Episode 63: The Public Interest Economy by Bronwyn Kelly (Chapter 2 - Parts 9 to 11)

Episode 63: Bronwyn Kelly reads Parts 9 to 11 of her book, The Public Interest Economy: the path to wellbeing, security and sustainable consumption in a democratised Australian economy. She discusses how Australia is suffering under a disintegrated macroeconomic management system where priority is given to ineffective monetary policy and governments are prevented from using fiscal policy to it fullest and best potential. The result is an economy that fails to control prices, unnecessarily increases unemployment, stifles private investment especially by small business, and reduces the welfare and wellbeing of the people of Australia.To replace that failing macroeconomic governance arrangement, Parts 9 to 11 suggest that Australian governments need to restore democratic influence over the Reserve Bank. They can do this by integrating responsibility for the macroeconomy under the control of the Treasury. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit bronwynkelly.substack.com