Monthly Archives: February 2011

Full Employment with a Job Guarantee

What is a Job Guarantee The basis of the proposal is that the sovereign government unconditionally offers a public sector job at the minimum wage to anyone willing and able to work, thereby establishing and maintaining a buffer stock of … Continue reading

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NAIRU is a myth

Originally posted April 16th, 2009 The dreaded NAIRU is still about! I was thinking – rather optimistically – that it would just disappear from whence it came! But sorry to disappoint. Some economists just won’t learn. Yesterday the ABS released … Continue reading

Posted in Economics, Inflation | Tagged , | 1 Comment

How the Bond market began

In the past (prior to 1982), a tap system operated where the government would set the interest rate and then supply bonds to investors up to demand. Sometimes investors did not take up as much as the Government desired. The … Continue reading

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Quantitative Easing is Bodgy

Some readers have written to me asking to explain what quantitative easing is. Some of them had heard an ABC 7.30 Report segment the other night which interviewed the Bank of England Governor who outlined the BOE’s plan to “print … Continue reading

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Quantitative Easing Explained Revisited Republished

A video has been doing the rounds was called Quantitative Easing Explained. It can be viewed at Menzies House. It is absolutely wrong. It is false advertising. Many people believe it but they have been hoodwinked. Thankfully the truth is … Continue reading

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