CFMEU Trapped by Neoliberal Economics
The National Press Club is one of those talking head clubs that usually espouse corporate propaganda from the head of some corporation. Every now and then they allow a ‘progressive’ to speak. A few weeks ago it was Zach Smith, the national secretary of the CFMEU. The gist of the speech was for a national…
Keep readingA Universal Basic Income is not a Solution to Ameliorating Poverty
I had a conversation the other day with respect to a universal basic income. I disagreed with the concept of a basic income, universal or otherwise. However, despite some framing and language differences I think we were more or less of the same opinion that work is intrinsic to our identities and it was capable…
Keep readingGutless superannuation (retirement) reform
The ALP has come out with a policy that taxes superannuation accounts with $3million or more at 0.30c in the dollar instead of the 0.15c dollar. My first reaction was, ‘So what?’, they’ve marginally reduced the wealthy propensity to save. They can still maintain a very high material level of wealth and they’ve done nothing…
Keep readingAn Orthodox Economic Lens Means Poor Policy
I’ve neglected this blog for a while. I guess life took hold and I’ve concentrated on work and maintaining my sanity. I work within the labour movement and the further you delve into the power structures the more you realise those that ‘run the show’ are captured in earning rentier (unearned) income for themselves and…
Keep readingChristmas Eve
It is Christmas Eve and I’ve been playing around with the website design. I lost my old theme playing with WordPress settings and it no longer seems to be available. I am not entirely happy with the layout (particularly for viewing all blog posts) but I’ll improve it in time. I’ve always said I’d commit…
Keep readingThe ALP are not friends of the working class
I’ve been working on a project with UnionsNT strongertogethernt.com.au The last week has been foucsed on breaking down economic jargon and giving a decent analysis on the governments ‘budget’. Anyone that has had some introduction to economics knows government budgets are not like households. MMT states the difference between a currency issuer and a currency…
Keep readingThe NT Government lost in neoliberal spin
I’ve been active writing the stronger together campaign blog. The positions our elected representatives take are increasingly more and more to the advantage of capital. When you are so close to elected representatives (as I am here by virtue of my work and a small population in the NT) you can see the sitting members…
Keep readingAnd that’s a wrap!
Well it has been a busy few weeks and I have managed to launch an MMT informed campaign for a union peak body and commence work on a workers journal. I’ve developed some decent graphic design and website building skills. Canva is unbelievable. I can take ideas and turn them into simple pictures. I’m most…
Keep readingIt’s time to develop decent working class material
In an earlier post We need to organise and attack current fiscal policy I wrote about a project I was working on to take a different perspective on what the economy is and our view of government deficits. That framework would then take place for acting on climate change, alleviating poverty and creating a better…
Keep readingProductivity Commission ties itself in knots
I seldom follow the mainstream news. Most of the time it is discussion around a pressing issue and the analysis tends to amount to what we should be doing about it. The conclusion is usually ‘we (the Australian nation) have no money?’ So we need to rely on the charity of private investment. That plays…
Keep readingWork is Intrinsic to our Identity
As people start to grasp the power of a currency issuer thoughts lead to the idea of a universal basic income. Rejections against it are based on ‘not wanting to give money to millionaires’. Then there are those that advocate for a basic income. An income for people that choose not to work. The first…
Keep readingWe Need to Organise and Attack Current Fiscal Policy
I’ve been busy working on a project that tries to bring progressive organisations together and critique Governments fiscal policy from an MMT perspective. It focuses on two key points. The first is the Australian Government issues currency. It spends with an appropriation bill and the RBA uses a computer to mark up the size of…
Keep readingUnion Advocates for Real Wages Cuts!
I’ve been enjoying a period of annual leave but today I got word the Queensland Teachers Union (QTU) was advocating for real wages cuts! (source) Wage increases in Australia are determined by varying methods. Award wages determine the minimum wage and increases are made on an annual basis by the Fair Work Commission after considering…
Keep readingWe Treat the Unemployed with Disdain
It’s Thursday and I have decided I will write three posts a week. Tuesday, Wednesday and Thursday. Today’s post continues on from yesterdays Unemployment is a Political Choice which described when, why, and how we started counting the unemployed. How it began in an era of Full Employment where the Australian Government aimed for spending…
Keep readingUnemployment is a Political Choice
I read this article on SBS news today. It is to do with our pernicious system of ‘mutual obligations’ needed to be performed in order to receive the below poverty line unemployment benefit of $46 a day. The ALP is ‘wiping’ the demerits accrued under the previous government and ‘tweaking’ the points based system. The…
Keep readingEconomists are as Trustworthy as Astrologists
Every economists and his dog has written something on inflation and wages. Opinion on what *should* happen is as colourful and as mixed as a fruit and nut mixture and tends to reflect an ideological preference for either workers or capitalists. I’ve documented my understanding of inflation as a conflict between labour and capital over…
Keep readingThe Flawed ‘Logic’ of Capital
My last two posts, Capital Rule: Interest Rates, Inflation and The RBA ,and Inflation is a Conflict looked at how inflation is a conflict over national income (GDP) and the tools used to ameloriate the conflict (monetary policy) between labour and capital benefit capitalist. The labouring class over the neoliberal era are almost powerless to…
Keep readingInflation is a Conflict
I’ve seen texts written by progressive economist on the sources of inflation being driven by supply side issues and not because of demand-pull (wages). They’d be correct! Their articles detail how rises in rates won’t assist with prices rising from supply side issues. However, one ended by stating the RBA needs to be clear why…
Keep readingCapital Rule: Interest Rates, Inflation and The RBA
I’ve been absent from my blog for a while. Sometimes your intentions don’t get realised and life gets in the way! I’ve decided to recommence posting as I learn more about macroeconomics and political economy (a lot of self study) and throw my thoughts out into the public. I find it infuriating that the media…
Keep readingWhat is the purpose of fiscal policy?
In my understanding of what Modern Monetary Theory is and observing the public discourse as journalist attempt to explain MMT, I am encountering the narratives and metaphors I had to break in order to appreciate how MMT helps transform the political debate. This article by Ross Gittins is a good example. The article starts out…
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