The videos posted below are to talks given last July at a Politics in the Pub session in Katoomba, New South Wales, Australia by Victor Quirk and Bill Mitchell of the Centre of Full Employment and Equity (CofFEE), University of Newcastle. Both speakers emphasize the capacity of a currency-issuing government to ensure that full employment is maintained at all times. All that is missing right now is the political will.
The global economic crisis, and government policy responses to it, have sparked controversy and debate. Many claim that the deficit expenditures undertaken in countries such as the US and Japan will impose higher tax rates and interest rates on future generations, and some fear a collapse in the dollar and runaway inflation. The problems faced by Greece, Ireland, Spain and other vulnerable members of the European Monetary Union are interpreted as omens of the fate about to befall the US and other nations unless fiscal austerity is imposed and public debt dramatically reduced.