Bill Mitchell on Full Employment

There are quite a few good videos about at the moment.

This is a wonderful but short lecture by Professor Bill Mitchell giving a keynote address at the National Skills Conference in Melbourne (Australia) on June 29, 2011, on full employment from the perspective of Modern Monetary Theory (MMT). What is notable is that the attack on full employment in Australia began in 1975, under the Liberal Prime Minister Malcolm Fraser (1975-1983), and this continued with reduction of public sector employment in the late 1970s.

A better measure of unemployment measures broad labour underemployment, which at the moment in Australia is about 12.2%.