Theory
A structured approach for progressive political ambitions – Part 2 – William Mitchell – Modern Monetary Theory – Beragampengetahuan
This is the second part of a short series of briefing notes that arose out of discussions I had in London the week before last about how a progressive political party might want to break out of the shackles that the Labour Party has bound itself in with its obsession with fiscal rules and an […]
Actions by our governments are the opposite to what we require from them on climate change – William Mitchell – Modern Monetary Theory – Beragampengetahuan
The US is now a rogue state. One example is the conduct of the US Health Secretary who has been working to destroy the scientific basis for health care since his appointment last year but exceeded his own hubris when he told a podcast on February 12, 2026 that “I’m not scared of a germ. […]
Curbing the freedom of writers will not advance human rights – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Today’s blog post is a little different to my usual posts because I am writing it as a writer rather than as an economist. I write tens of thousands of words every year and have done so for many years. People have asked me whether I enjoy spending my time in that way, given that […]
When contraction is called expansion – Japanese government style – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Well my holiday is over. Not that I had one! This morning we submitted the manuscript to the publisher for the Second Edition of our Macroeconomics text, which will come out later this year. Finishing a massive project like that always is non-linear – the last few months have been hideous – checking everything and […]
British Labour’s obsession with fiscal rules is untenable and ignores the reality of the situation – William Mitchell – Modern Monetary Theory – Beragampengetahuan
I have been a consistent critic of the way in which the British Labour Party, both in opposition and in government, is obsessed with rigid fiscal rules, thinking it is the only way that it can demonstrate fiscal credibility (whatever that is in their minds). The result is that they get cornered into situations that […]
Panel of Japanese economists mired in erroneous mainstream constructions and logic – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Last Friday, I met a journalist in Tokyo and we discussed among other things, the results of the latest Nikkei/JCER ‘Economics Panel’, which was conducted between November 13 and November 18, 2025. The panel involves “questionnaires” being “sent to approximately 50 economists to gather their evaluations of various economic policies. The aim is to promote […]
My current number one candidate for the worst economics article of the year – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Unfortunately, the so-called progressive UK Guardian has an Australian economics editor who is anything but if his economic analysis is anything to go by. The economic news for this week started with the release of the – Final Budget Outcome – (FBO) for the 2024-25 fiscal year for the Federal government (released September 29, 2025). […]
A Trader’s Guide to Using Gann Theory and Astrology for Market Turns – Beragampengetahuan
In the relentless pursuit of an edge, traders scour every corner of the analytical universe. We master candlestick patterns, dissect economic reports, and build complex algorithms. Yet, for all our modern tools, the market often feels chaotic and unpredictable. But what if there was a hidden order? A cosmic blueprint that, if understood, could reveal […]
Some discussion about taxation – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Over the weekend, I was a presenter at a Fabian’s Society meeting which sought input on ‘alternative taxation policies’ under the general tenet of the need for the Australian government to raise revenue to ensure a socially just society. The other presenter was John Quiggin and I think we provided a good complementarity for the […]
Australia’s unemployment rate is well above any reasonable full employment level – William Mitchell – Modern Monetary Theory – Beragampengetahuan
Central banks around the world tightened interest rates starting late 2021 in some places and there was a systematic period of hikes over the next year or more despite the inflationary pressures mostly showing signs of abatement as a result of factors that were not sensitive to the rising interest rates. In Australia, the RBA […]