So it looks like this for Aus. For comparability, I will use this calibration for the other 207 countries I am examining.

The black line going down indicates that I think Australia's provision of sustainable well-being is going backwards, even as its estimated domestic emissions are falling.

I have the freedom to calibrate a bit, so I thought I'd calibrate to make the GEP track GDP in Australia, until the global social costs of our fossil fuel (and other material) exports drove a wedge between them.

3) Suggest the podcasters enrol on the Torrens University Masters degree in Economics, which includes a realistic and detailed description of modern monetary systems.

d) If we must stay as we are, realise these interest payments mostly depend on central bank interest rate decisions over time, are only mildly stimulative (for domestic currency bonds) and add to income inequality at higher rates. They do not stop you providing public services.

c) Preferably with international co-operation, shift to zero policy interest rates, and adopt other ways of managing inflation (MMT authors and others have written about these). Then just don't ever issue debt securities and leave zero interest reserves in the system.

b) Return to a system of treasury security issuance by tap, at interest rates determined by the central bank and government. If investors don't want to buy, leave them on the central bank balance sheet.

a) Have the central bank (Bank of England) issue these securities and sit with non-marketable government liabilities on its balance sheet or just run with 'negative equity' there instead.

Treasury securities are issued to provide safe assets to fund managers; to provide benchmark yields for private debt securities; and (in some circumstances) to drain cash from the money market for monetary policy purposes. Not to pay for anything. It would be better to do some of the following -

Currency issuers spend via currency issuance every day. They do not need to issue debt securities at all, from the point of view of paying for their spending.

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2) A one-off scholarship, for up to 3 students, covering 100% of tuition fees for the part-time 12-subject Masters degree, open ONLY to women under the age of 40, funded by a (very recent) one-off special-purpose donation, for students starting in February 2026.