This Tuesday report will provide some insights into life for a westerner (me) who is working for several months at Kyoto University in Japan. Well I am back in Kyoto for several months and it is hot and humid – unseasonally so really. And bushfires are already causing havoc in Australia just as Winter has…
Japan
Today, I am heading to the airport for travel to Japan. For the next several months I will once again be working as a professor at Kyoto University as part of the research team concerned with integrating the macroeconomic principles in Modern Monetary Theory (MMT) principles into a broader framework to build national resilience in…
"If it is safe, dump it in Tokyo! If it is safe, test it in Paris! If it is safe, store it in Washington! But keep our Pacific nuclear free!"
The media and the phalanx of mainstream economists from banks etc, the latter of which have a vested interest in interest rates rising in Japan for various reasons, are constantly predicting that the Bank of Japan will relent to the ‘market pressure’ and reverse its current monetary policy stance and fall in line with the…
Last week – RBA wants to destroy the livelihoods of 140,000 Australian workers – a shocking indictment of a failed state (June 22, 2023) – I wrote about the sense of being in a parallel universe when one reads official statements from the Bank of Japan and juxtaposes them against the stream of statements coming…
My early academic work was on the Phillips curve and the precision in estimating the concept of a natural rate of unemployment, or the rate of unemployment where inflation stabilises at some level. This rate is now commonly referred to as the Non-Accelerating-Rate-of-Unemployment (NAIRU) and my contribution was one of the first studies to show…
As the Prime Minister declares dedication to safeguarding peace and security in the Indo-Pacific region, Iain Overton asks: what is the price of Britain’s global projection of power?
The – Washington Consensus – has been out in full force this week with the US Federal Reserve and the RBA increasing interest rates further despite all the indications that inflation peaked months ago and its downward trajectory has had little if anything to do with the ridiculous interest rate rises since early 2022. Both…
At least when it comes to “great” powers and war these days, one lesson seems clear enough: there simply is nothing great about them, except their power to destroy not just the enemy, but themselves as well.