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ERA Review 2017

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Volume 9 No.6  November-December 2017

Contents


Keynes and the creation of a new economic narrative
Who could be creating such a narrative?
Editor


Big banks financing environmental disasters
Editor


A conversation about job guarantees
An email conversation with a Journalist
Steven Hail


Water, health and wealth
Summary of a Working Paper
Editor


Local government initiatives in Europe
Initiatives from Berlin and Amsterdam
Editor


The seven sins of economists
Sins of omission and commission
Editor


The ABS is wrong: inequality is getting worse in Australia
Wealth concentration growing for the 1%
Christopher Sheil and Frank Stilwell


Countries intending to phase out combustion-engine vehicles
Editor


Jobs, taxes and politics
Three ways electric vehicles will change our world
Hussein Dia


Economyths: the five stages of economic grief
Economists are slowly coming to terms with their role in the GFC
David Orrell


The Treasurer’s claim that wages growth requires profit growth
Productivity and wage increases are out of kilter
Editor


Rational expectations – the triumph of ideology over science
Editor


Monsanto’s violence in India: the sacred and the profane
The dictation of foreign capital on Indian development
Editor


Memo to mortgagors .. get your house in order
An economic tsunami is coming
John Kelly


Inequality and immiseration in the U.S.
The evidence
David Ruccio


Richard Thaler gets the ‘Nobel prize’
Lars Syll

Volume 9 No.4  July-August 2017

Contents

Government debt vs household debt: ‘good’ and ‘bad’ debt explained
To burden the young with more debt is the height of folly
Steven Hail


Be prepared for a cashless society
And the real reasons are hidden
Joshua Krause


If China can fund infrastructure with state credit money, so can we
Infrastructure spending can be funded with state created money
Ellen Brown


The human development revolution
The poor are the most efficient means to development
Asad Zaman


The philosophy behind economics
Many economists are using failed models
Aiden Bedford, Rui Sihombing


Chicago economics: a dangerous pseudo-scientific zombie
It relies on the poor having to pay for the mistakes of the rich
Lars Syll


Scary numbers
U.S. poverty and wealth inequality are increasing.
David Ruccio


To make America great again, write off the private debt
President Trump should ignore the insider economists
Steve Keen


The vital importance of restoring the Glass-Steagall Act
Growing inequality is one consequence of its repeal in 1999
Editor


Macron’s false claim that laying off workers will boost the economy
The simple fact is that austerity destroys demand
Dean Baker


Will addressing climate change devastate the economy?
Clean energy technology will be cheaper and employ more people
Editor


Economics is a form of brain damage
Unlearning the economics textbooks is slow and painful
Asad Zaman


The myth of the balanced budget
Total spending should generally exceed taxation receipts
John Kelly

Volume 9 No.3  May-June 2017

Contents

The IMF is showing some hypocrisy on inequality
The IMF has created the inequality it claims to be tackling
Christopher Sheil and Frank Stilwell


Cutting wages is not the solution
Lower wages and lower unemployment compensation make a recipe for catastrophe
Lars Syll


The decoupling delusion
Rethinking growth and sustainability
J Ward, K Chiveralls, L Fioramonti, P Sutton, and R Costanza


Creation and destruction of bank credit money
The ways in which this intangible form of money are created and destroyed
John Hermann


How land disappeared from economic theory
Evonomics article
Editor


To be a good economist, one cannot only be an economist
There is a lack of pluralism in the teaching of economics
Lars Syll


The super stupid way to get your own piece of over-priced housing
Using superannuation to buy property is a really bad idea
Claire Connelly


More on Australia’s housing market bubble
The evidence for, and the dangers presented by, Australia’s real estate bubble
Editor


Government mismanagement and Australia’s debt time bomb
Can the fuse be extinguished before the debt time bomb explodes?
Steven Hail


ASIC chairman talks about risk of mortgage crash
APRA demands more bank capital
Editor


Mainstream understanding of inflation may be all wrong
The amount of money a central bank creates may be less important to inflation than commodity prices
Editor


Trumponomist
The head of Donald Trump’s Council of Economic Advisers is a wealth inequality denier
David Ruccio


Time for new economic thinking
Using the best science available
Eric Beinhocker

Volume 9 No.2  March-April 2017
Contents

Articles in this issue explain the reality, as opposed to the myths, behind the operation of our financial system. Important discussions also embrace renewable energy issues and the need for Glass-Steagall type legislation.

Reserve bank decision time: good luck Australia!
Steven Hail


Federal Treasury finances: a functional perspective
John Hermann


Enclosure day?
Colin Cook


Keating and the consequences of austerity
Rob Holmes


Solar energy investment is booming
Madia Prupis


Issues with renewable energy accounting
Editor


Why Glass-Steagall matters
Editor


Explainer: what is modern monetary theory?
Steven Hail


Social and economic problems requiring reform
Editor


Make GDP great again
David Ruccio