Why politicians must address the reality of debt

A "strange amnesia" has left financial systems and their debt-creating tendencies out of modern macro-economics and it makes no sense.

There is a tired old joke about a group of professionals faced with the problem of opening a can of food. The problem is that they do not have a can opener. As they rack their brains one, an economist, pipes up: "It's really simple. Assume a can opener!"

Sounds ridiculous, doesn't it?

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Max Walsh

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Max Walsh was for many years one of Australia’s top economic and political commentators, highly regarded as a journalist, author and broadcaster. Throughout his career, Max was involved in all dimensions of the media industry, which has encompassed positions with two of Australia’s largest publishing companies and television networks.

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