William Mitchell – Modern Monetary Theory

On September 28, 1976, then British PM gave an historic speech at the Annual Labour Party Conference held in Blackpool.

In recent months, the mainstream media commentators have been issuing increasing lurid predictions of how the ‘out of control’ fiscal situation in Japan is killing the yen and a full-scale currency crisis was imminent, after the yen moved across the ‘fabl…

I am travelling a lot today and so this is just a brief reflection on the response in the media to yesterday’s National Account release from the Australian Bureau of Statistics.

The Australian Bureau of Statistics (ABS) released the latest – Australian National Accounts: National Income, Expenditure and Product, June 2026 – today (September 2, 2026).

I have been very sad in the last week or so as the news of the environmental devastation and its impact on human life in Nepal has steadily infiltrated our attention.

As a followup on Monday’s blog post – Australian government debt approaching $A1 trillion – who cares?

The neoliberal era has made humanity progressively crazy when it comes to currency matters.

Last month, I noted that the sharp shift towards part-time work was the first signal that a labour market contraction was coming.

Today (August 19, 2026), the Australian Bureau of Statistics released the latest – Wage Price Index, Australia – for the June-quarter 2026, which shows that the aggregate wage index rose by 3.2 per cent over the 12 months down from 3.4 per cent in the Mar…

The ECB recently published in their Occasional Paper Series the following report (No. 397) – Prohibition of monetary financing: an economic perspective – which purports to justify the current practice of central banks of not directly buying the debt issued