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If there are two big economics ideas that have fired up the popular imagination during the Covid-19 epidemic they are the universal basic income and modern monetary theory. And with the primary criticism of the first being the cost, the second - which claims countries with their own currency can never run out of money - would seem to provide the answer. But the Australian economist who coined the term MMT, Bill Mitchell, isn’t a fan of the UBI - a proposal he dismisses as an unnecessary surrender to neoliberalism.I spoke to Bill last month and the The Spinoff have published an article I wrote based on the interview. But there’s a lot that didn’t make it into that story so here’s a full transcript (edited slightly for sense ).... Scoop (AU)Bill Mitchell: A Job Guarantee
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If there are two big economics ideas that have fired up the popular imagination during the Covid-19 epidemic they are the universal basic income and modern monetary theory. And with the primary criticism of the first being the cost, the second - which claims countries with their own currency can never run out of money - would seem to provide the answer. But the Australian economist who coined the term MMT, Bill Mitchell, isn’t a fan of the UBI - a proposal he dismisses as an unnecessary surrender to neoliberalism.I spoke to Bill last month and the The Spinoff have published an article I wrote based on the interview. But there’s a lot that didn’t make it into that story so here’s a full transcript (edited slightly for sense ).... Scoop (AU)Bill Mitchell: A Job Guarantee
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Mike Norman considers the following as important:
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Scoop (AU)If there are two big economics ideas that have fired up the popular imagination during the Covid-19 epidemic they are the universal basic income and modern monetary theory. And with the primary criticism of the first being the cost, the second - which claims countries with their own currency can never run out of money - would seem to provide the answer. But the Australian economist who coined the term MMT, Bill Mitchell, isn’t a fan of the UBI - a proposal he dismisses as an unnecessary surrender to neoliberalism.I spoke to Bill last month and the The Spinoff have published an article I wrote based on the interview. But there’s a lot that didn’t make it into that story so here’s a full transcript (edited slightly for sense )....
Bill Mitchell: A Job Guarantee