We won't be doing a YouTube live today from Dunedin, mainly because one of the presentations (not by me) will involve material we can't put on the net, but we will be recording similar talks in the near future and posting them.
Apologies - We won't be doing a YouTube live today from Dunedin, mainly because one of the presentations (not by me) will involve material we can't put on the net, but we will be recording similar talks in the near future and posting them.
A new substack by the brilliant health economist, Professor Martin Hensher.
frontierfuturesau.substack.com?r=ppvvj&utm_...
Looking forward to tomorrow's Anti-Austerity Economics workshop at the Media Design School in Auckland! It's not too late to book. It will be fascinating, you'll meet some great people and we have a wonderful venue thanks to Torrens University.
events.humanitix.com/anti-austeri...
But then central bankers do love fighting the last 'war', don't they? And policymakers rarely prepare for the next one.
Central bankers everywhere - don't be so stupid as to raise interest rates and add to inequality and (for some) relative poverty.
The interest rate tool is not the right tool for this job, and it isn't even the case that there is a large fiscal support package this time either.
In the short run, do what you need to do to limit the impact of the primary sector shock on the domestic economy. In the medium term, invest in areas which make you less vulnerable to global primary sector shocks of this kind.
ANZ Bank is a special interest group, or part of one, which always welcomes higher interest rates. This instinctive reaction to primary sector shocks, assuming it is what the RBNZ does, would be knee-jerk and idiotic.
events.humanitix.com/anti-austeri...
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As you can see, part two is the management of inflation.
Central bankers generally try to fight the last 'war': policymakers rarely prepare for the next one.
New Zealanders - you will be most welcome to come along and chat about this and other issues next weekend in Auckland or Dunedin (or hopefully online) - even if (especially if) you work for ANZ or the RBNZ.
This is free if you want to come and assuming we can make it work, via YouTube.
We will make the link available 10 minutes before and post social media reminders half an hour before. There is no need to book.
It is due to run from SUNDAY 2pm-6pm Dunedin time (NZST); 12noon start Sydney/Melbourne/Brisbane (AEST); 11.30am start Adelaide time (ACST) and SATURDAY 10pm start New York (EDT); 7pm start LOS ANGELES (PDT).
People often ask us about making events available online.
We should be able to make our Anti-Austerity Economics seminar in Dunedin on Sunday available online live, in case anyone is interested.
The way I have constructed my statistic, New Zealand is looking slightly better than Australia these days, although this is at risk under the current regime of public austerity over there.
Australia's Economic Progress
open.substack.com/pub/stevenha...
If you are in or near Dunedin next Sunday, come along for a chat about this, and about the appropriate role for the Government Budget.
We would love to see you: events.humanitix.com/anti-austeri...
Bernard Hickey passed on the news this week that the new RBNZ Governor is an interest rate hawk. Is she and are other policymakers getting the drivers of and appropriate responses to inflation wrong?
You just need to ensure you have the real resources to hand, or can free them up.
If you are in or near Auckland, enthusiast or sceptic, do come along and chat about what this implies, next Saturday afternoon.
As with so many other things, it is the other way around to what is generally believed. Governments have handcuffed themselves, and it is not as difficult as people imagine to loosen those handcuffs.
events.humanitix.com/anti-austeri...
Certainly in high-income monetary sovereign economies (I know some brilliant economists don't like this term - no need to tell me), finance bros only focus on the fiscal balance the way they do because politicians have done so for many years.
On the evening of June 22nd, Steven will debate with the Director of Public Affairs at the Adam Smith Institute, on the motion that ‘THB MMT offers a better policy framework than Austrian School Economics’ at Durham University Union in the UK. It should be interesting, at the very least.
events.humanitix.com/anti-austeri...
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youtu.be/47OohmlJIEU?...
April 18th Auckland
April 19th Dunedin
June 20th Brighton
June 22nd Durham (Private debate event at the Durham University Union), I am listing this in case anyone from the North of England would like to meet up.
June 27th Stockholm
June 28th Brussels
The events will be kept reasonably small so we can interact deeply in just a single afternoon.
Tickets are available below. I would love to meet you.
Then in June, we will do much the same thing (in different contexts) in England, Sweden and Belgium. Stephanie won't be at these events, but MML CEO Gabrielle Bond and Chair Susan Borden will be there with me.
In January, I was able to chat with Stephanie Kelton about MMT as a policy frame. If you are in New Zealand and can come to Auckland or Dunedin next week, I'd love to spend an afternoon chatting with you on the same theme, applied to the pursuit of a sustainable and equitable economy over there.
Modern Money Lab Tour to New Zealand (April) and Europe (June).
#MMT #NewZealand #England #UK #Sweden #Belgium #Euro
It was wonderful to finally have our friend and colleague Patricia Pino talk to our students and other friends of Modern Money Lab MML - Economics for Sustainable Prosperity about her proposal for a job guarantee in the UK.
youtu.be/mjDgJMMBQnA?...
As research by Matt Crocker has shown, it is similar in Australia, and Morgan Edwards tells us the same could be set for New Zealand.
Taxes do not pre-fund spending: government spending provides the currency needed to pay taxes.
This is not a trivial insight.
open.substack.com/pub/mmtmicha...
Join us in Auckland on Saturday 18th April (next week), because once this particular crisis has past, we will need to raise our sights on the horizon, end austerity, and construct a just and sustainable future, and we need the tools to do that.
events.humanitix.com/anti-austeri...