RadioMMT

How about a budget analysis without a 'Spurt in sight?Yes we had a federal budget this week. And yes it was in the context of recalibrating a budget that was formulated by the opposition just before it lost the election. So this is the budget that gives the new government its baseline; a budget to match its immediate policy changes. Anne and Kev do their due diligence with MMT-advocate Avis Williamson, to look at what this budget says about the Labor government's policies.We also ask, what is an advocate of Modern Monetary Theory (MMT) to think, when a review of Australia's central bank assumes the bank's failure to manage inflation has something to do with the RBA's personnel, rather than the defunct economic theories that presume a central bank has the capacity to fine tune inflation.Anyone can make a submission to the review of the RBA (Reserve Bank of Australia). They might need to hear that it is ok for them to abandon the discredited neoclassical, neo-Keynesian economic theories about monetary policy, and embrace theories that would actually enable them to contribute to the wellbeing of Australians.CreditsTheme music:One in Ten by UB40St. Germain by Alice Ivy

What is an advocate of Modern Monetary Theory (MMT) to think when some Marxists accuse MMT of being not much of a theory, and MMT-ers as bourgeois apologists for capital? Does MMT naively advocate printing money? Do we believe we can print our way out of economic and ecological crises?Can we flush out the irreconcilable differences between Karl Marx and MMT?With the help of economist, Dr. James Juniper, we check our theoretical tyres for punctures.CreditsTheme music:One in Ten by UB40St. Germain by Alice IvyMusicThe Reds Under the Bed Activist Cabaret

Anne & Kev talk about the Job Guarantee, which is the basis of a functional economy that serves its population. This concept was foundational to Professor William Mitchell's development of Modern Monetary Theory.Music:Nun's Dream - Phil & the TilesSink - Holly HebeTheme music:One in Ten by UB40St. Germain by Alice Ivy

Anne & Kev discuss the appaling application of Robodebt by the Morrison governemnt and the ridiculous notion of $1trillion of govt debt. Then they get stuck into the Non-Accelerating Inflation Rate of Unemployment (NAIRU)Music:Camp Dog – King StingrayDiscotheque Afrik – Digital AfrikaTheme music:One in Ten by UB40St. Germain by Alice Ivy

Why are interest rates going up? Why is inflation going up? Why is it that every time you ask a question about economics you uncover yet another swindle?By the end of this second half of our conversation with Wayne McMillan, you will know more than many past and present federal treasurers about how to run a national economy. Spoiler: it doesn't include blaming wage earners for this latest bout of inflation.CreditsReserve Bank Governor Philip Lowe warns it is unclear how high interest rates will goABC News (Australia), 7.30, June 14, 2022IN FULL: Treasurer Jim Chalmers on the interest rate decision and RBA announcement, ABC News (Australia), June 7, 2022IN FULL: Treasurer Jim Chalmers speaks about the economy, ABC News (Australia), Press Conference on July 18, 2022Professor Joseph E. Stiglitz on 7.30 with Sarah Ferguson, July 6, 2022Theme music:One in Ten by UB40St. Germain by Alice Ivy

Past and present federal treasurers voluntarily shackle themselves in the imaginary debt dungeon. We'd be happy to let them rot there, except they force the rest of us to suffer the real consequences of their flagellating fantasies. And so the current Australian Labor government refuses to spend enough to create the jobs that would lift all people out of poverty.How shall we free ourselves? Perhaps we could follow the example of lifelong "student" of economics, Wayne McMillan, who recounts his  journey through the thickets of mainstream (orthodox) to a more enlightened (heterodox) understanding of the economy.Show NotesModern Monetary Theory: Snake Oil or Showing how to Fund a Good Society?An Evening with Wayne McMillan, Economic Reform Australia, and Frank Stilwell, Political Economy, University of SydneyOct 19, 2021Radical economics: The Political Economy dispute at Sydney Universityby ABC RN, 1 Sep 2013CreditsTheme music:One in Ten by UB40St. Germain by Alice Ivy

We've proven it! Beyond a shadow of a doubt. The current "employment services" system is "mean", "horrible" and "hostile" for no legitimate reason.We speak with Associate Professor Elise Klein, about how the previous conservative Coalition government in Australia ran a "natural experiment." Brought on by the covid pandemic, the results of what would otherwise have been an unethical trial, show that people relying on social security benefits are suffering needlessly.The temporary increase in unemployment benefits reduced poverty to almost zero, and proved the government can afford to make these payments. The temporary suspension of mutual obligations proved unemployed workers do not need to be subjected to the sadistic regime of "mutual obligations" in order to make valuable contributions to their families, community and society.Why is the current Labor government okay with the continued abuse of unemployed workers? Maybe you should contact employment minister Tony Burke, and ask him.The Hon, Tony Burke, MPMinister for Employment and Workplace [email protected] Minister, ...Perhaps Tony Burke could speak with his colleague Andrew Charlton, federal Labor MP in the seat of Parramatta, who in November 2021 said, "If you raise the unemployment benefit... you will lift an enormous number of people out of poverty... it's very hard to understand why that wouldn't be a big priority".MusicTheme music:One in Ten by UB40St. Germain by Alice Ivy

Are we "stumbling zombie-like into a digital dystopia"?From the frontlines of a NON-full employment economy, we speak with Dr. Simone Casey on her observations of Workforce Australia.Heterodox economists often say, there is no such thing as a "natural" or "free" market. All markets need government regulation in order to exist. Case in point: the privatised "employment services" market. This market requires both government regulation, and government money, in order to exist.This market is going through a shake-up via new regulation -- a new contract -- transforming the market from "jobactive" to "Workforce Australia". But is this "market shake-up" going to help unemployed workers find meaningful, secure, decent work? Or will it merely refine the government's surveillance and punishment of people receiving unemployment benefits?Show NotesTo contact ACOSS policy officer, Dr. Simone Casey, with your stories about Workforce Australia,email Simone at [email protected](link sends e-mail)Points-based Activation in Workforce Australia – ACOSS FAQMutual obligations and the New Employment Services model (NESM) - ACOSS briefingPoints Based Activation System(link is external)Introduction to the Points Based Activation System for Workforce Australia(link is external)Explainer - Workforce Australia and Points Based Activation System (PBAS)(link is external)GetUp! petition to employment service minister Tony BurkeAustralian Unemployed Workers' Union (AUWU)Mutual Obligation: Independent job seeker Satisfaction SurveyDr Simone Casey, January 2020

Anne & Kev are joined by Tilda & Jordan who share alternate slots on Fri evenings under the Squatters And Unwaged Airwaves (SUWA) banner. We talk about why everyone should support 3CR as a radio station. If you think that because this is an old episode it doesn't matter anymore, well it does, because the station is still going, but only because of the support of well intended, very good people. You could be one of them.

This episode we have a listen to Australian economist Richard Denniss,  (Executive Director of The Australia Institute) who spoke at a New Economy Network Australia (NENA) forum about the 2022 Federal Budget. Richard talks about MMT in favourable terms, without necessarily jumping on the MMT band wagon. He also defines some well defined criticisisms of the Australian Governments spending priorities.