Econintersect: Prof. Bill Mitchell, Newcastle University, New South Wales, Australia is interviewed by Marshall Auerback of The Institute for New Economic Thinking. The topics addressed include the “basic truths of economics such as every dollar spent is somebody’s income” and the economic proposals for “fiscal contraction expansions” which holds that “an economy will expand if you cut spending“. Among other things, Mitchell discusses what really limits an economy and why unemployment is an unnecessary economic condition, the level of which is chosen by the government.
Marshall Auerback has contributed to GEI.
Note: There is a discussion of the interview published at the INET Website.
Hat tip to Roger Erickson.