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Volume 11 No 6 – November-December 2019
Contents
Impoverishing economics
Unpacking the ignoble prize in economics
David Ruccio
The key to economic stability is 5,000 years old
Debts that can’t be paid won’t be paid
Ellen Brown
Household debt: a tale of three countries
How to avoid a financial crisis without creating a major private debt problem
Steven Hail
Modern economists haven’t learnt from their own history
How economists came to ignore the natural world
Editor
The transition to New Energy Vehicles
A federal government-led policy framework is essential for effecting change
Editor
Do electric cars make climate change better or worse?
It is possible to have near-zero emissions with electric vehicles?
Michael Barnard
California just legalized public banking
Setting the stage for more affordable housing, infrastructure funding and low-rate loans
Editor
Trends in income and wealth in Australia
The era of fiscal austerity is coming to an end
Editor
Land of the ‘fair go’ no more
Wealth in Australia is becoming more unequal
Christopher Sheil and Frank Stilwell
The ABS insists that inequality has been stable, but its data suggests something less rosy
Australia’s continuing upward redistribution of wealth
Christopher Sheil and Frank Stilwell
A financial transactions tax is more strategic than a high wealth tax
Freeing up fiscal space to accommodate central government spending
Dean Baker
Volume 11 No.5 September-October 2019
Contents
Eulogy for William Krehm
Jonathan Krehm
Progressive economic policy and the Green New Deal
We need a progressive economic agenda offering a Green New Deal
Steven Hail
“Job snobs” are back on the agenda
The realities of unemployment and poverty cast doubt on the “job snob” claims
Greg Marston et al
Understanding global inequality in the 21st century
International coordination is required to address social inequality
Jayati Ghosh
The cheapest way to save the planet grows like a weed
Industrial hemp has been suppressed because it’s a threat to other industries
Ellen Brown
The scarcity machine
Inequality drives artificial scarcity
Jason Hickel
Some concerns about the Job Guarantee
A Job Guarantee scheme must work in concert with an expanded public sector
Elinor Hurst
Progressive policies may hurt the US stock market – not a bad thing
Implementing economic reforms will impact upon the stock market
Dean Baker
The US tariffs cannot push China into a recession
Trump’s trade measures cannot sink China’s economy
Dean Baker
Australia’s ecological footprint
A letter about infrastructure sent by Dr John Coulter to journalist Geraldine Dooge
Editor
Economics and ideology
A recent study provides evidence of a strong ideological bias among economists
Editor
Is a federal Treasury bond a “debt” or not?
Extract from an article which proposes that a Treasury bond is a form of state fiat money
J.D. Alt
What is the most efficient way to store solar energy?
Pumped hydro is the main form of electricity storage used around the world
Mark Diesendorf
Volume 11 No.4 – July-August 2019
Contents
A national depository system
Radical banking alternative
William Hummel
Employment for All
The case for a Job Guarantee scheme
Asad Zaman
Should student loans be waived?
Response to a Quora question
Editor
We wrecked the planet
But if the young just read the Washington Post they will only blame us for the national debt!
Dean Baker
The world of free market drugs
Removing patent monopolies
Dean Baker
Germany will close all 84 of its coal-fired power plants
Germany will rely primarily on renewable energy
Editor
The search for an alternative to GDP to measure national progress
The New Zealand experience
Murray Graham Patterson
The RBA Governor is completely wrong about the federal budget and it matters
Suggestions for getting our economy back on track
Steven Hail
Cornell University study supports public bank model for infrastructure financing
Case study of the Bank of North Dakota
Public Banking Institute
Is money really neutral in the long run?
Money matters in both the short run and the long run
Lars Syll
Krugman vs Krugman
Paul Krugman does not recognize that the state could not actively manage the economy if money was neutral
Editor
Functional Finance and MMT
Krugman still does not get it!
Editor
Has neo-liberalism turned us all into psychopaths?
The role of the success narrative in our life choices
Paul Verhaeghe
Mending hearts: how a ‘repair economy’ creates a kinder, more caring community
Promoting a circular economy
Katherine Wilson
Mark Diesendorf answers questions recently submitted to Quora on the economics of renewable energy
Editor
The Visible Hand we need today
The “invisible hand” seems to be guiding us in the wrong direction
J.D. Alt
Some aspects of federal government finances
Examining myths and misconceptions about the government’s fiscal operations
John Hermann
Volume 11 No.3 – May-June 2019
Contents
Paradigm shift: the great machine of capitalism starts to heave
A tectonic mind shift is occurring in economics
Kalle Lasn
A winner: Alexandria Ocasio-Cortez’s green new deal
New Deal can stop the worst effects of climate change
Steven Hail
Mainstream economics versus Minsky
Asad Zaman
The purpose and function of Treasury bonds
The function of Treasury bonds relates to interest rate management
Ellis Winningham
Federal government deficits and surpluses
Deficit spending provides the non-government sectors with essential net financial assets
Editor
Some fallacies of financial fundamentalism
Two extracts from a classic work by William Vickrey
Lars Syll
Krugman vs Kelton on the fiscal-monetary trade-off
We have to free ourselves from the loanable funds fallacy
Lars Syll
A novel idea: harness the economy to good cause
Neoliberal myths and misconceptions are at the heart of our economic chaos
Geoff Davies
Economists and climate change
Under the current model of capitalism, economies “prosper” at the expense of our planet’s health
David Shearman
The Venezuela myth keeping us from transforming our economy
Issues surrounding Venezuela’s current difficulties and its hyperinflation
Ellen Brown
Anti-social economics
At its core, mainstream economics remains anti-democratic – by design
Peter Radford
Capitalist utopia has become a dystopia
American elites have ruined their society in a way the world hasn’t seen since Weimar Germany
Editor
Commissioner Hayne’s recommendations
A summary of Hayne’s main recommendations for reforming the financial services sector
Editor
Four lessons not learned from the 2008-9 financial crisis
Brief extracts from an article by John Harvey
Editor
Volume 11 No.2 – March-April 2019
Contents
Growth and GDP: don’t mention the G-Words
Let’s focus on rules for the ownership of things and money that work for the common good
Geoff Davies
20th anniversary of the euro — no reason for celebration
Real people have to pay dearly for fundamentally flawed doctrine
Lars Syll
What is wrong with mainstream economics?
Inadequate analysis of its failures is a devastating indictment of modern mainstream economics
Editor
What is competition?
Many economists misunderstand competition
Editor
Why Germany leads in renewables
It has its own green bank
Ellen Brown
The U.S. bank bailout of 2008 was unnecessary
Saving the banks became the first priority, rather than saving people’s homes and jobs
Dean Baker
War and peace and the steady-state economy
There is a necessary interdependence between peace and a steady state economy
Herman Daly
Reforming Australia’s banking system
How do we build an anti-fragile financial system that serves the real economy?
Steven Hail
The explicable mystery of the national debt
The true character of sovereign treasury securities
J.D. Alt
Green New Deal
a proposed economic stimulus program aiming to address inequality and climate change
Editor
The Green New Deal is happening in China
China is massively pushing to convert to electric powered vehicles and cleaner energy sources
Dean Baker
Volume 11 No.1 – January-February 2019
Contents
The poison beer of GDP
Attempting to maximise the growth of GDP will be socially and environmentally destructive
Herman Daly
Our world does not operate as a pure market economy
And neoclassical economics cannot explain it
Dave Elder-Vass
US pharmaceutical prices began to explode in the 1980s
Nearly doubling as a share of GDP over the decade
Dean Baker
Summary of The Great Transformation by Karl Polanyi
We should focus on ensuring that people have the right to earn a decent livelihood
Asad Zaman
Richard Feynman on the limitations of mathematics
Mathematics is a powerful tool but used without discretion can lead one astray
Lars Syll
Fulfilling the world’s energy demand in the next fifty years
Electricity will be supplied by renewable sources and storage technologies
Mark Diesendorf
An energy revolution is coming
Electrical energy generated from solar panels is cheaper than energy produced from fossil fuels
Editor
News about the Trans Pacific Partnership
Extracted from the AFTINET bulletin of Oct-Nov
Editor
The world’s largest vanadium redox flow battery
Owing to its unique properties, this type of battery will reduce the cost of energy storage
Editor
Economic ‘recovery’ leaves most citizens behind
The labour share of business income has been falling
David Ruccio, Jamie Morgan
Jesus: the economic activist
The Hudson Report: The history of debt cancellation and Jesus’ economic justice activism
Michael Hudson
Trump’s war on the Fed
Is the Fed’s stated intention to raise interest rates a mistake?
Ellen Brown
The decoupling delusion
Rethinking sustainability
James Ward et al
Renewables reduce energy prices in South Australia
The biggest reason for higher wholesale electricity prices in SA is higher gas prices
Editor
