It's Wednesday, and as usual I scout around various issues that I have been thinking…
On holidays
The blog is on holiday until Monday, December 30, 2019 although a harder than usual quiz will appear later this week. All the best from my local beach (Nobbys). For the rest of the week I am finishing writing commitments that have approaching deadlines and have to travel to my next speaking engagement at the end of the week.
Woodford Festival, Queensland, December 28, 2019
I am talking at the Woodford Folk Festival on MMT and Green Transition this Saturday, at 11:10 in the GREENhouse as part of the Festival’s Talks Program.
If you are attending the Festival, then it would be great if you stopped by and joined the audience and shared your ideas.
For – Further details.
Musical accompaniment …
This is what I am listening to while working today. It is one of my favourite post-minimalist tracks – Embers (in Cm).
It is from the 2002 album – Memoryhouse – by pianist/composer Max Richter, which was his first album.
You can hear the whole (excellent) album HERE.
Perfect way to start the 2-day holiday.
That is enough for today!
(c) Copyright 2018 William Mitchell. All Rights Reserved.
Bill, best holiday wishes and immense gratitude for your most energetic and persistent efforts to get the MMT message out all over the world!
Update on MMT in Canada:
Canada’s Central Bank Governor feels need to step up and stomp on MMT
https://business.financialpost.com/news/economy/stephen-poloz-throws-some-cold-water-on-the-modern-monetary-theorists#comments-area
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Bill Mitchell quoted in Globe and Mail letter to editor (paper circulation over 300,000)
Re Liberals Report Larger Deficits Ahead Of First Minority Budget (Dec. 17):
Fiscal benchmarks seem to have no economic justification in today’s fiat money system. How else to explain the shifting definition of a fiscal anchor that ranges from “balanced budgets” to “modest deficits” to “stable debt-to-GDP ratios,” differences encompassing tens of billions of dollars?
The determinant restraint on spending should be the economy’s resource capacity. Bill Morneau should focus on real-world effects, particularly the unemployment rate. Through targeted spending, more than one million Canadians could be given the opportunity to earn income and contribute to society. Then fiscal prudence is warranted to forestall inflation.
As Australian economist William Mitchell states: “Focus on what matters – employment, equity, environmental sustainability. … The fiscal balance will just be whatever it is – a relatively uninteresting and irrelevant statistical artifact.”
Merry Christmas, Bill. Thanks for all the work you’ve done this year. Much appreciated. Enjoy your holiday!
So appreciative of all the effort you put into explaining the intricacies of MMT and their relationship to contemporary macroeconomics & socio political issues. Thank You!
My view: https://photos.app.goo.gl/oADJ165pZgtkEuid7
Merry Xmas Bill !
Something to make you laugh out loud whilst on holiday.
GROUPTHINK nonsense seeps out of every pour. So much time spent putting together complete tripe and totally unaware the garbage that he has produced. Only ever looks at one side of the balance sheet.
http://chokkablog.blogspot.com/2019/12/how-much-of-scotlands-tax-revenue-does.html
He is considered the ” budget deficit expert in Scotland ” The Telegraph love him and BBC Scotland.
🙂