The ALP are not friends of the working class

I’ve been working on a project with UnionsNT 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 […]

Economists 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 […]

The 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 […]

Inflation 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 […]

Capital 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 […]