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 […]

What 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 […]

Budgets Should Target Socioeconomic Well-Being.

It is custom in Australia to make an event around the various state/territory and federal budgets. In the past achieving some fiscal ratio has been seen as ‘responsible’ In 2016 Economics professor Ross Garnaut stated (source) “These measures should be backed by moderate and gradual cuts in spending, and moderate and gradual tax increases to […]