RadioMMT

Anne and Kev open not one, but two, Letters From The Cape, from economist Bill Mitchell. Bill reveals the double standards of those who run our economy, and how economic assumptions seep into cultural biases. Meanwhile, Tim Gurner lets slip the real reason governments are raising interest rates. Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional AudioToo Many Things, by Ed Kuepper, from the album Starstruck. Visions Of You by Jah Wobble's Invaders Of The Heart, with Sinéad O'Connor Fat, Warm and Dreamy Synth Pad Soundshttps://orangefreesounds.com/fat-warm-dreamy-synth-pad-sounds/The song is permitted for non-commercial use under license “Attribution-NonCommercial 4.0 International (CC BY-NC 4.0)”

While the federal government's "2023 Intergenerational Report" might contain some useful data, economist Bill Mitchell helps us to understand what all the hand-waving is about. We then return to the second half of our conversation with Alan Kohler, and range over topics from government surpluses to climate change. This was our chance to discover how much we might have in common with a mainstream commentator who takes progressive economics into consideration. There is definitely some overlap. But we would frame the problems and solutions in language that makes it clear that the Australian government can never run out of Australian dollars. Show Notes Treasurer Jim Chalmers addressing the National Press Club of Australia24th August, 2023 Policy Forum PodcastBudget beyond the numbers with Treasurer Dr Jim Chalmersfeaturing a talk by Chalmers on May 31st, 2023 at the ANU, Crawford School of Public Policy Excerpts from House Question Time, 22 June 2023 Stephanie Kelton's book, The Deficit Myth, which is right, and which we are doing our best to make a part of the political mainstream. Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Beautiful World by Devo Too Many Things, by Ed Kuepper, from the album Starstruck. Quiz Show Background Music Loop with changesby Alexander Bluhttps://orangefreesounds.com/quiz-show-background-music-loop/The song is permitted for non-commercial use under license “Attribution-NonCommercial 4.0 International (CC BY-NC 4.0)”Ride To The CityExzel Music Publishing (freemusicpublicdomain.com)Licensed under Creative Commons: By Attribution 3.0http://creativecommons.org/licenses/by/3.0/

Anne & Kev speak with Alan Kohler who is one of the few financial commentators to give due consideration to Modern Monetary Theory (MMT). We reminisce about the 1970s, a time of Kombi vans and major shifts in macroeconomic policy. We consider the causes of the current inflation, and whether to trust politicians with the public purse. This is the first of two parts of our conversation with financial journalist, Alan Kohler. Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck.https://edkuepper.com/ Additional AudioToo Many Things, by Ed Kuepper, from the album Starstruck.

Whenever an MMT-friendly economist speaks about the Job Guarantee (JG), it always sounds like a win-win-win. A win for the disadvantaged, a win for low-income workers, a win for our standard of living, a win for the environment. So why isn't a job guarantee at the forefront of workers' struggles? We ponder this with former chief economist of the Australian Council of Trade Unions (ACTU), Lachlan Kerwood-McCall. Note: This is the second of two parts of our conversation with economist Lachlan Kerwood-McCall. Show Notes Full Employment Abandoned, (chapter 9) by Bill Mitchell CreditsTheme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional AudioToo Many Things, by Ed Kuepper, from the album Starstruck. https://orangefreesounds.comSongs and sound effects permitted for non-commercial use under license “Attribution-NonCommercial 4.0 International (CC BY-NC 4.0)”

What must the peer pressure be like, within a profession that keeps everyone in line with set of ideas, models, policies and practices known to be based on false assumptions, and to have detrimental effects on millions of lives? Economist Lachlan Kerwood-McCall has a great take on this. Using the example of the recent review of the Reserve Bank of Australia (RBA, Australia's central bank), Lachlan gives us some insights on how mainstream economists navigate the cognitive dissonance generated when using mainstream economics. And why is monetary policy is like "trying to do neurosurgery with a pointy rock?" Note: This is the first of two parts of our conversation with economist Lachlan Kerwood-McCall, which took place prior to the announcement of a new governor of the Reserve Bank of Australia (RBA), Michele Bullock, who will take over from Philip Lowe on 18 September, 2023. The underlying issues remain the same despite the change of personnel. Creditsblog entry by Professor Bill Mitchell"RBA Review Report ignores the real questions and proposes to entrench the failed Groupthink"The New Monetary Policy: Reimagining Demand Management and Price Stability in the 21st Centuryby Nathan Tankus Between The Lines, ABC RNTom Switzer interviews past federal treasurer, Peter Costello Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional AudioToo Many Things, by Ed Kuepper, from the album Starstruck.

Think you had to get a debt notice to be a victim of Robodebt? Think again. The troubling implications of Robodebt are manifold. Robodebt might be the least of our calamities, if the political obsession with budget surpluses continues. Robodebt probably wont be the last systemic injustice, if we don't reflect on its political dimensions. Oppression of unemployed and employed workers will continue if we don't wake up to the real drivers behind Robodebt. As the report of the royal commission into the Robo-debt says:"Anti-welfare is easy populism, useful for campaign purposes. It is not recent, nor is it confined to one side of politics ...these attitudes are set by politicians, who need to abandon for good (in every sense) the narrative of taxpayer versus welfare recipient." Show Notes 7am Podcast: Inside Robo-debt: The Whistleblower The Age: PwC repaying almost $1 million in robo-debt consulting fees Credits Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck. Flawed Optimist, by Brown Spirits https://orangefreesounds.com/quiz-show-background-music-loop/https://orangefreesounds.com/fat-warm-dreamy-synth-pad-sounds/Songs permitted for non-commercial use under license “Attribution-NonCommercial 4.0 International (CC BY-NC 4.0)” https://orangefreesounds.com/magic-transition/Sound effects are permitted for non-commercial use under license “Attribution-NonCommercial 4.0 International (CC BY-NC 4.0)” Dewey's DittyExzel Music Publishing (freemusicpublicdomain.com)Licensed under Creative Commons: By Attribution 3.0http://creativecommons.org/licenses/by/3.0/ IN FULL: Treasurer Jim Chalmers speaks about the economy, rising interest ratesABC News (Australia)Press Conference on Jul 18, 2022 How Centrelink's 'robodebt' ran off the railsABC Background Briefing, 5 March 2017

In his eighth "Letter From the Cape", economist Bill Mitchell, co-founder of Modern Monetary Theory (MMT) answers one of the great economic mysteries, if the Australian federal government can never run out of Australian dollars, why does it tax us? The rest of the show is a dog's breakfast. But then, it is the fifth Friday. Show NotesExcerpts from a panel session: Do we need ‘big’ government?held at the Adelaide Festival's Writers' Week, in March 2023Broadcast Wed 22 Mar 2023 at 8:00pmhttps://www.adelaidefestival.com.au/events/2023-writers-week/big-the-role-of-government/Panel chair: Paul Barclay from ABC Radio National.Panelists:Richard Dennis -- economist and Executive Director, The Australia InstituteAlan Kohler -- financial analyst at ABC NewsWayne Swan -- former Federal Treasurer with the Labor Party, notably during the GFCExcerpts from House Question Time, 22 June 2023Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck.https://edkuepper.com/Additional AudioToo Many Things, by Ed Kuepper, from the album Starstruck.Quiz Show Background Music Loop with changesby Alexander Bluhttps://orangefreesounds.com/quiz-show-background-music-loop/The song is permitted for non-commercial use under license “Attribution-NonCommercial 4.0 International (CC BY-NC 4.0)”Ride To The CityExzel Music Publishing (freemusicpublicdomain.com)Licensed under Creative Commons: By Attribution 3.0http://creativecommons.org/licenses/by/3.0/

Professor L. Randall Wray, co-founder of Modern Monetary Theory (MMT) walks us through the topsy-turvy world as revealed by MMT. An American Congress that doesn't want the people to know who they really represent. The pandemic spending that saved us from a surplus. Central bankers who ruthlessly destroy parts of their own financial system. Along the way we also learn of some surprising ingredients that go into the making of an MMT economist. Show Notes recent articles by L. Randall Wray Alternative paths to modern money theory, 2019 by L. Randall Wray Making Money Work For Us by L. Randall Wray(for the layperson) Money for Beginners: An Illustrated GuideBy: L. Randall Wray, Heske van Doornen (Illustrator)(for the layperson) Macroeconomics by William Mitchell, L. Randall Wray, Martin Watts Capital (Volumes One and Two) by Karl Marx (1867) The Theory of the Leisure Class by Thorstein Veblen (1899) The Theory of Business Enterprise by Thorstein Veblen (1904) The General Theory of Employment, Interest and Money by John Maynard Keynes (1936) Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck.

Raw. Unedited. Live. Anne and Kev cut loose for 3CR's 2023 Radiothon. Alas, Anne and Kev made it to only half their $ target by the end of their Radiothon hour. But you still have time to make a difference! If you are listening to this podcast during the month of June 2023, please consider donating some of that dollar-denominated, sovereign fiat currency at https://www.3cr.org.au/donate. Meanwhile, in episode 7 of Letter From the Cape, economist Bill Mitchell shows us how the real workings of the economy have been hidden from us since we were kids. Anne applies the MMT Lens to a Netflix show, and Kevin launches his one-man campaign against the interest rate rises. A big thank-you to everyone who donated so far. We *are* listener-supported! Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck.https://edkuepper.com/ Additional AudioToo Many Things, by Ed Kuepper, from the album Starstruck.

The ideas that come out of the mouths of past and present federal treasurers. The ideas that saturate the media, and hinder our ability to demand positive change. Anne & Kev deconstruct some typical mainstream conversations, so you too can recognise dangerous misinformation when you hear it. The ideas that perpetuate a dysfunctional economy. An economy that deliberately keeps hundreds of thousands out of work and in poverty, burdens students with debt, does not take adequate care of the disabled and elderly, and trashes the environment. Change begins with liberating ourselves from false economic ideas. Meanwhile, in episode #6 of Letter From the Cape, economist Bill Mitchell reveals that everything we thought about the national government debt is wrong, including that it is not a debt! Show Notes Letter from The Cape Podcast Credits Between The Lines, ABC RN Do we need ‘big’ government? Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck.