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An MMT Perspective on How Agenda 30 Could Be Implemented in Australia

In: Community Empowerment, Sustainable Cities, and Transformative Economies

Author

Listed:
  • James Juniper

    (The University of Newcastle)

Abstract

Covid-19 has shown that governments with monetary sovereignty can turn the tap off quickly, if they must, and just as easily turn the tap back on. This has been coupled with a new appreciation for the ability of a sovereign economy to operate effectively despite large levels of net government (and net foreign) debt as a proportion of GDP, reconfirming the experience of those governments during WWII, when debt was used as an instrument to curb consumption and to redirect productive resources and research activity into investment in new capacity and new technology to support the war effort (viz the Agenda 30 strategic policy goals). A similar imperative now confronts nations as they direct resources into a sustainable transformation of the economy. This paper will contribute to these policy objectives by examining the respective economic roles to be played in this transformation by the Job Guarantee, the Green New Deal, and what Mazzucato chooses to call “mission-oriented finance”! In this context, a range of metrics for guiding policy is also evaluated.

Suggested Citation

  • James Juniper, 2022. "An MMT Perspective on How Agenda 30 Could Be Implemented in Australia," Springer Books, in: Taha Chaiechi & Jacob Wood (ed.), Community Empowerment, Sustainable Cities, and Transformative Economies, pages 21-30, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-5260-8_3
    DOI: 10.1007/978-981-16-5260-8_3
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