I got the Wellington Public Library to get a copy of Stephanie Kelton’s (one of MMT’s heavy hitters) The Deficit Myth. This is an excellent intro for non-economists into MMT. Also worth checking out is a recent you tube presentation by Victoria University economist Geoff Bertram where he references both Mitchell and Kelton.
I like this interview .....but to gain a wider readership .......there need to be more translations from "economese ". One of the problems is how disengaged people are from thinking politically, and how political economics has nothing to do with them.......How to change that somewhat? Not impossible.
I hope to do my second PhD under Bills supervision (he is very busy). I am also writing a book ('Money or the Bag NZ) that "shows a solution" for NZ using the MMT lens. There are many, many barriers to overcome if we want full employment and equity in NZ. Prof Jane Kelsey (FIRE Economy 2016) writes about legal barriers. Getting public attention (social media distraction, daily work and life pressures, illiterate media and commentary), transforming the public sector and tertiary education (macroeconomics and policy), cognitive constraints (George Lakoff 'the lie becomes the truth) and entrenched moral belief systems are' some of the barriers I will discuss. Then there is the demise of the liberal-progressive "left" political movement in NZ and our willingness to give away economic sovereignty to a 'model' of the 'Washing)ton Consensus (IMF, World Bank, US Fed, US Treasury. I am not very optimistic about NZers wanting or getting 'change'. And when we continue to teach "mythenomics" in universities around the world, is there any hope when they just infect the NZ Treasury and other treasuries around the world? Politicians are not in charge of economic management. Politicians always 'surrender' to the 'experts' in the Treasury so that economic management is protected from democratic forces.
Thanks Dr Zuben - soon to be Dr Dr Zuben! Did you hear Jim Bolger comparing now to the 1930s and saying we needed a similar adoption of socialism to deal with it. I paraphrase but he did use the word socialism. Mr Employment Contracts Act himself. Interesting times.
Bolger has shown that he can change his mind. Selling the rail to Toll etc. All we have to do is change our thinking 180 degrees. Use employment to control inflation instead of using unemployment. This is how we get around the dilemma of the Phillips Curve (Inflation% versus Unemployment%). This is why we need an understanding of money and monetary systems (MMT) so we understand that a Job Guarantee Scheme is 'affordable'. It is interesting that the far-Left in NZ (e.g. Sue Bradford) do not want to understand MMT because it would potentially give politicians 'too much money'. So I ask, what is wrong with spending heaps of cash on employment and poverty?
Aaaaaaah, so the embers of #MMT are smouldering in Aotearoa. Very pleased to discover you Jeremy Rose, and you Dr Zuben.
I got the Wellington Public Library to get a copy of Stephanie Kelton’s (one of MMT’s heavy hitters) The Deficit Myth. This is an excellent intro for non-economists into MMT. Also worth checking out is a recent you tube presentation by Victoria University economist Geoff Bertram where he references both Mitchell and Kelton.
I like this interview .....but to gain a wider readership .......there need to be more translations from "economese ". One of the problems is how disengaged people are from thinking politically, and how political economics has nothing to do with them.......How to change that somewhat? Not impossible.
Excellent thanks, I'm sharing this widely & hope the concepts will gain traction
I hope to do my second PhD under Bills supervision (he is very busy). I am also writing a book ('Money or the Bag NZ) that "shows a solution" for NZ using the MMT lens. There are many, many barriers to overcome if we want full employment and equity in NZ. Prof Jane Kelsey (FIRE Economy 2016) writes about legal barriers. Getting public attention (social media distraction, daily work and life pressures, illiterate media and commentary), transforming the public sector and tertiary education (macroeconomics and policy), cognitive constraints (George Lakoff 'the lie becomes the truth) and entrenched moral belief systems are' some of the barriers I will discuss. Then there is the demise of the liberal-progressive "left" political movement in NZ and our willingness to give away economic sovereignty to a 'model' of the 'Washing)ton Consensus (IMF, World Bank, US Fed, US Treasury. I am not very optimistic about NZers wanting or getting 'change'. And when we continue to teach "mythenomics" in universities around the world, is there any hope when they just infect the NZ Treasury and other treasuries around the world? Politicians are not in charge of economic management. Politicians always 'surrender' to the 'experts' in the Treasury so that economic management is protected from democratic forces.
Thanks Dr Zuben - soon to be Dr Dr Zuben! Did you hear Jim Bolger comparing now to the 1930s and saying we needed a similar adoption of socialism to deal with it. I paraphrase but he did use the word socialism. Mr Employment Contracts Act himself. Interesting times.
Bolger has shown that he can change his mind. Selling the rail to Toll etc. All we have to do is change our thinking 180 degrees. Use employment to control inflation instead of using unemployment. This is how we get around the dilemma of the Phillips Curve (Inflation% versus Unemployment%). This is why we need an understanding of money and monetary systems (MMT) so we understand that a Job Guarantee Scheme is 'affordable'. It is interesting that the far-Left in NZ (e.g. Sue Bradford) do not want to understand MMT because it would potentially give politicians 'too much money'. So I ask, what is wrong with spending heaps of cash on employment and poverty?