Stephen Williams — How Mainstream Economic Science Has Led To Clueless Governments

More framing.

This is a actually skillful article. Concise, precise, as well as clearly formulated as well as then that anyone tin sympathise it. Disseminate widely.

Here is the lede:

Governments of all stripes base of operations their policies on mainstream economics. Powerful challenges to the mainstream, peculiarly from ecological economic science as well as modern monetary theory, explicate why nosotros are inwards a hole as well as can’t seem to larn out.

If this article is largely correct, nosotros tin conclude that the economic science profession is a major crusade – straight or indirectly – of well-nigh modern evils.

In proverb that, I depict heavily on the operate of Australian academic economists Professor Robert Costanza, Associate Professor Philip Lawn, Professor Bill Mitchell as well as Dr Steven Hail.

Taken together, their operate – inwards conjunction amongst colleagues overseas – claims that mainstream economic science is fundamentally incorrect left, right as well as middle — although I don’t hateful to imply that these 4 scholars concur on every point.

Mitchell – a co-originator of modern monetary theory (MMT) – shows that nosotros could own got amount job speedily amongst a job guarantee, that federal budget deficits are normal as well as desirable, that the federal authorities never needs to borrow money, as well as that federal taxes do non fund anything.

The Federal Government should focus on non-inflationary amount job as well as non budget outcomes, because nosotros tin spend prudently to avoid inflation as well as ecological overshoot....

Independent Australia
How mainstream economic science has led to clueless governments

Stephen Williams

See also

For many, Brexit is a right-wing projection because the principal authors are an extreme chemical component of the British Tory Party. However an Australian academic volition endure putting frontward a rattling unlike thought at a populace coming together inwards Galway.

Bill Mitchell is professor of economic science at the University of Newcastle, New South Wales, Australia, a widely published author, as well as a notable proponent of Modern Monetary Theory. He is besides the co-author, amongst Italian political theorist Thomas Fazi, of Reclaiming the State – Influenza A virus subtype H5N1 Progressive Vision of Sovereignty inwards a Post-Neoliberal World.
That mass volition cast the reason of his speak inwards Galway, entitled Reclaiming the State, which takes house on Midweek Oct three at 8pm inwards the Harbour Hotel. Prof Mitchell argues that progressives as well as the political Left should non regard Brexit - as well as the electrical flow problems of the European Union as well as monetary matrimony by as well as large - every bit a crusade for despair, simply every bit an chance to comprehend a progressive, liberating, vision of national independence, to refuse the EU’s austerity straitjacket as well as to implement a democratic socialist platform, “which is impossible inside the EU, allow lone the euro-zone”.

In Reclaiming the State, Mitchell as well as Fazi dispute that national independence has larn irrelevant inwards a globalised world. They fighting that it is exclusively past times reclaiming the the world from supranational institutions, such every bit the EU, that people tin interruption away from the neo-liberal economical dogma of the privatisation of resources as well as populace services, deregulation of finance, the reduction of workers’ rights inwards collective bargaining, cuts to social programmes, as well as the lowering of taxes on wealth as well as uppercase at the expense of the middle as well as working classes.

The lawsuit is organised past times The Desmond Greaves School, as well as volition endure chaired past times Terry McDonough, Professor Emeritus of Economics at NUI Galway.

Galway Advertiser
Public coming together to inquire ‘Is Brexit is an chance for Ireland?’