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Volume 18 No.3 May – June 2026
Contents
This is the end of the U.S. global monetary system
The US-dollar- based international monetary system will most likely not survive this Presidency. But it might take yet more outrages by “The Peace President” before there will be global agreement to end the system.
Steve Keen
On the Wealth of Nations
250 years on, Jason Furman’s essay goes wrong, not in what it says about Adam Smith, but in what it implies about us.
Susan Borden
Why Minsky still matters
Minsky first coined the phrase “Stability creates instability”
Lars Syll
Comparative economic evolution of three countries
And how to improve New Zealand’s mismanaged economy
Steven Hail
Neoclassical economics vs MMT on the status of savings
Spending creates income, and income allows savings to happen. Savings are the result, not the cause, of a healthy economy.
Jim Byrne
Book review: Thermoeconomics in a Time of Monsters
Rethinking Theory, China and International Geopolitical Economy, by Warwick Powell Alan Prout
Recommended video: Are we at a Galileo moment in economics?
The choice is between a comfortable illusion and the truth.
Richard Murphy
US war on Iran shows renewable energy is an inflation management tool
The growing energy crisis shows that fossil fuels present a systemic risk to the global economy, and that the energy transition is a monetary policy imperative.
Ingrid Walker
Why the rich don’t pay taxes
The architecture of modern tax codes serves not the public good but the consolidation of private wealth.
Lars Syll
We don’t need billionaires, and we can structure the market so we don’t have them.
Dean Baker
Volume 18 No.2 March – April 2026
Contents
A post-Keynesian discussion of US economic hegemony: resilience or decline? (Part 2)
Balancing loyalty to allies, economic pragmatism, and regional diplomacy
Alan Prout
Wealth taxes don’t go far enough: let’s transform our economy with public money
Public money beyond taxes
Sheridan Kates
Kenneth Rogoff Is (almost) right about the importance of inflation – but entirely wrong about its management
Abandoning household analogies & creditor-centric framing
Susan Borden
Economics textbooks – scandalous intellectual dishonesty
Understanding the Sonnenschein-Mantel-Debreu theorem
Lars Syll
The Global Financial Crisis from a flawed neoclassical perspective
Orthodox economists misunderstand monetary mechanics
Steve Keen
Book Review: The Big Con, by M Mazzucato & R Collington – Editor
Equations that mask inequality
Students of economics learn obedience to equations that mask inequality
Barbara Williams
Uncertainty is central to Keynesian economics
Keynes without uncertainty is something like Hamlet without the Prince
Steven Hail
Can MMT save AI from catastrophe?Intentionally created jobs
John Alt
Renewables over 50%, wholesale prices down; is the energy transition succeeding?
Shifting from gas is a slow process
Tony Wood
Empathy, morality, civilisation and resisting tyrants
Can we cultivate more compassionate and peaceable societies?
Geoff Davies
When ecosystems fail, civilisation follows
Ecosystem collapse threatens global security, prosperity and human survival
Julian Cribb
Book Review: US Business Cycles 1954-2020, by John Harvey – Steven Hail
Volume 18 No.1 January – February 2026
Contents
From public good to corporate enterprise: The financialisation of universities (Part 2)
Universities are now expected to produce graduates who are immediately “job-ready”
John H Howard
Economic myths
Neoliberalism is beginning to totter
Mark Diesendorf
A post-Keynesian discussion of US economic hegemony: resilience or decline?
Part 1) Market participants, have a flawed understanding of the bond-deficit nexus
Alan Prout
The China dependency nobody talks about: how smart countries build dumb export structures
Why does Australia’s export profile look like that of a developing economy?
Darren Quinn
Recommended article: The service sector path to shared prosperity, by Dani Rodrik
We must address climate change, inequality, and poverty simultaneously, but prevailing economic approaches are failing.
Editor
How to talk about it
Framing MMT as a part of normative society
John Alt
What caused both the Great Depression and the 2008 crisis?
Our economic system is inherently unstable and vulnerable
Steve Keen
The confident falsehoods of economists and the Nobel Prize
The Sveriges Riksbank Economics Prize has outlived its purpose
Lars Syll
From neoclassical economics to the masking of it with New-Keynesian economics
The economy we inhabit is unstable, institutionally complex, and riddled with power asymmetries
Tyrone Keynes
A just transition can remake Australia if we choose to think bigger
Investing in wellness and happiness
Peter Hansford
Ben Bernanke — the “expert” who got it all wrong
Extracted from an article by Steve Keen
