In http://bilbo.economicoutlook.net/blog/?p=46231
Politics in a Podcast
A few weeks ago, I did a podcast for the group that has organised ‘Politics in the Pub, Newcastle’, which is a monthly event where a speaker(s) address a topic of public interest in a local Newcastle hotel and answer questions from the audience.
It is meant to be an educative engagement with the interested public.
The coronavirus has halted all events like that and so the organisers have done a deal with my university to run a series of interviews with special guest(s) each month on issues that impact on the political debate.
The latest edition, published today (October 28, 2020) features yours truly and discusses the recent fiscal statement from the federal government from an Modern Monetary Theory (MMT) perspective.
While it is focused on Australian specifics, the principles outlined and form of analysis is universal.
Thanks to the convenor Peter Hooker for organising this and producing the show.
It runs for 39:46 minutes.
Entzun Politics in a podcast 2 delakoa hementxe: https://anchor.fm/peter-hooker/episodes/Politics-in-a-podcast-2-el4r7d/a-a37f3a5
joseba says:
DTM eta Australiako arazoak, Bill Mitchell
Guardian Podcast – What is modern monetary theory and could it fix Australia’s problems?
(in http://bilbo.economicoutlook.net/blog/?p=46413)
Some weeks ago I recorded a relatively long interview with the team at the Guardian podcast the Full Story.
The final editing melange came out last week (November 18, 2020).
The Guardian’s page is – HERE. (https://www.theguardian.com/australia-news/audio/2020/nov/19/what-is-modern-monetary-theory-and-could-it-fix-australias-problems)
My only comment is that Martin’s description of Modern Monetary Theory (MMT) being effectively just “money printing” is inaccurate.
It implies that government spending occurs in all different ways depending on whether the fiscal balance is in deficit or not and whether the central bank buys debt issued by the government or not.
The fact is that every day that government spends it creates new currency by crediting relevant bank accounts (or issuing instruments (cheques) that end up as bank credits). There is no printing involved.
I guess Martin was trying to say that MMT economists are relaxed about government spending without the accounting matching of new debt being issued to the non-government sector, which is certainly true.
Anyway, many thanks to Gabrielle Jackson and Martin Farrer and their production team for inviting me to do this and put the final version together.