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Monday, 08 February


The capacity of the state and the open economy – Part 1 Bill Mitchell – billy blog

Wolfgang Merkel wrote in his recent Op Ed (February 5, 2016) – Economy, Culture And Discourse: Social Democracy In A Cosmopolitanism Trap? – that “we are dealing with a partially deliberate, partially careless surrender of the state’s capacity to regulate and intervene in an economy that structurally creates socio-economic inequality and erodes the fundamental democratic principle of political equality”. I highlight, the “partially deliberate, partially careless surrender” description of what has occurred over the last several decades as neo-liberalism has gained traction. Today’s blog continues my series that will form the content for my next book (due out later this year) about the impacts of globalisation on the capacities of the nation state. Our contention (I am writing this with Italian journalist and author Thomas Fazi) is that there has been no diminuition in the power of the state to impact on the domestic economy. The neo-liberal era has seen many commentators deny that proposition, yet, knowingly advocate use of these powers to further advantage capital at the expense of labour. The state is still central to the picture – it just helps capital more and workers less than it did during the full employment period in the Post World War II decades.

This blog continues the themes began in the blog – The Modigliani controversy – the break with Keynesian thinking

As background to this blog, the following articles were cited in Part 1:

1. Modigliani F. and Padoa-Schioppa, T. (1977) ‘La politica economica in una economia con salari indicizzati al 100% o più’, Moneta e Credito, 117, 3-53. Download


Influence public debate this way Prosper Australia

Our fortnightly Evolving Economics enews. Subscribe here. Having trouble reading this newsletter? View it online. The enews of Prosper & Earthsharing Australia February 2016 SLF Festival this weekend Earthsharing Australia will be spreading the message of earth rights economics at the Sustainable Living Festival (SLF) again this year. The crowd is dominated by progressives who […]


Qld urged to ignore benefits of wind and solar and rethink renewables target Renew Economy

Queensland Productivity Commission warns QRET will cost $10.8bn in subsidies, based on a study in which the benefits of new renewable energy are studiously ignored.


Queensland inquiry’s big fail on rooftop solar and battery storage Renew Economy

Imagine you are a government, or pricing regulator, or independent advisory body charged with addressing the soaring cost of electricity: Where would you focus your efforts – on the biggest source of those price surges, or a minor addition labelled green?


Is Australian coal finally having its “oh sh*t” moment? Renew Economy

Queensland Resource Council calls for government aid as struggling coal companies "teeter on the brink". Is the coal industry finally facing up to reality?


Australia’s new Chief Scientist speaks on techno-optimism, renewable energy and encouraging STEM Renew Economy

Dr Finkel on his views on topics ranging from “techno-optimism” to renewable energy to encouraging young people to pursue careers in science, technology, engineering and mathematics.


CSIRO boss’ failed logic over climate science could waste billions in taxes Renew Economy

Larry Marshall is right that the question of global warming has been answered. But there are many more climate questions to answer.


World’s largest offshore wind farm to be built in UK Renew Economy

The U.K. wind energy industry received a boost this week with the announcement of the world’s biggest offshore wind farm, to be built off the northeast coast.


Lockheed Martin signs its first major renewables deal for 30MW of solar Renew Economy

Earlier this week, aerospace, defense, and advanced technology company Lockheed Martin announced that it had concluded a deal to buy 30 MW of solar power.


Waterloo wind farm extension set to begin, using Australian-made turbine towers Renew Economy

Work to increase EnergyAustraila's Waterloo wind farm to a capacity of 130MW will start this month, with local SA company Keppel Prince to supply six new turbine towers.


Graph of the Day: Why solar power is taking over the world Renew Economy

For anyone who is in doubt about the incredible journey solar power has taken in past decade, this graph offers a stunning reminder.

Friday, 05 February


TPP: The Ratification Race is On The Diplomat » Pacific Money

All eyes will be on the United States (and Japan), which can make or break the massive free trade agreement.

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