Category Archives: Economics and economy

Magic Pudding Monetary Theory (MMT)

The most important element in understanding how an economy works is to begin from its resource base, its existing infrastructure, its labour force and its entrepreneurs. Then mix in the laws and regulations, along with the personal beliefs of the … Continue reading

Posted in Economics and economy, Economics on the left | 16 Comments

The Greiner landslide of 1988. A warning to Boris Johnson and Scott Morrison

At the March 1988 election, Nick Greiner led the Coalition to a landslide victory in NSW to end a long period of Labor rule under Neville Wran. The Coalition scored a swing of over 8 percent and took 22 seats from … Continue reading

Posted in Australian Story, Conservative politics, Economics and economy, Rafe | 16 Comments

Well duh!

There is a story in The Australian this morning described with the word “Exclusive”. OMG! Sounds serious. But no … The over-distribution of capital through dividends or share buybacks can be a drain on corporate performance over the longer term, … Continue reading

Posted in Economics and economy | 17 Comments

A how-to guide to economic policy

For any single business, higher demand, all other things being equal, makes them more money and can often lead to an increase in the number of employees. For an entire economy, higher demand has no bearing either on real incomes … Continue reading

Posted in Australian Story, Classical Economics, Economics and economy | 10 Comments

Nukes: how good are they?

Tony Grey in The Australian: Bushfires, drought: Nuclear the answer to burning problems. His column is as good a hook as any to re-visit Peter Lang’s superb analysis, posted here at Catallaxy in November: Peter Lang: What could have been … Continue reading

Posted in Economics and economy, Market Economy | 21 Comments

Is population the “principal driver” of GDP?

Bloomberg has published a fascinating analysis of GDP concentration by geography in the United States: Just 31 counties, or the top 1% by share, made up 32.3% of U.S. gross domestic product in 2018, according to data released last week … Continue reading

Posted in Economics and economy | 36 Comments

Has innovation stalled?

This sentence, from the Wall Street Journal, strikes me as being profoundly wrong: Today, another half-century later, a coast-to-coast flight still takes you as long as it took your father in the 1970s. And with the major exception of computers, … Continue reading

Posted in Economics and economy, Free Enterprise, Innovation | 102 Comments

Pyrmonter on Paul Volcker

It is worth pausing to note the recent death of Paul Volcker. Pyrmonter’s first consciousness of ‘economic’ issues was learning as an under-ten that the value of a 20c bag of lollies from the deli kept falling, and the price … Continue reading

Posted in Economics and economy, Guest Post | 5 Comments

Arnold Kling on Facebook detractors

The great Arnold Kling asks the question: I am sick of reading about people who want to regulate Facebook. You didn’t come up with the idea. You didn’t build the business. Now that it’s here, who the heck do you … Continue reading

Posted in Cryptoeconomics, Economics and economy | 26 Comments

Housing affordability cruelled by Netflix

A whole bunch of people owe Bernard Salt an apology. In 2016 he argued that the penchant for smashed avocado for breakfast was the reason many young people couldn’t get into the housing market. Not to be outdone, ASIC has … Continue reading

Posted in Economics and economy, Oppressive government, Taxation | 34 Comments