My Blog - provides detailed analysis and commentary on economic events from a Modern Monetary Theory (MMT) perspective.
William Mitchell is Professor of Economics and Director of the Centre of Full Employment and Equity (CofFEE) at the University of Newcastle, NSW Australia. He is also the Docent Professor of Global Political Economy at the University of Helsinki, Finland, and JSPS International Fellow at Kyoto University, Japan.
CofFEE is dedicated to providing an evidence base to support full employment and equitable distribution of opportunity, income and wealth.
Our textbook was published in February 2019. A second edition is being written at present.
This groundbreaking new core textbook encourages students to take a more critical approach to the prevalent assumptions around the subject of macroeconomics, by comparing and contrasting heterodox and orthodox approaches to theory and policy. The first such textbook to develop a heterodox model from the ground up, it is based on the principles of Modern Monetary Theory (MMT) as derived from the theories of Keynes, Kalecki, Veblen, Marx, and Minsky, amongst others. The internationally-respected author team offer appropriate fiscal and monetary policy recommendations, explaining how the poor economic performance of most of the wealthy capitalist countries over recent decades could have been avoided, and delivering a well-reasoned practical and philosophical argument for the heterodox MMT approach being advocated.
The book is suitable for both introductory and intermediate courses, offering a thorough overview of the basics, while covering everything needed for more advanced courses. Issues are explained conceptually, with the more technical, mathematical material in chapter appendices, offering greater flexibility of lecturer use.
Inflation Update - March 8, 2023
The global challenges in the face of an on-going pandemic, climate change and rising inflation - January 25, 2023
Japan and World Economy through the lens of MMT - November 3, 2022
In Conversation with Professor William Mitchell - May 25, 2022
Published by Pluto Books (UK) on September 15, 2017. The planned sequel is no longer happening.
The crisis of the neoliberal order has resuscitated a political idea widely believed to be consigned to the dustbin of history. Brexit, the election of Donald Trump, and the neo-nationalist, anti-globalisation and anti-establishment backlash engulfing the West all involve a yearning for a relic of the past: national sovereignty. In response to these challenging times, economist William Mitchell and political theorist Thomas Fazi reconceptualise the nation state as a vehicle for progressive change.
They show how despite the ravages of neoliberalism, the state still contains resources for democratic control of a nation's economy and finances. The populist turn provides an opening to develop an ambitious but feasible left political strategy. Reclaiming the Nation State offers an urgent, provocative and prescient political analysis of our current predicament, and lays out a comprehensive strategy for revitalising progressive economics in the 21st century.
Published by Edward Elgar (UK) in May 2015.
The book traces the origin of the Eurozone and shows how the historical Franco-German rivalry combined with the growing dominance of neo-liberal economic thinking to create a monetary system that was deeply flawed and destined to fail. It argues that the political class in Europe is trapped in a destructive groupthink which prevents it from seeing their own policy failures. Millions are unemployed as a result and the member states are caught in a cycle of persistent stagnation and rising social instability.
You can get a special 35 per cent author's discount - please go to the Elgar on-line shop and use the Discount Code VIP35.
Paperback version of the book now available (from June 2016) for £32.00.
Spanish language version - La Distopía del Euro - for 27.54 euros from Amazon.
German language version - Dystopie Eurozone: Gruppendenken und Leugnung im großen Stil - for 27 euros from Amazon.