Episodi
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We return to our conversation with labour market political sociologist, Dr. Victor Quirk.This is a conversation about the "Political Aspects of Full Employment" as inspired by a paper written by economist Michael Kalecki, published back in 1943.You can find the first part of this two-part conversation in our previous episode #77.In the first part of our conversation we talked about how mass unemployment is not an unfortunate happenstance, or the fault of the individual unemployed worker. Mass unemployment is a battle-ground in class warfare.In this episode, we go back in history, to the turn of the previous century, and we look at how the battle over full employment played out when Australia was under the thumb of the British empire, and how London bankers created unemployment in Australia.We then turn to the fair and humane solution to unemployment, a solution which continues to be studiously ignored by both government and business. Shownotes Full employment, the 'Right to Work' and the Job Guarantee (lecture)Modern Money Australia featuring Dr. Victor Quirk15 February, 2020 The Job Guarantee of 1848 (paper) by Dr Quirk Political Aspects of Full Employment (article) by Michael KaleckiPolitical Quarterly, 1943"obstinate ignorance is usually a manifestation of underlying political motives" Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck. Brother Can You Spare A Dime? written by Jay Gorney & E. Y. Harburgsung by Rudy Vallee, 1932
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Poverty, vilification, and social isolation. Unemployment causes untold damage to individuals, families and communities. You might think we would want to minimise these harms by minimising unemployment.Since at least the 1940s we have known how to run an economy on genuine full employment (less than 2% unemployment). So why don't we?We speak with Dr. Victor Quirk, about how this battle over full employment has played out in Australia, and involved all manner of shenanigans. Shownotes Political Aspects of Full Employment by Michael KaleckiPolitical Quarterly, 1943"obstinate ignorance is usually a manifestation of underlying political motives" Full employment, the 'Right to Work' and the Job Guarantee (lecture)Modern Money Australia featuring Dr. Victor Quirk15 February, 2020 The Job Guarantee of 1848 (paper) by Dr Quirk Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck. Brother Can You Spare A Dime? written by Jay Gorney & E. Y. Harburgsung by Rudy Vallee, 1932 Upcoming Events PMPG Online Lecture Series“An economy that puts people & planet first: what it looks like and how to get there”6:00-7:00pm, Tuesday 30 June, 2026register for free 3CR Community Day Celebrating 50 Years on the Air4pm, Saturday, 4th July 2026Collingwood Town Hall. RSVP at humanitix.
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Episodi mancanti?
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Why is it when ordinary workers are awarded a small pay increase in line with cost of living increases that business cries, "Inflation!", while at the same time demanding that their perks and ever increasing profit margins, essentially pay increases, are good for the economy?As radio station 3CR turns 50 years old, Anne & Kev discuss the recent minimum wage increase, the dubious aspects of mainstream media, and more -- demonstrating the good reasons to get on board by supporting a radio station so unique, so socially connected, that it would actually encourage a show like RadioMMT to exist. Donate to 3CR and choose RadioMMT as your show!Online: https://www.3cr.org.au/donateBy phone:Call 03 9419 8377 during business hours (Monday - Friday 10:00 am - 6:00 pm) to pay by credit card.By direct deposit:Account Name: Community Radio Federations Donations AccountBSB: 313 140Account Number: 1205 9465 NOTE: If you pay by Direct Deposit you need to notify 3CR of your payment via email so 3CR can send you a tax-deductible receipt and allocate your donation correctly. Show NotesWhy is News Corp attacking tax reform? Because it’s actually a real estate company (article)Christopher Warren, Crikey, May 20, 2026 Murdoch’s News Corp has moved into the mortgage business. Where are the regulators? (article)Roberta Esbitt, The New Daily, Jun 30, 2025 Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional AudioToo Many Things, by Ed Kuepper, from the album Starstruck. Strong Feelings by Dry Cleaning Ammo by Mod Con
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We review the Australian Federal Government's 2026 annual budget, and focussed on:The Good: the reversal of neoliberal tax policies that have been driving up property prices since 1999.The Bad: the austerity shown by the government buckling under pressure from the RBA.The Ugly: the way disabled people have been scapegoated to meet imaginary budget balances. ShownotesPublic Money. Public Good.publicmoneypublicgood.net Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck. Real Estate Mastermind by Phil & the Tiles
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Bonds! So very confusing and so misleading. An instrument deliberately used by orthodox, conservative economists to lead us down a very unnecessary garden path. We pull back the misinformation to explain why they probably do more harm than good. Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional AudioToo Many Things, by Ed Kuepper, from the album Starstruck. The Poor by Jesse Welles
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If we understand the federal government does not tax us in order to get its spending money, then why does it tax us at all? Anne and Kev tackle this question with the help of presentations given by Professors John Quiggin and Bill Mitchell at a Queensland Fabians event. Shownotes Public Money. Public Good. PM Exceeded Cabinet Decision by Paul Malone(The Canberra Times, 4 December 1984) Tax Innovation - Australian Fabians Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck. Humanity (Love the Way It Should Be)by John Legend & The Roots
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Standing in line for hours to get your government-issued potato? Or enjoying a fantastic work-life balance on a 3-day work week? Student of ecological economics, Harry Rosson, joins Anne for a conversation about de-growth. But first we had to strike down some of those hoary old debt-monsters. ShownotesPublic Money. Public Good.publicmoneypublicgood.net How popular is ecosocialist transformation? (article)by Jason HickelTimothée Parrique (ecological economist) Providing decent living with minimum energy: A global scenario (article)Joel Millward-Hopkinsa, Julia K. Steinbergera, Narasimha D. Raoc, Yannick Oswalda"The current work offers a response to the clichéd populist objection that environmentalists are proposing that we return to living in caves. With tongue firmly in cheek, the response roughly goes ‘Yes, perhaps, but these caves have highly-efficient facilities for cooking, storing food and washing clothes; low-energy lighting throughout; 50 L of clean water supplied per day per person, with 15 L heated to a comfortable bathing temperature; they maintain an air temperature of around 20 °C throughout the year, irrespective of geography; have a computer with access to global ICT networks; are linked to extensive transport networks providing 5000–15,000 km of mobility per person each year via various modes; and are also served by substantially larger caves where universal healthcare is available and others that provide education for everyone between 5 and 19 years old.’ And at the same time, it is possible that the amount of people’s lives that must be spent working would be substantially reduced." Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck. Dominic Frisby: It's All True - A Song About Conspiracy TheoriesMore, More, More by Bananarama Australia’s Debt Hits $1Trillion — Could This Trigger the Next Financial Crisis? (Prepare Now), Feb 18, 2026Scott Kuru Channel 7: National debt set to surpass $1 trillion‘Spent more than we earned’: Australia’s debt to hit $1 trillionSky News Australia, host Danica De Giorgiowith Eminence Advisory's Dimitri Burshtein Sep 3, 2025 Funny Retro Gaming Music Beatby Alexander BluThe song is permitted for non-commercial use under license “Attribution-NonCommercial 4.0 International (CC BY-NC 4.0)”Dutton, Marles discuss national debt, wage stagnation | 2022 Federal Election | 9 News Australia
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Kevin & Katy re-examine banking and credit. What happens when we remove banking from our economic system? Can our economy survive without bank credit? They discuss the lunacy that is monetary policy. The government's bank, the Reserve Bank of Australia (RBA) has decided to steal from the poor and give to the rich, in order to curb inflation by increasing interest rates. This of course, leads into a brief discussion on inflation and why the world as we know it is about to end. Shownotes Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck. Germfree Adolescents by X Ray Specs
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We have an economy that uses a monetary system to co-ordinate how we make and acquire stuff. And if you have a monetary system, you need banks. Kev and Kent talk about this role banks have, and how their potential to create an economy that works for everyone is so distorted by the profit motive that it sabotages our collective wellbeing. Shownotes Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional AudioToo Many Things, by Ed Kuepper, from the album Starstruck. America is Waiting by Brian Eno & David Byrne
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We wrap up Kevin's interview with Prof Bill Mitchell, who surmises that capitalism's profit driven agenda is incapable of solving the problems it has created. Capitalism, and its "market-based solutions", cannot provide the urgently needed climate change repair and sustainability.In discussion with Kev, Anne realises that MMT is turning her into a socialist. Anne then hooks into the Australian Office of Financial Management (AOFM) over its cognitive dissonance. Show Notes Public Money. Public Good. Workshop. Syd '26 Degrowth, Deep adaptation and MMT (blog)More from Bill Mitchell about degrowth. This is a real problem: Australia’s $1trn debt office in chaosJohn Kehoe (Economics editor)Financial Review, Feb 11, 2026 Review of the Australian Office of Financial Management Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Rich by Yard Act Too Many Things, by Ed Kuepper, from the album Starstruck.
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We continue our conversation with Professor Bill Mitchell, and explore where money comes from, and the fiscal capacity (ability to spend) of a currency issuing government.Unusual circumstances often require ideology be laid aside to reveal the real functioning of an economy. To this end we discuss the origins of the Global Financial Crisis (GFC) in the USA, and when this crisis reached Australia, the response of the Australian government under Prime Minister, Kevin Rudd and his Treasurer, Wayne Swan.From here we start a journey into the needed response to the polycrisis faced by all nations.Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck. Jubilee Street by Nick Cave & the Bad Seeds
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Despite the hysteria of mainstream economists, Japan's economy seems to be doing okay. So why does Professor Bill Mitchell (co-founder of Modern Monetary Theory) want to shock the Japanese economy? Bill talks about his ongoing work at Kyoto University, where he is involved with a team of academics who advise the current Japanese Prime Minister, Sanae Takaichi. We discuss the currency-issuing capacity of government, the nature of deficits, and the unusual occurrences of surpluses. Show Notes Video – Japan at a Crossroads: Fiscal Policy, China, and the GrowthMore about Bill Mitchell's work in Japan, from his blog. Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck. Funky Kingston by Toots & the Maytals
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We all use money. We have some sort of understanding of how to use it and how to lose it. It defines so much of what we can and can't do. But what is it and where does it come from? It turns out that we actually don't have a very good understanding of what money is.Katy and Kev start the conversation and try to figure what money is, and how it's been captured by corporate interests. Show NotesKaty Swain is a student of Modern Money Lab's graduate course in the economics of sustainability. Katy blogs here. Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper , from the album Starstruck. Holiday by Confidence Man
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MMT is simply an analysis of how our economy actually operates. So how come some people, including so-called economic experts and authorities, don't get it? Katy and Kevin explore the conflict that economic orthodoxy faces when presented with the facts. Show Notes Katy Swain is a student of Modern Money Lab's graduate course in the economics of sustainability. Katy blogs here. Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional AudioToo Many Things, by Ed Kuepper, from the album Starstruck.Presumptious by King Gizzard & the Lizard WizardHot Air by Adalita
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The grandaddy of all economic lies is known as the "barter myth". It sounds so innocuous. Yet it continues to do great damage. At the core of mainstream academic economics, are economic models, known as "general equilibrium" models. At the very core of "general equilibrium" models lies the "barter myth". This misleading myth prevents us from understanding the system we all participate in every day - the monetary system. This misleading myth has policy advisors whispering in the ears of our politicians, that "everyone gets the amount of money they deserve". Meanwhile the "barter myth" is generally accepted as folk wisdom by the rest of us. It is one of those dangerous economic ideas that just wont die. Anne & Kev speak with economist, Associate Adjunct Professor Steven Hail, and fellow economics student Danny Roberts, about the dangers of believing this myth, and about the true story of the origins of money. Show NotesDebt: The First 5,000 Years, by David Graeber (book) Making Money: Coin, Currency, and the Coming of Capitalism, by Christine Desan (book) ‘Inflation, huh?’ Your ultimate dinner party survival guide to the economy, by Jessica Irvine (article, July 29, 2022) How to write a Flintstones history of money, by Brett Scott (article) My response to a myth of barter video, article by Jeff Epstein (host, Activist #MMT) Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck Additional AudioToo Many Things, by Ed Kuepper, from the album Starstruck The Flintstones: Theme from the Classic Hanna-Barbera Cartoon Series (Instrumental) (Single)℗ 2012 BSX RecordsReleased on: 2012-07-05Composer: Hoyt Curtin
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Retired civil engineer, Ray Maxwell, was hearing some pretty strange things coming out of MMT. So he took a good look into Modern Monetary Theory. Ray emerged with a one-page answer to "what is MMT", along with some fightin' words:austerity is murder (what's more, murder committed by our government)a job guarantee is essential to a civilised societyapplying the insights of MMT to address global warming is the only future we haveHow does Ray justify these massive claims? Trigger warning, some discussion of suicide. Please use discretion when listening. Show NotesMacro N Cheese (podcast hosted by Steve Grumbine) The Deficit Myth (book)by Stefanie Kelton Corporate Welfare Abounds (blogpost)by Professor Bill Mitchell (economist) MMT predicts well – Groupthink in action (blogpost)by Professor Bill Mitchell (economist) Warren Mosler: The Financial Sector - A Cost-Benefit AnalysisMMT Podcast with Patricia Pino & Christian Reilly Theme MusicPleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional AudioToo Many Things, by Ed Kuepper, from the album Starstruck.
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You can use MMT to get out from under austerity. You can spend money to create resources. You can reclaim your monetary sovereignty. A truly inspiring conversation with a pro-independence Scots-speaking Scot.Empower yourself via Jim's online course: MMT101 - Modern Monetary Theory (MMT) – What, Why & How. Show Notes MMT101.ORG – Modern Monetary Theory Podcast MMT101 – Modern Monetary Theory (MMT) – What, Why & How (online course) MMT101.ORG - Learn Modern Monetary Theory (MMT) – (substack) Cowboy Economist, John Harvey (youtube channel) The Invisible Doctrine: The Secret History of Neoliberalism (book)by Peter Hutchison & George Monbiot Soft Currency Economics (book) by Warren Mosler Fadel Kaboub (economist) Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck. William Thomson, founder of Scotonomics, compares England and Scotland (minute 1:14:25) Satisfied Mind by Jim Byrne Fancy Wooden Box by Jim Byrne
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Australia’s current climate target is net zero by 2050. The science shows that net zero, by 2035 has the strongest chance of preventing massive disruption to the global climate system.Can we make such a radical change to our economy?Can we do it rapidly, without hurting people?James Rosier speaks with Marcus Champ about what tools the federal government once used, and still has, to meet an existential crisis. Show notes Economics of Sustainability (course)via Modern Money Lab and Torrens University Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck. Hot Time In The Town Of Berlin WWII 1943Bing Crosby & Andrews Sisters Hot Time In The Town Of Berlin WWII 1943 (piano player rendition) Buy Bonds WWII Theatrical Trailer 1940s WWII War Bonds Advertisement Orson Welles: 1942 Radio Ad for WW2 War Bonds
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The 1970s was a fork in the road. At the New Economic Vision forum, held at Victorian Trades Hall Council, policy analyst Emma Dawson, and economist Bill Mitchell, each give their overview of the road we took, and whether we can do better than how the national economy currently serves us. What did Bill accept? And what is Emma's theory of change? Show Notes "Presumably, there is an irreducible residual level of unemployment composed of people who don’t want to work, who are moving between jobs, or who are unqualified. If there is in fact some such residual level of unemployment, it is not one we have encountered in the United States. Never in the post war period has the government been unsuccessful when it has made a sustained effort to reduce unemployment."Michael Piore (ed.) Unemployment and Inflation, Institutionalist and Structuralist Views, M.E. Sharpe, Inc., White Plains, page 10 (book, 1979)"Targets for Monetary Policy in the Coming Year" (1975, paper)by Franco Modigliani and Lucas Papademos Theme Music Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Property developer [Tim Gurner] says unemployment should rise (SBS News) The Tide Is High - Blondie (Instrumental with BV) Too Many Things, by Ed Kuepper, from the album Starstruck.
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Union leaders, community activists, policy writers and academics got together to discuss ideas that would form part of a Just Transition away from endless growth driven by fossil fuels. No, this was not the Labor government's economic roundtable. This was a grassroots forum, leading the way by moving beyond talk about taxing rich people so we can take the necessary urgent action. We can't de-grow without re-distribution. And two ways to do that are a shorter working week, and a Job Guarantee. Show Notes Productivity growth is not the only source of increases in material well-being for the majority (blog post)by William Mitchell (economist), August 18, 2025 Pleading Ignorance, by Ed Kuepper, from the album Starstruck. Additional Audio Too Many Things, by Ed Kuepper, from the album Starstruck. The political calculations behind Albanese’s economic roundtable, 7am (podcast)Aug 8, 2025, hosted by Daniel James with journalist Karen Middleton Labor go looking for an economic legacy, Full Story (podcast)19 August, 2025, Presented by Reged Ahmad with Tom McIlroy Tax the wealthiest to make Australia more productive, Follow the Money (podcast)August 20, 2025, featuring Matt Grudnoff and Ebony Bennett Is tax reform on the agenda after the productivity roundtable? ABC InsidersAugust 24, 2025, hosted by David Speers
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