Treasury, Reserve Bank of Australia and Money - Dr Steven Hail (Part 2) Modern Money Australia 2019-10-01 | Part 1: youtu.be/70oxUtzdrecDr. Steven Hail, at an introductory level, describes how the Treasury and the Reserve Bank of Australia operate and interact with one another and the private sector. In the second part of this presentation Dr. Steven Hail runs through the technical aspects of how the Reserve Bank of Australia operates to maintain the interest rate target and the amount of reserves in the banking system.Dr Steven Hail is a Lecturer in Economics at the University of Adelaide, where he has lectured in financial and macroeconomics since 2002. He has more than 25 years of experience as a lecturer in tertiary and financial training institutions in Australia and the UK.During his career in the UK, Steven was involved in training staff from all the major UK banks, many international banks, the Bank of England, many listed companies and the UK Government Accountancy Service. He has recently published Economics for Sustainable Prosperity and is currently a research scholar at the Global Institute for Sustainable Prosperity. He can be found on Twitter under the handle of "@StevenHailAus"Hosted by Modern Money Australia on the 23.06.19 in Melbourne, Australia.Camera, Editing, Graphics, Titles: OnTopa Media & Jolyon GrayProduced by: OnTopa Media©2019 Modern Money Australiahttp://modernmoneyaustralia.org
An MMT Framework for Colonial & Climate Reparations: A Global Green New Deal Modern Money Australia 2021-10-06 | Join us as we explore Modern Monetary Theory (MMT) with Associate Professor Fadhel Kaboub in this webinar which will introduce the basics of MMT and identify structural deficiencies that hinder sustainable development efforts in the Global South.The presentation will make the case for a Global Green New Deal reparations framework to undo the damage done by colonial and post-colonial extractive economic policies.Fadhel Kaboub is an Associate Professor of Economics at Denison University and President of the Global Institute for Sustainable Prosperity. He formerly taught at Drew University, where he was also codirector of the Wall Street Semester Program; the University of Missouri–Kansas City (UMKC); and Bard College at Simon’s Rock.Kaboub’s research interests include macroeconomic theory and policy, economic development, international law and economics, and the methodology and history of economic thought. He has published in the Journal of Economics Issues, Review of Radical Political Economics, Review of Keynesian Economics, Middle East Development Journal, and International Labour Review, among other academic journals.
But Victor, how will you pay for it? Modern Money Australia 2021-10-06 | Modern Money Australia public forum guest speaker: 6 October 2021A conversation with The New Liberal's Victor Kline about the influence of Modern Monetary Theory on TNL's policiesSince its formation in 2019, TNL has made more of a mark on the Australian political landscape than, arguably, any new party since the formation of the Greens. Kline contends that the word "liberal" has been twisted into a misnomer by the Liberal Party of Australia, and that we need a new party that reflects the real meaning of the word.Kline says that "We are our own party, but so far as it is helpful to fit us into political history, we are a cross between the economics of Menzies (real full employment and job security with investment in local business) and the social progressiveness and egalitarianism of Whitlam".While the Menzies era is seen by many as a time of ultra conservatism, it was also a time of national prosperity, of large infrastructure projects and virtually full employment. Whitlam's era championed a host of public good policies: university studies with no cost to the user, the establishment of the Australia Council and a recognition that the arts are crucial to a healthy society, no fault divorce, equal pay for women, the Order of Australia replacing the British Honours system. And many more.Can TNL emulate the best of both of these? And, for those policies that require an investment of public funds... How will they pay for it?Their policy platform is ambitious, and many of its planks would cost rather an enormous amount of money. So, Victor, how will you pay for it?We'll explore these questions and more.
Introduction to MMT (Modern Monetary Theory) Part 1 (of 2) Modern Money Australia 2021-03-27 | For Part 2 of this video, click here: youtu.be/cUp_kX64DJwModern monetary theory, or MMT for short, is a superior framework for understanding how our monetary system functions today. It has been developed since the 1990s by Professor Bill Mitchell, alongside American academics like Professor Randall Wray, Professor Stephanie Kelton, and investment banker and fund manager Warren Mosler. MMT builds on the ideas of a previous generation of economists, such as Hyman Minsky, Wynne Godley and Abba Lerner.Thanks to Dr. Steven Hail, Prof. Bill Mitchell, Warren Mosler, Patricia Pino & Christian Reily (at The MMT Podcast) for providing the inspiration and feedback for this video. You can find some of their work on MMT in the links below:theconversation.com/explainer-what-is-modern-monetary-theory-72095http://bilbo.economicoutlook.net/blogmoslereconomics.com/wp-content/powerpoints/7DIF.pdfpileusmmt.libsyn.comFor a more in-depth exploration of MMT, check out this free online course:edx.org/course/modern-monetary-theory-economics-for-the-21st-century-course-v1newcastlexmmt101x1t2021 Artwork by Emma Winton, voice-over by Cat Canteri, produced by Mischa Herman:http://emmawinton.comcatcanteri.commischaherman.com-----
Introduction to MMT (Modern Monetary Theory) Part 2 (of 2) Modern Money Australia 2021-03-27 | For Part 1 of this video, click here: youtu.be/vX59aMG682AModern monetary theory, or MMT for short, is a superior framework for understanding how our monetary system functions today. It has been developed since the 1990s by Professor Bill Mitchell, alongside American academics like Professor Randall Wray, Professor Stephanie Kelton, and investment banker and fund manager Warren Mosler. MMT builds on the ideas of a previous generation of economists, such as Hyman Minsky, Wynne Godley and Abba Lerner.Thanks to Dr. Steven Hail, Prof. Bill Mitchell, Warren Mosler, Patricia Pino & Christian Reily (at The MMT Podcast) for providing the inspiration and feedback for this video. You can find some of their work on MMT in the links below:theconversation.com/explainer-what-is-modern-monetary-theory-72095http://bilbo.economicoutlook.net/blogmoslereconomics.com/wp-content/powerpoints/7DIF.pdfpileusmmt.libsyn.comFor a more in-depth exploration of MMT, check out this free online course:edx.org/course/modern-monetary-theory-economics-for-the-21st-century-course-v1newcastlexmmt101x1t2021 Artwork by Emma Winton, voice-over by Cat Canteri, produced by Mischa Herman:http://emmawinton.comcatcanteri.commischaherman.com-----
The battle for a progressive Europe: Next Generation or Lost Generation EU? Modern Money Australia 2021-03-21 | An informative presentation and lively discussion, with prominent Spanish MMT economist, activist and founder of RedMMT, Stuart Medina Miltimore, on the implications of MMT for the future of progressive reform for the nations of Europe and beyond. We CAN avoid another lost generation in Europe, and for that matter in Australia too.“The Coronavirus pandemic has exacted an horrific toll on the citizens of Spain. On top of the Covid-19 health crisis - over 3 million cases and more than 70,000 deaths - Spain has experienced a devastating economic crisis with GDP falling over 11% in 2020 and unemployment sky-rocketing to 16% with some cities reaching 30% and national youth unemployment at 40%.Next Generation EU, the €750 billion European Union Recovery Fund announced in July 2020 to counter these devastating effects, was heralded by Pablo Iglesias, the Second Vice President of Spain and leader of Unidas Podemos, as “a new era in the country’s political economy, one that makes a definitive break with the neoliberal period of cuts and austerity”. Iglesias celebrated the 'generous' sum, of which Spain is earmarked to receive €140 billion, as not only delivering without the harsh demands of structural reform, but also promising measures directed at supporting an expansive industrial policy and new green technologies. However, as our guest speaker, Stuart Medina Miltimore, will explicate, it would seem with closer scrutiny that the large sums and big talk about progressive reform obscure the true neoliberal agenda. Sadly, the battle for a progressive Europe against neoliberalism continues.
(English) MMA March 2021 Guest Speaker Promo: Stuart Medina Miltimore Modern Money Australia 2021-03-06 | Modern Money Australia will present another engaging Webinar in March 2021 with Guest Speaker Stuart Medina Miltimore from RedMMT (Spain).Sat 20 Mar 2021 @ 5:00pm AEDTFor full webinar event details visit:www.modernmoneyaustralia.org
(Español) MMA Marzo 2021 Presentación del conferenciante invitado: Stuart Medina Miltimore Modern Money Australia 2021-03-06 | Descripción: La asociación “Moneda Moderna Australia” presenta otra interesantísima videoconferencia en marzo de 2021 con nuestro invitado, el economista Stuart Medina Miltimore de RedMMT (España). El sábado 20 de marzo, a las 17 horas, hora estándar del este australiano.(English) Modern Money Australia will present another engaging Webinar in March 2021 with Guest Speaker Stuart Medina Miltimore from RedMMT (Spain). Sat 20 Mar 2021 @ 5:00pm AEDT For full webinar event details visit: www.modernmoneyaustralia.org
MMT & The New Social Contract- Lessons from Covid-19 with Bill Mitchell & Pavlina Tcherneva Modern Money Australia 2021-02-28 | In our first webinar of 2021, our guests Professor Pavlina Tcherneva and Professor Bill Mitchell, both leading MMT academics, have set forth a powerful and hopeful vision for a new social contract - founded on a real world understanding of the policy potential of monetary sovereign governments – that will be better able to foster the genuine ‘we’re all in this together’ effort required to tackle the immediate Covid-19 crisis and the ongoing and looming threat to our planet from the climate crisis.Online Webinar hosted by Modern Money Australia- Saturday 27 Feb 2021Time stamps:00:00:00 Anne Maxwell: Intro00:02:18 Jayne Flanagan: Opening Remarks & Bill Mitchell Intro00:13:43 Bill Mitchell: Opening Remarks00:31:59 Jayne Flanagan: Opening Question to Pavlina Tcherneva00:34:18 Pavlina Tcherneva: Opening Remarks & Reply00:48:00 Panelists & Presenters Q&A01:01:15 Attendees Q&A01:39:57 End
An MMT Framework for Colonial & Climate Reparations: A Global Green New Deal Modern Money Australia 2020-10-18 | Join us as we explore Modern Monetary Theory (MMT) with Associate Professor Fadhel Kaboub in this webinar which will introduce the basics of MMT and identify structural deficiencies that hinder sustainable development efforts in the Global South.The presentation will make the case for a Global Green New Deal reparations framework to undo the damage done by colonial and post-colonial extractive economic policies.Fadhel Kaboub is an Associate Professor of Economics at Denison University and President of the Global Institute for Sustainable Prosperity. He formerly taught at Drew University, where he was also codirector of the Wall Street Semester Program; the University of Missouri–Kansas City (UMKC); and Bard College at Simon’s Rock.Kaboub’s research interests include macroeconomic theory and policy, economic development, international law and economics, and the methodology and history of economic thought. He has published in the Journal of Economics Issues, Review of Radical Political Economics, Review of Keynesian Economics, Middle East Development Journal, and International Labour Review, among other academic journals.
What is Modern Monetary Theory? Modern Money Australia 2020-09-20 | This workshop covered the fundamentals of MMT in a half hour synopsis by Emeritus Professor Martin Watts, followed by an hour-long Q&A session. Martin Watts is an Emeritus Professor of Economics at the University of Newcastle and is a research associate at the Centre of Full Employment and Equity (CofFEE). He previously spent 16 years as a Lecturer/Senior Lecturer in the Department of Economics at Monash University and has published 16 book chapters and over 60 refereed journal articles, of which 30 are in international refereed journals. He is co-author of the "Macroeconomics" textbook with Emeritus Professor William Mitchell and Professor Randall Wray.
Solving unemployment in a Covid-19 world Modern Money Australia 2020-08-29 | The Covid-19 crisis has created an unparalleled economic disaster in the Australian community, resulting in a catastrophic loss of employment across the nation. Given soaring unemployment rates, the sweeping prevalence of underemployment and the increasingly precarious nature of employment in Australia the question must be asked… Is there a better way forward?We will explore what trends were evident in the labour market prior to Covid-19 and what consequences they have had on employment during the pandemic.Are there lessons from history that can be drawn upon to inform policy designed to tackle these challenges and what could a post Covid-19 Australia look like? Can the unemployed reasonably be expected to seek work that doesn’t exist, with 13 jobseekers for every advertised position? What role does the Federal government have to play in this situation? “Is income support alone sufficient, or should the government take responsibility for ensuring every Australian has the opportunity to have a meaningful job with fair pay?Join Dr. Victor Quirk from the Centre of Full Employment and Equity (CofFEE), along with the Australian Unemployed Workers Union (AUWU) and Modern Money Australia (MMA) as the current dynamics of employment in our society are explored from the perspective of Dr. Quirk's research and the insights of the AUWU, and how the answer to these questions can be informed by the application of the MMT analytical framework.©2020 Modern Money Australia & the Australian Unemployed Workers Unionhttp://modernmoneyaustralia.orgunemployedworkersunion.com
Exchange Rate Theory: Is it as Horrifically Boring as it Sounds? Modern Money Australia 2020-08-16 | Join Professor John Harvey, a leading Post-Keynesian economist, as he explores the world of exchange rates and how the largest (and most volatile) market on the planet is understood by orthodox economics.
Understanding Modern Money with Warren Mosler and Con Michalakis. Modern Money Australia 2020-08-04 | A public conversation between Warren Mosler and Con Michalakis about 'macroeconomics done right', the lens of Modern Monetary Theory, and how this new understanding of the monetary operations of modern economies developed. They bring to the discussion of macroeconomics their understanding of governmental fiscal and monetary policy and the broader implications of existing policy upon the economies of the world over the last 40 years/Both Warren and Con have significant experience in the world of finance, Warren having founded a successful hedge fund and Con as the Chief Investment Officer of South Australia's largest super fund, to highlight a fraction of their respective career.(There were some connection issues during the talk, hence why Warren's visual component disappears later in the discussion).
Macroeconomic policy in the pandemic era and beyond - Dr. Martin Watts Modern Money Australia 2020-07-12 | In this webinar Dr. Martin Watts discusses the consequences of Covid-19 upon the Australian economy, the policy response of government to the crisis and how the MMT lens can be applied to inform a policy response to the economic crisis brought about by the pandemic.Dr Martin Watts is an Emeritus Professor of Economics at the University of Newcastle and is a research associate at the Centre of Full Employment and Equity (CofFEE). He previously spent 16 years as a Lecturer/Senior Lecturer in the Department of Economics at Monash University and has published 16 book chapters and over 60 refereed journal articles, of which 30 are in international refereed journals.Further details of his career can be found on the University of Newcastle website: "https://www.newcastle.edu.au/profile/..."More detail about the work of CofFEE can be found on their website: '"http://www.fullemployment.net"©2020 Modern Money Australia
Explaining the Crucial Policy Role of National Governments- Dr James Juniper Modern Money Australia 2020-06-27 | Guest speaker for Modern Money Australia monthly public forum in Sydney Australia, February 22, 2020:Presentation: "Explaining the Crucial Policy Role of National Governments"- Dr James Juniper (Duration: 1hr/5min)Dr Juniper, an Associate of the Centre of Full Employment and Equity and conjoint lecturer of the University of Newcastle discussing the real world effects of our successive governments' obsession with achieving budget surpluses. From the GFC, to the current climate emergency, showing the impact of the 'deficits are bad/surpluses are good' narrative, which underpins the prevailing, neoliberal, mainstream economic thinking.Time stamps:0:00:00 Presentation (1hr/5min)1:05:25 Question & Answer (32min)©Modern Money Australia Inc 2020
Degrowth and Full Employment — an MMT Perspective Modern Money Australia 2020-06-21 | In this advanced discussion using the MMT lens, Dr. James Juniper focuses on resolving what appears to be a dichotomy between notions of Steady-State or Degrowth, on one hand, and the pursuit of full employment by advocates of MMT, on the other hand.Dr. James Juniper has worked for the Bureau of Industry Economics, S.A. Department of State Development and Technology, S.A. Department of Industry, Trade and Technology and United Trades and Labor Council (S.A.) and is a Conjoint Lecturer at the University of Newcastle Business School.
Full employment, the Right to Work and the Job Guarantee - Dr. Victor Quirk Modern Money Australia 2020-06-12 | Dr. Victor Quirk discusses the history of full employment and the 'Right to Work' (as outlined in Article 23.1 of the UN 'Universal Declaration of Human Rights') both in Australia and across the world.What follows is a discussion on how the 'Job Guarantee' (JG), as outlined in the Modern Monetary Theory (MMT) framework, can satisfy that human right, what the implementation challenges of the JG are and how might they be addressed in the Australian context.Dr. Victor Quirk is a labour market political sociologist, university lecturer and research fellow at the 'Centre of Full Employment and Equity' (CofFEE) with a background in community sector management and specialist employment counseling. Dr Quirk's 'The Job Guarantee of 1848' paper can be found here: "http://www.fullemployment.net/publications/wp/2007/07-14.pdf"Dr. Quirk's research profile can be found here: "researchgate.net/profile/Victor_Quirk"More detail about the work of CofFEE can be found on their website: '"http://www.fullemployment.net"©2020 Modern Money Australiahttp://modernmoneyaustralia.org
Challenging The Dominance of Monetary Policy: An MMT Perspective - Emeritus Professor Martin Watts Modern Money Australia 2020-05-03 | Modern Money Australia monthly forum guest speaker: Emeritus Professor Martin Watts. "Challenging The Dominance of Monetary Policy: An MMT Perspective"(Saturday 21 September 2019 Surry Hills Neighbourhood Centre)Martin Watts is an Emeritus Professor of Economics at the University of Newcastle and is a research associate at the Centre of Full Employment and Equity (CofFEE). He previously spent 16 years as a Lecturer/Senior Lecturer at Monash University and has published 16 book chapters and over 60 refereed journal articles, of which 30 are in international refereed journals.Further details of his career can be found on the University of Newcastle website: "https://www.newcastle.edu.au/profile/..."More detail about the work of CofFEE can be found on their website: '"http://www.fullemployment.net"(@ 0:06mins Introduction)(@1:37:35mins Questions & Answers)Camera,Editing,Graphics,Titles: Jolyon GrayProduced by: Dallas Lewis & Jayne Flanagan©2019 Modern Money Australia
Quantitative Easing with Dr. Steven Hail Modern Money Australia 2020-04-18 | Dr. Steven Hail discusses Quantitative Easing (QE) through the MMT lens in the Australian context in this webinar.What is it meant to accomplish from an orthodox perspective? How does it actually work? Does the evidence from across the globe demonstrate that it has successfully solved the problem it was meant to fix, or are there fundamental flaws in the orthodox economic principles behind Quantitative Easing? How does MMT explain the outcomes of QE and what might the alternative be from a MMT perspective?Dr. Steven Hail is a lecturer in economics at the University of Adelaide and has been involved in the provision of financial training to staff from all the major UK banks, many international banks and the Bank of England. He can be found on Twitter under the handle of "@StevenHailAus"©2020 Modern Money Australiahttp://modernmoneyaustralia.org
Sectoral Balances and Stock-Flow Consistent Modelling Modern Money Australia 2020-01-14 | Dr. James Juniper explains the principles of sectoral balances and stock-flow consistent modelling at his presentation in Melbourne in September 2019.Sectoral balances and stock-flow consistent modelling are rigorous accounting frameworks for macroeconomic analysis, which guarantee a comprehensive integration of all the flows and the stocks of an economy, improving the transparency and logical coherence of macroeconomic models.Dr. Juniper demonstrates how these frameworks can be applied to analyze real-world economic events such as the GFC or the provincial debt and asset-price inflation in China.Dr James Juniper is a conjoint lecturer of the University of Newcastle and current supervisor of 6 PhD students.
Debt, Interest Rates and Inflation - Emeritus Professor Martin Watts Modern Money Australia 2019-12-01 | Emeritus Professor Martin Watts demystifies the rhetoric surrounding fiscal deficits and debt; the need to return to surplus and the possibility of countries such as Australia, Japan, the US and UK being plagued by high interest rates and the prospect of insolvency. In addition, he examines whether claims of high inflation and even hyperinflation, along with high interest rates are valid, if countries ignore the doomsayers and promote higher economic activity and employment by commencing say major public sector infrastructure projects.Professor Watts will illustrate his arguments by analyzing through the MMT lens the contrasting macroeconomic outcomes of Japan and Greece since 2008 with a particular focus on how public debt, interest rates and inflation have played out in these two countries that have adopted different monetary systems.Dr Martin Watts is an Emeritus Professor of Economics at the University of Newcastle and is a research associate at the Centre of Full Employment and Equity (CofFEE). He previously spent 16 years as a Lecturer/Senior Lecturer in the Department of Economics at Monash University and has published 16 book chapters and over 60 refereed journal articles, of which 30 are in international refereed journals.Further details of his career can be found on the University of Newcastle website: "https://www.newcastle.edu.au/profile/martin-watts"More detail about the work of CofFEE can be found on their website: '"http://www.fullemployment.net"Hosted by Modern Money Australia on the 24.08.20 in Melbourne, Australia.Camera, Editing, Graphics, Titles: OnTopa Media & Jolyon GrayProduced by: OnTopa Media©2019 Modern Money Australiahttp://modernmoneyaustralia.org
Unemployment, Inflation and Buffer Stocks - Emeritus Professor William Mitchell Modern Money Australia 2019-12-01 | Emeritus Professor William Mitchell explains the economic concept of "buffer stocks" and how they relates to both unemployment and price stability. He discusses the currently accepted doctrine of NAIRU and how it is inferior to NAIBER (otherwise known as the "Job Guarantee") for maintaining full employment and price stability.Professor Bill Mitchell holds the Chair in Economics and is the Director of the Centre of Full Employment and Equity (CofFEE), an official research centre at the University of Newcastle. He is also on the board of CofFEE-Europe, which is a sister centre established at the University of Maastricht, The Netherlands. He has written extensively in the fields of macroeconomics, econometrics and public policy. Further details of his career can be found on the University of Newcastle website: "https://www.newcastle.edu.au/profile/bill-mitchell"More detail about the work of CofFEE can be found on their website: '"http://www.fullemployment.net"Hosted by Modern Money Australia on the 27.07.19 in Melbourne, Australia.Camera, Editing, Graphics, Titles: OnTopa Media & Jolyon GrayProduced by: OnTopa Media©2019 Modern Money Australiahttp://modernmoneyaustralia.org
Treasury, Reserve Bank of Australia and Money - Dr Steven Hail (Part 1) Modern Money Australia 2019-10-01 | Part 2: youtu.be/scIlDd6lTOIDr. Steven Hail, at an introductory level, describes how the Treasury and the Reserve Bank of Australia operate and interact with one another and the private sector. The first part of this presentation describes the basics of how the present day monetary system of Australia operates.Dr Steven Hail is a Lecturer in Economics at the University of Adelaide, where he has lectured in financial and macroeconomics since 2002. He has more than 25 years of experience as a lecturer in tertiary and financial training institutions in Australia and the UK.During his career in the UK, Steven was involved in training staff from all the major UK banks, many international banks, the Bank of England, many listed companies and the UK Government Accountancy Service. He has recently published Economics for Sustainable Prosperity and is currently a research scholar at the Global Institute for Sustainable Prosperity. He can be found on Twitter under the handle of "@StevenHailAus"Hosted by Modern Money Australia on the 23.06.19 in Melbourne, Australia.Camera, Editing, Graphics, Titles: OnTopa Media & Jolyon GrayProduced by: OnTopa Media©2019 Modern Money Australiahttp://modernmoneyaustralia.org
Busting Modern Money Myths Modern Money Australia 2019-09-06 | Bill Mitchell and Rohan Grey presenting on the topic of Modern Monetary Theory in Sydney Australia 24.08.19Hosted by Modern Money Australia with thanks to The Modern Money Network.(@ 0:22mins)Introduction: Dallas LewisDallas Lewis gives an overview of the Modern Money Australia network and introduces each guest speaker.(@ 7:25mins)Guest Speaker: Bill Mitchell Emeritus Professor Bill Mitchell from The University of Newcastle, one of the founders of Modern Monetary Theory, gives an introductory outline to the key insights of this burgeoning school of thought.(@ 46:20mins)Guest Speaker: Rohan GreyRohan Grey, Doctoral Fellow, Cornell Law School and founder and president of the Modern Money Network, links the key insights of MMT to his recent research on digital currencies and the law. (@1:12:15mins)Q&A Session: Jayne FlanaganAudience questions presented following the main presentations. Camera,Editing,Graphics,Titles: Miguel F Valenzuela & Jolyon GrayProduced by: Dallas Lewis & Jayne Flanagan©2019 Modern Money Australia
