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Steven Hail

StevenHailAus

Sauk Eslake, on the radio this morning, for the most part provided a good commentary on the upcoming budget. Spoiled by two things, each of which are reflex actions of

An orthodox colleague sent me a math econ model this week. Simulating macro policy. In a model with no money. Barter essentially. That's basically what orthodox macro models are. My

It would have been technically impossible for the Government to 'borrow'* the dollars to match the deficit spending it had budgeted for this year and next in advance (unless the

If you are a currency issuer, levying taxes in that currency, with a floating exchange rate and no significant foreign currency debt, then you are in a privileged position, which

In a sense, governments use monetary finance every day.Every dollar or pound spent is a new dollar or pound.It is just that they no longer withdraw the reserves created by

'We are heading for a trillion dollar debt. It is a bill that will saddle a generation.' (Anthony Albanese, Leader of the Opposition, Just Now, in Parliament).This will not age

T.V.’s Myth of the Day – Premier League footballers funding the UK’s National Health ServiceWelcome to Myth of the Day!“We have a wonderful myth for you today, with Ian and

If you are a journalist and you don't want to find out more about Modern Monetary Theory now, then where is your intellectual curiosity and why are you a journalist