Video of Australian book launch of ‘Modern Monetary Theory: Bill and Warren’s Excellent Adventure’

It’s Wednesday and as usual I am writing about a few issues rather than providing a detailed analysis of a specific issue. Today, I publish the video of Australian launch of our new book – Modern Monetary Theory: Bill and Warren’s Excellent Adventure. I also comment on the current situation in the Middle East and finish with some great music from the rather odd collaboration between Oscar Peterson and Stéphane Grappelli in the early 1970s.

Melbourne Book of my latest book

On September 12, 2024, Readings Bookshop hosted the Australian book launch for my new book with Warren Mosler – Modern Monetary Theory: Bill and Warren’s Excellent Adventure (published July 2015 by Lola Books).

The ABC Finance presenter and financial journalist – Alan Kohler and I discussed the book before a live audience of about 60 people.

There was a Q&A session to follow our discussion.

It was a nice evening and the response of the audience was positive.

Many thanks to Pauline at Readings, Alan and film maker Adam Farrington-Williams and his team for hosting, asking questions, and providing the footage (in that order).

You can purchase the book from a range of outlets.

But the cheapest places are:

1. Global – Lola Books – €14.00.

2. Australia – Readings – Modern Monetary Theory: Bill & Warren’s Excellent Adventure – SA29.99 (if they are out of stock new stock will be available by November 20, 2024).

Rogue nations

It is hard to get my head around all the shocking carnage and human rights violations that Israel and their Western enablers such as the US and Britain are creating in the Middle East.

I know that a scale of it has been going on for decades as the Zionists work away to eliminate any semblance of the – State of Palestine – is officially recognised by 146 out of 193 UN Member States.

But what is happening at present in Gaza, the West Bank, Lebanon, Yemen, is of such a scale that it would be unbelievable if it wasn’t true.

Here is the list of the states that provide – International recognition of the State of Palestine.

My own country – Australia – shamefully tries to pretend it cares for the Palestinian people but refuses to join the majority of nations recognising the Palestinian state.

Even Labor politicians are pro-Israel, which realistically means they are against Palestine.

The recognition was forced on the Labor Party at its annual conference in 2021 (Source) but now they are in government, they are still refusing to follow through on their own policy.

Disgusting.

Most Western European governments have equivocated.

The US position is equally disgusting.

In 2011, Barack Obama claimed that the US would not support the Palestinian State because:

… genuine peace can only be realized between Israelis and Palestinians themselves … Ultimately, it is Israelis and Palestinians – not us – who must reach an agreement on the issues that divide them

Meanwhile, he and all the Presidents have signed laws that facilitate massive weapons and armaments from the US to Israel – I guess to help the realisation ‘between Israelis and Palestinians themselves’!

The role of the UN in all this is also telling.

Basically, the UN cannot do anything that the US doesn’t agree with, which has always made the body ineffective in dealing with actual problems.

But I thought this UK Guardian article (October 15, 2024) – Israel is a rogue nation. It should be removed from the United Nations – by British journalist Mehdi Hasan, was interesting.

He lists the way in which the Israeli government has violently targetted the UN over an extended period and concludes that Israel should be:

… expelled from an organization that it is relentlessly and shamelessly attacking and undermining …

The UK Guardian editorial (October 15, 2024) – The Guardian view on Israel and the UN: undermining a vital institution – runs a similar line.

It points out that the “UN is now a beleaguered institution, stuck on the sidelines of recent major conflicts” and any sense of a “rules-based international order” is fading.

It also implicates the role of the US, which it describes as “mealy-mouthed” because the US position will always ensure Israel “will be financially and militarily supported whatever it does”.

Supported to slaughter, maim and destroy Palestinian civic society.

It is a difficult period in human history.

People ask me what my solution would be.

I will leave it to another day perhaps but ending the illegal occupation and the apartheid and walls etc would be a good place to start.

But I know that expelling the thousands of violent Israeli settlers who steal Palestinian land and eject the legitimate residents is unlikely to happen now.

So that means a so-called ‘two state’ solution is probably unattainable.

I have also received a lot of E-mails asking me whether there is an Modern Monetary Theory (MMT) position on all this given some MMTers have chosen to take the Israeli position and deny that genocide is happening.

There is no MMT position in that sense and our work should not be implicated in the opinions of some (either side of the issue).

It is genocide that is happening and I abhor it.

Even if I was a mainstream economist I would abhor it.

Episode 7 of our MMT Manga will be released on Friday

Ryan’s drinking is coming to a head – he is facing the desolation of unemployment and is confused about the causes but cannot let go of the mainstream economics thinking that he gets each day from the Finance TV show with Professor Knowitawl.

Elizabeth is fed up and being sought by her long-standing admirer (flame) Chris.

Meanwhile, Kevin has a Zoom session with Hiroshi Fujii who works at the Bank of Japan and learns about banks and loans.

Go to – The Smith Family and their Adventures with Money – to see what is happening.

Don’t forget – the Modern Monetary Theory: Economics for the 21st Century – Open Access MOOC

My educational arm – MMTed – is now offering the – Modern Monetary Theory: Economics for the 21st Century – Open Access MOOC – on an on-going basis.

The 4-week course is free and self-paced.

It is packed with learning resources.

Music – Oscar Peterson and Stéphane Grappelli

This is what I have been listening to while working this morning.

I bought this album in the mid-1970s and played it a lot.

I did not make a digital version when I was last converting my old records into computer files.

But I missed it so much lately – and being away from home and the records – I had to get a digital version.

The song – Flamingo – is an old jazz standard written in 1940 by Romanian composer – Ted Grouya.

The vocal version recorded by many artists had lyrics by American lyricist Ed Anderson.

It is one of seven tracks on the 1973 album – Oscar Peterson – Stéphane Grappelli Quartet Vol. 1

It was somewhat an unlikely project with Bebop piano master – Oscar Peterson – combining with violinist – Stéphane Grappelli – who comes out of the swing tradition.

But it works very well and this is my favourite track on the album.

It includes:

1. Kenny Clarke – Drums.

2. Niels-Henning Ørsted Pedersen – Double Bass.

A perfect combination.

That is enough for today!

(c) Copyright 2024 William Mitchell. All Rights Reserved.