Climate Crisis
Bill Mitchell: A large government presence required for energy transition does not mean massive deficits are required
Massive government size does not necessarily mean massive fiscal deficits. Read HERE
Bill Mitchell
Energy
Bill Mitchell: A large government presence required for energy transition does not mean massive deficits are needed
To finance energy transition we need to move from a system that allocates resources in favour of private profit, to a more societal-based system. Read HERE WikiRigaou/Creative Commons
Economics
Bill Mitchell: Why are the unions accepting massive real wage cuts?
The point is that many unions have become part of the elite structures that suppress workers and advance the interests of capital In the 1890s, the worker organisations would be out of strike right now […]
Climate Crisis
Bill Mitchell: The climate emergency requires us to reset our understanding of fiscal capacity. It is already, probably, too late
The climate emergency is of another scale again though. And penny pinching now will cause immeasurable damage to humanity. Food security will be threatened. Urban environments will become unliveable. Pandemics will increase if we don’t […]
Economics
Bill Mitchell: A debt jubilee is the only way low-income nations will escape the penury of debt distress (and the IMF/World Bank)
There is something deeply wrong with the world under Capitalism when the poorest countries in the world pay more out on debt servicing to loans that the wealthy countries have provided than they do on […]
Economics
Bill Mitchell: The inflation backtracking from the central bankers and others is gathering pace
Why have central bankers in continued to hike interest rates, especially when the most direct measure of the situation – the actual inflation rate – has been abating for months in most jurisdictions? Read HERE
Economics
Bill Mitchell: The absurdity of the current monetary policy dominance exposed
I repeat my position on dealing with the current inflation: 1. Hold interest rates constant (as in Japan). 2. Do not expand fiscal policy significantly. 3. Provide fiscal support to the low-income families. 4. Watch […]
Economics
Bill Mitchell: The inflationary episode is being driven by profit gouging and interest rate hikes won’t help much
One recent report from the British Unite the Union (published March 2023) – Unite Investigates: Profiteering across the economy—it’s systemic – provides convincing evidence that: We’re living in the midst of a cost of profiteering […]
Economics
Bill Mitchell: Former Bank of Japan governor challenges the current monetary policy consensus
We are witnessing what happens when Groupthink finally takes over an academic discipline and the policy making space. Blind, unidirectional policies, based on a failed framework, steadily undermining all the major goals – that is […]
Economics
Bill Mitchell: The current inflationary period is not remotely like the 1970s
The problem is that central bankers keep referring to wage-price spirals and expectations to justify their decisions to hike rates. The reality is that those justifications are just smokescreens and there is no justification for […]