Category Archives: Economics and economy

How much worse can it get?

A reminder to you Keynesians out there, macroeconomic theory is false from end to end, providing no insight into how an economy works. Other than that, please carry on. From Instapundit. HORRORS OF THE TRUMP ECONOMY: Skills Gap Gives Workers Unprecedented … Continue reading

Posted in American politics, Economics and economy | 11 Comments

Mardi Dungey 1966 – 2019

Today we hear the very sad news that the great Australian economist Mardi Dungey has passed away.  She had spent the last ten years at the University of Tasmania.  Before that she was at Cambridge. When she and her husband … Continue reading

Posted in Economics and economy | Leave a comment

We’ll always have Paris

Both the Australian and the Australian Financial Review carried a story today about the Paris Agreement. Australia’s economy will be among the worst affected by the Paris climate change agreement, enduring slower growth, fewer jobs and a “notable” 6 per … Continue reading

Posted in Economics and economy, Global warming and climate change policy | 29 Comments

Harold Demsetz 1930 – 2019

Harold Demsetz the great Chicago school economist (who spent much of his career at UCLA) passed away on 4 January this year. He was 88.  Unfortunately and inexplicably he never won the economics Nobel (in this he joins Armen Alchian … Continue reading

Posted in Economics and economy | 12 Comments

David Leyonhjelm on Inequality

Every morning when we look in the bathroom mirror we are reminded that life is not fair or equal. If I was a proselytiser for equality I would demand the bloke who sits behind me in the Senate give up … Continue reading

Posted in Economics and economy, Guest Post, Taxation | 24 Comments

Australia’s chronic economic underperformance

I have this piece in Quadrant. It was triggered by this graphic presenting a 300 year review of the rise and fall of nations in the GDP stakes.  By 1913, the Western world’s living standards were two- to tenfold those of the rest … Continue reading

Posted in Economics and economy, Federal Politics | 13 Comments

President Trump is applying Say’s Law in managing the American economy

For almost everyone, Say’s Law is something they know nothing about, and especially among economists, who themselves not only do not know what Say’s Law is, but are taught that it is unambiguously wrong. But as the success of the … Continue reading

Posted in Classical Economics, Economics and economy | 15 Comments

Dan Mitchell in Chile.

Our man Dan reports from Chile. Compare with Venezuela and also South Africa. What could go wrong with a government dominated by the African National Communist Party? That is a reference to a report that the party rivals are killing … Continue reading

Posted in Economics and economy, Rafe | 15 Comments

An economic mystery

JOBS UP BIG! +312,000 RECORD NUMBER WORKING MANUFACTURING BEST IN 20 YEARS HISPANIC UNEMPLOYMENT LOWEST EVER DOW +747   There is not a modern textbook in macroeconomic theory that will explain what is happening in the American economy. The transformation … Continue reading

Posted in American politics, Economics and economy | 100 Comments

Two economies in one

Both from Drudge. Whiff of Extinction Blows in Bull Market That Outlived Them All… STOCKS HEAD FOR WORST DECEMBER EVER…  AND BOOM: Holiday Retail Sales Strongest in Years… Low gas prices lead to record travel… AND WHAT A DIFFERENCE A … Continue reading

Posted in Economics and economy | 45 Comments