Solving Our Unemployment Crisis presentation, April 19, 2016

Today, I am in Madrid for the start of the public events associated with the promotion of the Spanish version of my current book – Eurozone Dystopia: Groupthink and Denial on a Grand Scale. I travelled this morning from Granada to Madrid and am tied up for the rest of the day. So here is a video of a keynote address I presented on April 19, 2016 to the inaugural Australian Unemployed Workers’ Union Conference Solving Our Unemployment Crisis in Melbourne, Australia. You can find out more about the Union from their – homePage – and their – Facebook Page. They need more members and the support (funding, promotion etc) from all employed people who care about the problem of unemployment. The talk and questions go for about 37 minutes.

Upcoming Spanish Speaking Tour and Book Presentations – May 5-13, 2016

Here are the details of my upcoming Spanish speaking tour which will coincide with the release of the Spanish translation of my my current book – Eurozone Dystopia: Groupthink and Denial on a Grand Scale (published in English May 2015).

You can purchase the Spanish version of the book – La Distopía del Euro – for 27.54 euros from Amazon.

Today it is Madrid. Note: an extra date has been added at the end of the tour for Madrid (May 12, 2013).

You can save the flyer below to keep the details handy if you are interested. All events are open to the public who are encouraged to attend.


Modern Monetary Theory and Practice: an Introductory Text

The KINDLE edition is now out – Details – or through the relevant Kindle store for your currency (you can search for the relevant link).

The first version of our MMT textbook – Modern Monetary Theory and Practice: an Introductory Text – was published on March 10, 2016 and is authored by myself, Randy Wray and Martin Watts.

It is available for purchase at:

1. (US 60 dollars)

2. (£42.00)

3. Amazon Europe Portal (€58.85)

4. Create Space Portal (US60 dollars)

By way of explanation, this edition contains 15 Chapters and is designed as an introductory textbook for university-level macroeconomics students.

It is based on the principles of Modern Monetary Theory (MMT) and includes the following detailed chapters:

Chapter 1: Introduction
Chapter 2: How to Think and Do Macroeconomics
Chapter 3: A Brief Overview of the Economic History and the Rise of Capitalism
Chapter 4: The System of National Income and Product Accounts
Chapter 5: Sectoral Accounting and the Flow of Funds
Chapter 6: Introduction to Sovereign Currency: The Government and its Money
Chapter 7: The Real Expenditure Model
Chapter 8: Introduction to Aggregate Supply
Chapter 9: Labour Market Concepts and Measurement
Chapter 10: Money and Banking
Chapter 11: Unemployment and Inflation
Chapter 12: Full Employment Policy
Chapter 13: Introduction to Monetary and Fiscal Policy Operations
Chapter 14: Fiscal Policy in Sovereign nations
Chapter 15: Monetary Policy in Sovereign Nations

It is intended as an introductory course in macroeconomics and the narrative is accessible to students of all backgrounds. All mathematical and advanced material appears in separate Appendices.

A Kindle version will be available the week after next.

Note: We are soon to finalise a sister edition, which will cover both the introductory and intermediate years of university-level macroeconomics (first and second years of study).

The sister edition will contain an additional 10 Chapters and include a lot more advanced material as well as the same material presented in this Introductory text.

We expect the expanded version to be available around June or July 2016.

So when considering whether you want to purchase this book you might want to consider how much knowledge you desire. The current book, released today, covers a very detailed introductory macroeconomics course based on MMT.

It will provide a very thorough grounding for anyone who desires a comprehensive introduction to the field of study.

The next expanded edition will introduce advanced topics and more detailed analysis of the topics already presented in the introductory book.

That is enough for today!

(c) Copyright 2016 William Mitchell. All Rights Reserved.

This Post Has 9 Comments

  1. Biil,

    I couldn’t quite catch the term that you say Clyde Cameron used comes across to me as ‘dogludger'(!)
    Maybe its Australian slang, or my hearing is not great.


  2. I believe what you herad was dole bludger ‎(plural dole bludgers). From the wiktionary: (Australia, New Zealand, pejorative, slang) An unemployed person who has no intention of seeking a job, and survives on government-funded unemployment benefits.

  3. Thanks- not heard that one before, we use more ‘elegant’ phrases in the UK like: ‘those that don’e get up in the morning.’ We like to be awfully polite about insulting and demeaning people over here.

  4. As always, a great presentation. Good point about arguing from outside the tent.

    I’m not sure how many people would be interested in joining it, since parties nowadays seem to be about protecting and promoting special interests rather than doing things that everyone can generally agree is best for society, but how about a Fact Based Policy Party?

  5. Jake- that’s true ‘benefit scrounger’ is used by non-politicians in general but the slimy politicians tend to use:

    ‘Those that don’t get up in the morning’
    ‘ Skivers not strivers’
    ‘Hard working families’ (implying those who are unemployed are letting the ‘side’ down)
    ‘Those with their blinds drawn’ (Osborne-the oleaginous creep)

    ‘Benefit scrounger’ is more of a Daily Mail/Telegraph/Sun phrase to whip up hate and marginalisation.

    Basically its a way of trying to pat those who are on a treadmill of low pay and debt to nowhere on the head and say: ‘good boy/Girl-YOU’RE doing the right thing’, unlike…’

  6. Thanks for an illuminating presentation at the Solving Our Unemployment Crisis Conference, Prof. Mitchell. The behaviour of Green and Labor politicians brings to mind the old Upton Sinclair quote: It is difficult to get a man to understand something when his salary depends upon his not understanding it. Liberal Party politicians I regard as corrupt class warriors beyond redemption.

  7. I finally got around to watching this video through. It is a great summary.

    I have two questions:

    Is there a link that shows the graph with the low unemployment in red, please?

    Secondly, I heard the Joe Hockey was interviewed when he was treasurer. I was told that he spoke about how he was able to lift himself out of a poor background. Did he benefit from that period of low unemployment and of budget deficits?

  8. Dear Robert Lawrence (at 2017/01/07 at 11:09 am)

    I think this is the graph you were interested in.

    Australia unemployment rate history - 1861-2016

    As to you second question, I know nothing about the former Treasurer’s upbringing.

    best wishes

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