I have already volunteered that I subscribe to the Keynesian theory of Economics. In other words Modern Monetary Theory .
Would you believe one of the worlds leading practitioners in this theory of Economists is Professor Bill Mitchell, an Australian. Bill Mitchell is the Research Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE) at the University of Newcastle, NSW Australia.
Read his blog here :
http://bilbo.economicoutlook.net/blog/
Choose a subject on the right of the page and you'll find his views reflect all those fears that both Mike and Merv have addressed. He then goes on to explain why and how successive governments have gone wrong and what the solutions are.
Rant over.
