Felix Plunkett - Economics Students Society of Australia

Felix Plunkett

PART ONE. Modern Monetary Theory

PART ONE. Modern Monetary Theory

Your Tax Dollars Never Get Spent and Government Budgets Shouldn’t Balance Modern Monetary Theory (MMT) is based on what will be described as the Two Fundamental Truths of fiat currencies. Note that fiat currencies are openly floated means of exchange issued by governments [31]. These fundamentals are: 1. Federal

The folly of growth via consumption

The folly of growth via consumption

Growth through saving or consumption: Part 3 History has shown that the balance of world power shifts in cycles. The US economy quickly rose through investment in agriculture, industry and utilities. Yet as its wealth multiplied, such investment became increasingly subordinate to other endeavours. The US has consistently led the

Empires on which the sun will never set

Economic History

Empires on which the sun will never set

Growth through saving or consumption: Part 2 The world is undergoing a once-in-a-century transition of economic power. Hyperbole and speculation are rife while the passivity of such a transition is still unknown. Drastic changes in the world order have occurred before. Using the litmus test that the world order is

The making of an economic superpower

The making of an economic superpower

Growth through saving or consumption: Part 1 The changing of world orders, that is, a change from one dominant economic power to another, are often remembered by single events. History is brimming with tales of lost wars and overthrown leaders. The Suez Canal Crisis of 1956 made it clear Britain