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Volume 15 No.6 November – December 2023
Contents
The F-twist — realism, economic policy analysis and climate change – pt 2
Economics can be exploited by vested interests
Tom Foster
Notice: NENA Conference – Life After Capitalism, 17-19 Nov
Editor
Finance and crypto are waste and a drag on the economy
Many have forgotten that the purpose of the financial sector is to facilitate transactions and allocate capital
Dean Baker
Degrowth
The deeper economic logic of degrowth theory
Jason Hickel
Government on the slow coal train as world faces collapse
Climate change is the fast train to world collapse
David Shearman
Chicago economics – garbage in, gospel out
In Chicago economics the poor are obliged to pay for the mistakes of the rich
Lars Syll
The religion of economics
We must re-learn the difference between rationality and irrationality, to prevent painful outcomes
Asad Zaman
The aerodynamics of chartalism
Fiat money has value because taxes levied by the sovereign government must be paid with it
J.D. Alt
Pumped hydro storage: the neglected, stifled no-brainer
Our society and the planet need the pumped hydro energy storage option to be unshackled and rapidly promoted
Geoff Davies
Choosing unemployment: what of job seekers? – pt 1
Unemployment is a choice made by governments, corporations and central banks
John Haly
Ford and Edison, the anti gold bugs
Henry Ford and Thomas Edison supported fiat money and criticised the gold standard
Steve Keen
The bond market doesn’t control anything, the national government does
Extracted from an article by Ellis Winningham
If the national government chooses to issue treasury bonds, then it alone controls the interest that it pays on its bonds, not the bond market
Editor
Volume 15 No.5 September – October 2023
Contents
The looming quadrillion dollar derivatives tsunami – part 2
The global casino is a highly interconnected house of cards
Ellen Brown
Flow, and materialistic values
Thoughts on the dynamics of materialism, self regulation and flow
Elinor Hurst
The degrowth movement and population
Elinor Hurst
The F-twist – realism, economic policy analysis and climate change – part 1
Economics usually is not treated as a science, opening it to exploitation by vested interests
Thomas Foster
Australia’s $40 billion of education exports is a statistical trick
Debunking the myth of the university sector export boom
Cameron Murray
BRICS new currency
Seeking independence from the US dollar
Editor
The RBA’s balance sheet
Dispelling the accounting confusion
Steven Hail
Australia finally has an electric vehicle strategy
How does it stack up? EVs plan for phasing out combustion vehicles
Hussein Dia
NYT article: “Public tired of ‘neoliberal’ policies designed to make the rich richer”
Market structure is the key to reform
Dean Baker
Sodium-ion batteries for electric vehicles
Chinese innovations
Editor
Japan has gone its own way on fighting inflation
Can NZ and Australia learn from a global outlier? Japan’s success
Michael Mouat
Energy Prices! Transition costs or Opportunism?
Consumers are being ripped off by private energy operators
Greg Reid
Volume 15 No.4 July – August 2023
Contents
The looming quadrillion dollar derivatives tsunami – part 1
The global casino is a highly interconnected house of cards
Ellen Brown
Reserve Bank of Australia Review fails ordinary Australians
The winner of the reforms is the RBA, not ordinary people
Anis Chowdhury
Saving humanity
Here’s a radical approach to building a sustainable and just society
Mark Diesendorf
European project explores pathways towards post-growth economics
Researchers: Giorgos Kallis, Jason Hickel and Julia Steinberger
Editor
A Student Among the Econ: Seeing Through Mathemagics
The economics profession mistook mathematical beauty for truth
Asad Zaman
A simple solution to the banking crisis that no country will implement
Neoclassical economists misunderstand the monetary system
Steve Keen
Capitalism and extreme poverty
The early rise of capitalism caused a dramatic deterioration of human welfare
Dylan Sullivan and Jason Hickel
Why Krugman and Stiglitz remain attached to mainstream economics
Despite all their radical rhetoric, Krugman and Stiglitz are – where it really counts – nothing but diehard mainstream economists
Lars Syll
Inequality is exacerbating the health, housing and education crises
Current economic theory and practice is still pre-science
David Shearman
Noah Smith’s critique of heterodox economics – nonsense on stilts
Mathematics and logic cannot establish truth value for observables
Lars Syll
Inflation like a red balloon
Many economists do not understand that inflation is mainly due to falling productivity and rising markups
Steve Keen
Volume 15 No.3 May – June 2023
Contents
Systemically corrupt capitalism – part 2
Corporate capitalism is riddled with corruption, criminality and opposes public purpose
Evan Jones
The coming global financial revolution – part 2
Russia is following the American playbook
Ellen Brown
Thoughts about full employment
Unemployment is an integral part of the ‘normal’ capitalist system
Ellis Winningham
Degrowth: how much is needed?
The human race cannot save itself unless we shift to some version of The Simpler Way
Ted Trainer
A Green New Deal must not be tied to economic growth
The ideology of capitalist growth created the climate crisis
Giorgos Kallis
An update from Sustainable Prosperity Action Group
Gabrielle Bond and Steven Hail
The dead parrot of mainstream economics
Commercial banks do not lend out their depositors’ money
Steve Keen
Is it rational to be a sociopath?
Causing harm to others for private benefit is sociopathic
Asad Zaman
The nature of capitalism
We can have a democratic economy organized ed around meeting human needs at a high standard, where production is socially just and ecologically regenerative
Jason Hickel
Stephanie Kelton is now an adjunct professor with Torrens University
In addition to her current post at Stonybrook University (New York)
Stephanie was recently appointed to a post at Torrens University, Australia
Editor
Volume 15 No.2 March – April 2023
Contents
Setting the economic agenda
There are no easy solutions to complex socio-economic problems
Wayne McMillan
Monetary and fiscal policy frameworks for Australia – part 2
Governors and department heads in the RBA need re-educating
John Haly
Homelessness study report and competitive neutrality
Market forces cannot solve the homelessness problem
Colin Cook
Ecological reasoning demands perspectives that mainstream economics is designed to obliterate
Mainstream economics is blind and hostile to sustainable socio-ecological models
Gregory Daneke
The transition to a steady-state economy: reply to Michael Keating [1]
Neoclassical and neoliberal ideologies are destructive and should be rejected
Mark Diesendorf
The debt ceiling limit is destructive, duplicative and dumb
The US debt ceiling should cease to be used as a political weapon and preferably should be abolished
Stephanie Kelton
The money multiplier – neat, plausible, and utterly wrong
A wrong explanation of how bank credit money is created
Lars Syll
A comment on Bernanke’s Nobel lecture
A FED chair should not be engaged in sugar-coating corrupt bank practices
James Galbraith
Sustainability and the New Economics
Discussion about a new book on sustainability and ecological boundaries
Steven Hail
Systemically corrupt capitalism
Corporate capitalism is riddled with corruption, criminality and acts against public purpose
Evan Jones
The Singapore-inspired idea for using super for housing that could cut costs by 50%
A new scheme designed to halve the cost of buying a domestic home
Cameron Murray
Volume 15 No.1 January-February 2023
Contents
Neoliberalism as an enabler of the spread of Covid-19
The virus spread was aided by “epidemiological neoliberalism”
Imad A. Moosa
Two big budget fallacies harming Australians
We do not need to tolerate poverty and homelessness
Geoff Davies
The fantasy economics of the Nobel prize
How banks create money
Steve Keen
The Federal Treasury’s central bank (RBA) account
Any creator of money has no need to save or store that money
John Hermann
Monetary and fiscal policy frameworks for Australia – part 1
Neoclassical economics still guides the RBA’s monetary decisions
John Haly
Modern money and inflation
Expansion of the money supply by the state should be targeted at unemployment, in order to prevent stagflation from happening
Asad Zaman
The Coming Global Financial Revolution (part 1)
Russia is following the American playbook
Ellen Brown
Zero fossil fuels by 2050 without energy austerity
It is feasible to end burning fossil fuels by 2050 without sacrificing energy services
Richard Corin
The use and abuse of MMT (Part 2)
Explaining the effects of government budget deficits on asset-price inflation and commodity-price inflation
Michael Hudson, Dirk Bezemer, Steve Keen, Sabri Öncü
World’s biggest flow battery opens in China
The vanadium flow battery is a paradigm shift in big storage
Ellen Phiddian
New OEC Under-Secretary-General for Financing and Development
Dr Fadhel Kaboub has been appointed to this position
Editor
