William Mitchell

Monday's blog post (11/08) is now posted (16:31 EAST) - What does it mean for a nation to become bankrupt? - billmitchell.org/blog/?p=62707 #mmt

Our latest estimates of government investment required to introduce a Job Guarantee in Australia - Federal net outlays $A24.8 billion for 386.8 thousand jobs. Compare that to pandemic direct stimulus of $A311 billion over 2020-22.

Access our report - www.fullemployment.net/publications...

Thursday's blog post (07/08) is now posted (17:28 EAST) - The British government's obsession with the fiscal rules is driving the economy towards recession - billmitchell.org/blog/?p=62704

Monday's blog post (04/08) is now posted (17:34 EAST) - The so-called 'land of the free' is now a failed state and heading towards totalitarianism - billmitchell.org/blog/?p=62700

Thursday's blog post (31/07) is now posted (16:51 EAST) - Major shifts in sentiment within Japan as they try to escape the cost-cutting excess profits mindset - billmitchell.org/blog/?p=62696

Wednesday's blog post (30/07) is now posted (13:15 EAST) - Inflation continuing to fall in Australia further exposing the incompetence of our central bank - billmitchell.org/blog/?p=62686

Monday's blog post (28/07) is now posted (16:42 EAST) - State level fire services need to be adequately funded - land tax hikes are necessary and progressive - billmitchell.org/blog/?p=62681

Friday's blog post (25/07) is now posted (08:42 EAST) - The Smith Family MMT Manga – Episode 2 for Season 3 is now available - billmitchell.org/blog/?p=62678

Thursday's blog post (24/07) is now posted (16:09 EAST) - The report of the Special Envoy to Combat Antisemitism in Australia should be categorically rejected by government - billmitchell.org/blog/?p=62677

Britain’s Leeds Reforms – jumping the shark comes to mind – William Mitchell – Modern Monetary Theory The so-called ‘Leeds Reforms’ are a package of policy changes that will reduce the accountability of senior management in the large financial corporations and entice ordinary consumers to become sharemarket speculators.

Monday's blog post (21/07) is now posted (16:03 EAST) - Britain's Leeds Reforms - jumping the shark comes to mind - billmitchell.org/blog/?p=62675

Can you believe all these financial market economists talking about how today’s labour market results are not bad and that underutilisation is “close to a record low”? That rate is 10.3%. Record lows were unemployment < 2 per cent (not 4.3 per cent) and almost zero underemployment (not 6 per cent).

Thursday's blog post (17/07) is now posted (12:38 EAST) - Australian labour market - evidence is mounting of policy sabotage driving the unemployment rate up - billmitchell.org/blog/?p=62662

Monday's blog post (14/07) is now posted (09:16 EAT) - How to break out of the commodification of everything - billmitchell.org/blog/?p=62659

Thursday's blog post (10/07) is now posted (16:13 EAT) - Treasurer, please sack the RBA governor and the Monetary Policy Board members - they have gone rogue - billmitchell.org/blog/?p=62654

The Eurozone Member States are not equivalent to currency-issuing governments in fiscal flexibility – William Mitchell – Modern Monetary Theory The following claim was rehearsed by two MMT economists in an article they had published in the Review of Political Economy (published February 2024):

Monday's blog post (07/07) is now posted (16:07 EAT) - The Eurozone Member States are not equivalent to currency-issuing governments in fiscal flexibility - billmitchell.org/blog/?p=62651 #mmt

Thursday's blog post (03/07) is now posted (07:32 Netherlands Time) - British Labour Government should ignore irrelevant fiscal 'black holes' and worry about the political hole it is digging for itself - billmitchell.org/blog/?p=62648 #MMT

Thursday's blog post (26/06) is now posted (16:22 EAST) - Australia - the inflation spike was transitory but central bankers hiked rates with only partial information - billmitchell.org/blog/?p=62641 #MMT

Monday's blog post (23/06) is now posted (17:15 EAST) - There will not be a fiscal crisis in Japan - billmitchell.org/blog/?p=62638 #MMT

It's back. Season 3 of our MMT Manga - The Smith Family and their Adventures with Money - begins Friday (June 20, 2025). Lots of things are happening as the nation struggles with a major government-induced recession and upcoming elections. Available in English & Japanese. www.mmted.org/smithfamily/

Australian Labour Market – steady but signs of a deterioration – William Mitchell – Modern Monetary Theory The summary seasonally-adjusted statistics for May 2025 are:

Thursday's blog post (19/06) is now posted (12:44 EAT) - Australian Labour Market - steady but signs of a deterioration - billmitchell.org/blog/?p=62622

Monday's blog post (16/06) is now posted (18:05 EAT) - The US dollar is losing importance in the global economy - but there is really nothing to see in that fact - billmitchell.org/blog/?p=62619 #MMT

Thursday's blog post (12/06) is now posted (15:41 EAST) - The arms race - Part 2 - billmitchell.org/blog/?p=62617

Wednesday's blog post (11/06) is now posted (16:17 EAST) - The arms race again - Part 1 - billmitchell.org/blog/?p=62612

Thursday's blog post (05/06) is now posted (16:32 EAST) - Australia's lowest paid workers get some real wage relief from the latest adjustment to the minimum wage - billmitchell.org/blog/?p=62604

Wednesday's blog post (04/06) is now posted (13:52 EAT) - Australian National Accounts - GDP growth slows significantly - slipping towards recession under current policy settings - billmitchell.org/blog/?p=62588

Monday's blog post (02/06) is now posted (14:57 EAT) - The neoliberal destruction of Australia's higher education system - billmitchell.org/blog/?p=62586 #mmt

Thursday's blog post (29/05) is now posted (16:41 EAT) - The Webbs knew more than a century ago that if you pay high wages you get high productivity - billmitchell.org/blog/?p=62583

Monday's blog post (26/05) is now posted (17:09 EAT) - Japan sales tax debate continues - Reiwa are the only Party that understands the reality - billmitchell.org/blog/?p=62574 #mmt

Thursday's blog post (22/05) is now posted (13:44 EAST) - Commentary on Moody's downgrade gives the game away - finally - billmitchell.org/blog/?p=62571 #mmt

Monday's blog post (19/05) is now posted (16:06 EAST) - A Just Transition framework is required to head of the climate denying Right - billmitchell.org/blog/?p=62568 #mmt