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Volume 12 No 6 November-December 2020
Contents
Neoclassical economics, part I: farcical global warming analyses
The deficient analyses of William Nordhaus
Geoff Davies
The appallingly bad neoclassical economics of climate change
With comments by Geoff Davies
Steve Keen
Pandemic musings
How and why economics has contributed to the growth of wealth and income inequality
Peter Radford
Debt and deficit spending by a monetary sovereign government
Federal government bonds are debt in name only
John Hermann
Degrowth and MMT: a thought experiment
MMT provides an opportunity to create a post-growth, post-capitalist economy
Jason Hickel
Political Economy
A discussion of new directions in macroeconomics for the twenty first century
Asad Zaman
Hyman Minsky: prophet of financial doom, iconoclast or economic genius?
Minsky was able to use the insights of great reformers of the past to bring together a new blend of economic thinking
Wayne McMillan
It’s not only Westpac
What’s behind the biggest fine in Australian corporate history
Thomas Clarke
China’s wicked competitive advantage
A house is for living in, not for speculation
Colin Cook
If a politician says they want affordable homes, they are lying
How to make home ownership more affordable
Cameron Murray
Economic possibilities for our granddaughters
There needs to be a sustainable and organic way to remove gender disadvantage
Hetty Krupka
The Inequality Crisis: The three options
Income and wealth distributions result not from the natural order but from human decisions
Edward Fulbrook
Volume 12 No 5 September-October 2020
Contents
Why Deficits hurt Banking Profits
How the term ‘stability’ has been used as a cover for financial fraud
Michael Hudson
Abba Lerner: Father of functional finance
Taxation is not designed for funding expenditure, but to maintain low inflation
Wayne McMillan
The climate emergency after the pandemic
Decarbonization of the economy can occur with a modest commitment of resources
John Quiggin
The antidote to a post-pandemic great recession
Decades of austerity are not needed to accommodate spending on the health crisis
Steven Hail
Is it impossible to envision a world without patent monopolies?
We should not face very high prices for a Covid-19 vaccine
Dean Baker
Creative destruction: The Covid-19 economic crisis is hastening the demise of fossil fuels
The fossil-fuel economy is obsolete
Peter Newman
A few economic problems that must be dealt with
Comments from Dr Geoff Davies
Editor
Chomsky on why neoliberalism has added to Covid-9’s danger
Only governments can prepare for future catastrophes
Alex Henderson
Australia: an emissions super-power
Australia has become the world’s biggest exporter of coal and gas
Editor
Why the euro has to be abandoned if Europe is to be saved
Europe’s future is one of growing economic disparities
Lars Syll
The true cost of privatising public services
Today, we are counting the cost of privatising public services
Editor
Investing in a Job Guarantee for Australia
The persistent shortage of remunerated work requires a different approach
Editor
Income inequality in the United States
To the victor belongs the spoils
David Ruccio
Volume 12 No 4 July-August 2020
Contents
Our future is in our hands
Bernard Thomson
Corporations prepare to sue over action to save lives as pandemic reveals trade flaw
CPTPP chickens coming home to roost
Patricia Ranald
The Price of Peace – Tackling the Deficit Myth
Insights that can form the basis of a modern Keynesian revolution
Steven Hail
Joan Robinson: A pre-eminent economic theorist of the 20th century
A survey of Joan Robinson’s impact on economic theory
Wayne McMillan
Joan Robinson on public sector deficits and debt
V. Ramanan
Keynesianism with an expansionary twist
And why the European monetary union has failed
Lars Syll
Scientists’ warning on affluence
Editor
Energy giants seeking to avoid reforms
Editor
Political economic responses to the coronavirus crisis
The current crisis is a likely major rupture and turning point
Frank Stilwell
Capitalism and production science vs impact science
Ikonoclast
Three mega-events which shape our minds
Asad Zaman
The totalitarian dystopia of the World Economic Forum
Evidence of growing authoritarian control
Editor
Burning gas is inconsistent with science-based climate policy
Health and environmental impacts of burning LPG
David Shearman
The simple approach to carbon
Fee and dividend carbon pricing is fair, simple and supportable
Warwick Smith
The future of air travel and tourism
The new normal will not be an extension of the old normal
John Coulter
Volume 12 No 3 May-June 2020
Contents
Economic realities in the wake of the global health crisis
Editor
Dark Times
Immediate measures needed to keep people safe
David Ruccio
Supermarkets hit by panic buying
Editor
Neoliberalism is unfit for the purpose of human survival
Editor
Does the federal government’s “credit rating” need protecting?
Credit rating corporations play no constructive role
John Hermann
The corona virus and our economy
Editor
Unlike previous recessions, this one has to be managed differently
Priorities for handling the economic impact of the pandemic
Richard Murphy
Modern monetary theory, the economy and the virus
Large scale spending required to support people and organisations
Steven Hail
It’s time for the federal government to spend
Editor
Filmmaker’s Collaborative documentary: Finding the Money
Editor
Tackle climate crisis and poverty with the zeal of the Covid- fight
The pandemic exposes that we can do things differently RWER
Editor
Beyond the global coronavirus crisis: austerity or recovery?
Creating the conditions for recovery, stability and sustainability
Frank Stilwell
Sociopathic societies
Editor
Our “Scheidel moment”?
According to Walter Scheidel, elites always, and everywhere rig society for their own gain
Peter Radford
Coronavirus and climate emergency: an opportunity for government
A unique opportunity for economic reform
David Shearman
The shape of the recovery: Those who tell don’t know
Nobody really knows what the recovery will look like
Dean Baker
Beware Financial Journalists on Government Deficits
Steven Hail
Corona Debt Jubilee
Debts that can’t be paid won’t be – a debt jubilee may be the best way out
Michael Hudson
US and UK unemployment could exceed Great Depression
Editor
Volume 12 No 2 March-April 2020
Contents
Parable for the new decade
Paying for what needs to be done to save our planet from disaster
JD Alt
A stock market boom is not the basis of shared prosperity
Our addiction to stock price inflation is toxic
Thomas Palley
Introducing land rent, the ACT’s good idea for cheaper houses
A proposal for saving housing costs
Cameron Murray
Anti-cash alliance suffers setback
Some recent developments in the campaign to eliminate cash
Norbert Häring
A just transition for Australia
Australia can lead the way towards repairing climate change damage
Steven Hail
Questions that do not arise in standard neoclassical economics
Development is more important than growth for the future
Herman Daly
Chicago economics – where do we unload the garbage?
The garbage must be removed from textbooks and policy advice
Lars Syll
The key to the environmental crisis Is beneath our feet
Tackling the climate crisis with central bank funded regenerative agriculture
Ellen Brown
Modelling climate impacts
Averages always underestimate the damaging consequences of climate change
Greg Reid
Why monetary policies are impotent
We need fiscal tools to get the economy going
Lars Syll
Alternative paths to MMT
The central bank will never say no to Federal government spending
L Randall Wray
Economics awaits a Darwinian revolution
The rational approach is to assume that all economies evolve
Blair Fix
BlackRock is the canary in the coalmine
Its decision to dump coal signals what’s next
John Quiggin
Volume 12 No 1 January-February 2020
Contents
Our economy is an unstable system, threatening its own survival
Accumulate, accumulate! That is Moses and the prophets!
Lars Syll
Government spending and inflation
Government spending won’t produce accelerating inflation prior to the economy reaching maximum output
Editor
The US is the world’s second largest economy
When it comes to climate change, it matters
Dean Baker
The essence of neoliberalism
A programme for destroying any collective structures that might impede pure market logic
Editor
Is a different type of economics the answer?
A paradigm shift is underway in economics
Steven Hail
The unrealistic model of William Nordhaus
A worrying model used in advising governments about the economic impact of global warming
Editor
Facing Barbarism
Humanity is facing the prospect of socio-economic and ecological collapse
David Faber
Climate Justice: Asymmetrical Responsibilities
Coco Hoskin-Murray
How Westpac is alleged to have broken money laundering laws million times
Financial misdemeanours by a major bank
Ian Fargher
I have a dream: resurrection of Westpac as a Sustainability Bank
A community bank serving social and environmental needs
David Shearman
Dying too young
The impact of economic pressures and inequality on human health and longevity
David Ruccio
The teaching of economics – captured by a dangerous sect
In society and the economy, the whole is not the sum of its parts
Lars Syll
Paul Krugman – one of Joan Robinson’s Bastard Keynesians
Editor
