Next in Sydney

Published by Dallas Lewis on

A Just Transition Framework for the Future

Saturday 23 November 2019 2pm – 4pmA Just Transition

Modern Money Australia (NSW) are honoured to have Professor Bill Mitchell, from the Centre of Full Employment and Equity (CofFEE) at the University of Newcastle and one of the founders of Modern Monetary Theory (MMT) as our guest speaker this month. Bill will be speaking about the need for a Just Transition Framework for the Future, as a vehicle for dealing with the massive socio-economic transformations that will be needed if our societies are to effectively deal with the problem of anthropomorphically-induced climate change. The Framework is motivated by the awareness that without consent from the people, particularly those who will be negatively impacted by these transformations in terms of their jobs and local opportunities, there is little chance of an effective policy response to the climate emergency.

The Just Transition Framework offers a radical alternative to the status-quo and stands in stark contrast with the lukewarm, neoliberal, market-based policy solutions that currently dominate the inertial climate change debate. Mitchell states that action on climate change ‘has to be radical and elevate government to the centre, rather than just seeing the government as a facilitator for better capitalism’ (Mitchell, W., 2019). Such government-led solutions will exploit the currency-issuing capacity of the Australian federal government, which an MMT understanding shows us is not financially constrained in its spending. Thus, the usual criticisms of government action that derail progressive initiatives, which can be summarised by the question “How will we pay for it?”, become irrelevant and the real questions of political legitimacy and real resource availability are elevated to the centre of the debate over a ‘Green New Deal’.

We will learn that effective action on climate requires an understanding of MMT in order to avoid these dead-end debates over government funding capacities. Further, Bill will show why establishing political legitimacy requires the currency-issuing capacity of government be used to ensure, not only that essential green infrastructure is developed, but that the losers from the regulated closures of carbon-intensive sectors, are not disadvantaged in any fundamental way. We will learn why MMT crucially forms the foundation of the Just Transition Framework. A just transition is not only possible, it’s our only option. And, there’s no Just Transition without MMT.

“The real choice is not jobs or environment. It is both or neither.” (Kohler, B., 1996).

  1. Kohler, B. (1996). Sustainable Development: a labor view. Retrieved from https://www.sdearthtimes.com/et0597/et0597s4.html on 9/11/19.
  2. Mitchell, W. (2019). Modest (insipid) Green New Deal proposals miss the point – Part 2. Retrieved from http://bilbo.economicoutlook.net/blog/?p=42794 on 9/11/19.

ALL WELCOME – tickets are free. But, if you can manage it, a small donation (a $5 note if you can afford it) would be much appreciated. Please register for a ticket, as seats are limited. You’re welcome also to join us for drinks and a chat after the event, from about 4:30pm, at The Clock Hotel in Surry Hills.

We hope you can make it!

A Just Transition

Previous forums

Health for all: MMT and healthy public policy

Health for All was our presentation on Saturday 26 October. Our guest speakers were Dr Geoff McDonnell and Associate Professor Kenny Lawson, both with distinguished careers in Public Health, who discussed the public health consequences of the prevailing neoliberal political economy and the impact that a shift to an MMT-informed progressive public policy agenda would have for our health and wellbeing.

The video of the presentation will be avbailable soon.

Challenging the Dominance of Monetary Policy: An MMT Perspective

    Modern Money Australia (NSW) hosted Dr Martin Watts for its September 2019 forum. Dr Watts is Emeritus Professor of Economics at the University of Newcastle and a research associate at the Centre of Full Employment and Equity (CofFEE).

    The video of the presentation will be avbailable soon

    Categories: Forum