Lecturer in Economics, University of Adelaide
Steven Hail is a Lecturer in the School of Economics at the University of Adelaide and Research Scholar at the American Binzagr Institute for Sustainable Prosperity, with a Ph.D. from Flinders University, and a M.Sc from the London School of Economics.
During the 1990s, he lived and worked in London, published a number of economics text books, and was involved in the provision of financial training to staff from all the major UK banks, many international banks and the Bank of England. He gradually developed an awareness of the dangerous flaws in orthodox neoclassical economics, which led eventually to the study of Post Keynesian economics in general, and modern monetary theory in particular.
In recent years, he has been a teaching specialist, committed to the defence of economic pluralism in otherwise orthodox economics departments, and the dissemination of insights from modern monetary theory to the general public. He has conducted public forums to that end, and served on the editorial committee of the Economic Reform Australia Review. The title of his Ph.D. was Behavioural and Post-Keynesian Foundations for a new Macroeconomics.
Debate over what the Reserve Bank governor and the treasurer should do usually runs along familiar lines. The bank is supposed to set its cash rate to keep inflation low and stable, while the government is supposed to...