This month marks one year since I began sharing my perspectives on heterodox economics and advocating for policies aligned with Modern Monetary Theory on my Substack, Sociocultural Australis.
To commemorate this anniversary, I've written a fictional profile piece imagining how a journalist might cover my quest to reform the economic system. While the Pulitzer prize-winning journalist Jaideep Singh is not real, I tried to accurately capture my background, motivation, work, and goals through his eyes.
The quotes attributed to me in this fictional piece accurately reflect my own perspectives and advocacy efforts over the past year. I hope this creative approach offers an insightful look into my first year of attempting to engage people on alternative economic ideas and policies.
As I enter my second year writing here, I remain committed to advancing economic justice and equality through reasoned discourse and activism.
Please enjoy this fictional profile as a glimpse into my efforts so far and aspirations for the future. Now, without further ado, I present: "The Economic Populist: Quinn's Quixotic Quest for Justice."
The Economic Populist: Quinn's Quixotic Quest for Justice
By Jaideep Singh, Pulitzer Prize-winning Journalist (fictional character)
As I sit down with Darren Quinn at a cozy cafe near his home in Cowra, Australia, what immediately strikes me is his passion. Though soft-spoken in demeanour, his blue eyes light up brightly when he speaks about his life's purpose - reforming the economic system to empower the disadvantaged.
"I want to transform the financial system to serve ordinary people, not the wealthy elite," he tells me with conviction.
It's an unlikely quest for someone born and raised in this sleepy rural town. But Darren's personal journey helps explain his crusade for economic justice.
A Hard Road
Darren faced immense social and learning difficulties growing up undiagnosed with autism and ADHD. "I was bullied and ostracized. Never quite fit in," he recalls. His struggles continued into adulthood, unable to secure steady work with his disabilities. "The constant job rejections battered my self-esteem," Darren says. "I became depressed."
It was this firsthand experience of the system's failure that sparked Darren's interest in economics. He saw how unemployment, inequality, and lack of community support disproportionately impacted society's vulnerable.
A Deeper Dive into Economic Theory
When I ask him about his attraction to heterodox economic theories like Modern Monetary Theory (MMT), he dives into an explanation. "It was more about the logic of the heterodox economic theory now known as MMT just making sense. You didn't have to twist your mind around with it, it just told the story straight up with logic in an everyday way. It helped me make sense of the way the world works," he shares.
The Underdog Reformer
Darren dove into economics literature, finding purpose in advocating unorthodox reform proposals aimed at full employment and economic justice. He rose to leadership roles in groups like Modern Money Australia that challenge mainstream policy.
But with this came challenges. "Critics attack me as a reckless idealist," Darren admits when I ask him about his encounters with mainstream economists, "They misunderstand MMT. Some think it's about printing money or using a monetary policy like quantitative easing. But it's about finding the most efficient and appropriate use for our resources."
Advocacy in Action
Darren's advocacy work has led to significant campaigns such as the 'Thrive on 25' initiative that aimed to raise the minimum wage in line with productivity gains and the 'Radiate on 88' campaign calling for an increase in all social security payments. "These campaigns were about ensuring that everyone has the means to live decently," he explains.
An Active Voice in Economic Discourse
Through his Substack page, 'Sociocultural Australis', and his personal website, Darren has been consistently sharing his insights and perspectives on MMT. He has written extensively about various aspects of MMT, from its impact on employment to its role in economic inequality. He openly addresses critiques of MMT, responding to influential voices in the field of economics. His writings demonstrate his commitment to advocating for MMT and engaging in open and thoughtful discussion about this theory.
Furthermore, Darren has been sharing his perspectives through various media appearances, such as on KRTD Media and 3CR Radio, where he discusses heterodox economics concepts and dispels myths about government spending and inflation. He also operates the @AusMMT Twitter account, which has amassed over 2000 followers, further demonstrating his active role in engaging with the public and spreading his ideas.
A Rebuttal from Conventional Economists and A Diverse Reaction
Despite Darren's passionate advocacy for MMT, not everyone agrees with his viewpoint. Professors Chris Edmond, Richard Holden, and Bruce Preston from the University of Melbourne and UNSW Business School, in a piece for Crikey!, argued that MMT supporters focus on the "trivial issue of how a government mechanically supplies enough currency to cover liabilities denominated in its own currency," and that this does a "profound disservice to their larger policy goals." They suggest that policy goals like a Green New Deal or a larger social safety net should be argued for on their own terms and not because the government can print money.
They acknowledged that the capability of governments to issue their own currency is neither a new nor controversial idea. However, they argue that MMT doesn't address when the inflation constraint will bind or its consequences. Despite these criticisms, Darren remains undeterred. His belief in MMT and its potential to transform economies and societies remains steadfast.
Personal Drive
Darren's advocacy work is very personally driven. "My own struggles have primarily been longer-term unemployment and struggling to find work and/or keep work that will keep me financially secure," he shares. "Learning that it really is not my fault but an issue with the system is what led me here."
Impact and Influence
When asked about the impact of his work, Darren looks thoughtful. "Any time someone connects with you and looks deeper into MMT and comes to understand it or have had similar experiences to my own, I have had significant impact," he says. "I was the first Australian to promote MMT on social media outside of blogs."
Future Plans
Looking to the future, Darren is planning to launch a campaign called 'Fightback 2.0'. "It's about the people fighting back this time, not business," he explains. His vision for the future is one where society embraces common humanity and public commons. "We would all once again embrace our common humanity and our public commons where all of our utilities from electricity to internet access to healthcare have their supply charge paid for with the public money," he declares. "Or, in more economic terms, I'd like to see more equality and the Gini coefficient return to 0.3 or lower."
Learning More About MMT
For those interested in learning more about MMT, Darren recommends several resources. "For beginners, I would recommend Steven Hail's explainer 'What is modern monetary theory?', Stephanie Kelton's 'The Deficit Myth', and Warren Mosler's 'Seven Deadly Innocent Frauds of Economic Policy'," he suggests. "For more advanced readers, I would recommend Randall Wray's book 'Modern Money Theory', 'Understanding Modern Money', and the textbook he co-wrote with Bill Mitchell and Martin Watts simply called 'Macroeconomics'."
Close of the Conversation
As our conversation draws to a close, I'm struck that figures like Darren give me hope, too. Though his hostile critics are loud, he responds with grace and patience fueled by purpose. On his unlikely quest, Darren Quinn represents the power of the human spirit through hardship. And like others before him, his fight for the underdog just might bend the arc of history towards justice. His commitment to economic justice, grounded in his personal journey and armed with Modern Monetary Theory, is truly inspiring. His story is a testament to the power of perseverance, passion, and the unyielding belief that change is possible.