government policy is on any particular day. Last week, it was ‘Liberation Day’, which included tariffs being imposed on remote penguin colonies in the back of nowhere, then Musk labelling the Trump’s trade adviser ‘dumber than a sack of bricks’, then tariffs on Chinese […]
Tariffs and more – Part 2 – William Mitchell – Modern Monetary Theory – Beragampengetahuan
This is the second part of the discussion on Tariffs that I started in – Tariffs and more – Part 1 (March 13, 2025). In the first part I considered some of the historical motivations including the infant industry argument. Today, I plan to expand on that discussion and add further considerations that might help […]
Australian National Accounts – growth rate picks up on back of government spending support – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Today (December 4, 2024), the Australian Bureau of Statistics released the latest – Australian National Accounts: National Income, Expenditure and Product, December 2024 – which shows that the Australian economy grew by just 0.6 per cent in the December-quarter 2024 and by just 1.3 per cent over the 12 months (up from 0.6 per cent). […]
Economics as politics and philosophy rather than some independent science – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Last week, I wrote about – The decline of economics education at our universities (February 6, 2025). This decline has coincided and been driven by an attempt by economists to separate the discipline from its roots as part of the political debate, which includes philosophical views about humanity and nature. In her 1962 book – […]
Australia – inflation continues to fall and the RBA should cut interest rates – William Mitchell – Modern Monetary Theory – Beragampengetahuan
The Australian Bureau of Statistics (ABS) released the latest – Consumer Price Index, Australia – for the December-quarter 2024 today (January 29, 2025). The data showed that the inflation rate rose by just 0.2 points in the quarter and has fallen to 2.4 per cent on an annual basis (down from 2.8 per cent). The […]
Austerity cultist Kenneth Rogoff continues to bore us with his broken record – William Mitchell – Modern Monetary Theory – Beragampengetahuan
One would reasonably think that if someone had been exposed in the past for pumping out a discredited academic paper after being at the forefront of the destructive austerity push during the Global Financial Crisis, then some circumspection might be in order. Apparently not. In 2010, Carmen Reinhart and Kenneth Rogoff published a paper in […]
Both main candidates were unelectable but one was more in tune with the nation than the other – William Mitchell – Modern Monetary Theory – Beragampengetahuan
So from January 20, 2025, Donald Trump will inherit the on-going genocide that the US government has been party to in the Middle East. He will then have no cover and will be judged accordingly. What follows are a few thoughts that I had when I watched the unfolding disaster for the Democrats and the […]
Australian Treasurer refuses to use his legislative power to rein in the rogue RBA – William Mitchell – Modern Monetary Theory – Beragampengetahuan
It has been quite the week in central banking terms in Australia. We had the Federal Greens economic justice spokesperson demanding that the Federal Treasurer use the powers he has under the Reserve Bank of Australia Act 1959 and order the RBA to lower interest rates. Then we had the Treasurer playing the ‘RBA is […]