MMT Conference Panel: Fiscal Austerity or Stimulus? (Video) with Bill MItchell, Randy Wray, Joan Muysken, and Bruce Philp.
This was a panel held on December 8, 2011 at the University of Newcastle (Australia) as part of the 13th Path to Full Employment Conference/18th National Unemployment Conference (December 7-8, 2011), hosted by the Centre of Full Employment and Equity (CofFEE). The speakers are:(1) Professor William Mitchell (CofFEE, University of Newcastle)(2) Professor L. Randall Wray (UMKC-Missouri)(3) Professor Joan Muysken (CofFEE-Europe, University of Maastricht)(4) Dr Bruce Philp (Nottingham Trent University).
Re-posted at SOCIAL DEMOCRACY FOR THE 21ST CENTURY: A POST KEYNESIAN PERSPECTIVE by "Lord Keynes"
MMT Conference Panel: Fiscal Austerity or Stimulus?
(hat tip Prof. Scott Fulwiller via Twitter)
2 comments:
Joan made a key point in this talk.
Why aren't the European politicians putting the case for European political union forcefully?
Portugal, Spain and Greece were all military dictatorships within recent history.
A good talk. I wish the UK contribution had been a bit stronger. Relying on the example of student tuition fees showed a lack of understanding of that system.
Student tuition fees in the UK are essentially a lifetime tax that the rich can pay off early. So they don't impact financially in the way implied, but may psychologically.
I think the concerns around political union involve questions regarding sovereignty and culture. Although they've already managed to give up their currencies so there is still room for disagreement on this issue.
Right now, I think the bigger obstacles are the perceptions regarding the "immorality" of countries' debts and the impulse not to institute what could be perceived a radical/transformational change. The lack of understanding among leaders of how monetary operations work also doesn't help much.
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