Category Archives: Economics and economy

Keynesian economics is guaranteed to make an economy’s problems worse

This is Judy Sloan stating as clear as you like: Time to get the budget in surplus and pay off debt. What it is really about is how disastrous Keynesian economics is and always has been. I am a month … Continue reading

Posted in Classical Economics, Economics and economy | 7 Comments

Lowe as it gets

From Saturday’s Age, two stories opposite each other on pages 6 and 7. The top one is a continuation from the front page about the RBA and the Prime Minister taking a different view on economic policy. It begins: Reserve … Continue reading

Posted in Economics and economy | 41 Comments

Dont mention the inflated cost of infrastructure. Or power prices!

Two fascinating pieces on page 4 of The Aust this morning. One was about Setka’s unpopularity in parts of the labor movement and the other continuing the front page piece on public spending the revive the economy. I expected something … Continue reading

Posted in Economics and economy, Politics, Rafe | 17 Comments

Martin Weitzman 1942 – 2019

This is a very sad story: Martin Weitzman, an inventive economist who argued that governments would see climate change as a more urgent matter to address if they took more seriously the small but real risks of the most catastrophic … Continue reading

Posted in Economics and economy | 26 Comments

A strange duly neglected crank

The ‘Strange, Unduly Neglected Prophet’ was the description given by Keynes to Silvio Gesell, the author of the notion of “stamped money” which is discussed at the link. There are cranks all over economics, but there have always been more … Continue reading

Posted in Classical Economics, Economics and economy | 6 Comments

Which economists?

Binyamin Appelbaum makes a big call in the New York Times: As the quarter century of growth that followed World War II sputtered to a close, economists moved into the halls of power, instructing policymakers that growth could be revived … Continue reading

Posted in Economics and economy | 6 Comments

Leaving it to the market plus the rule of law

A quite interesting article that adds to our understanding of why China is in such a hurry to shut down Hong Kong: Why People in Hong Kong Have Incomes 5x Higher Than People in China’s Richest Province. It’s not long, … Continue reading

Posted in Classical Economics, Economics and economy | 29 Comments

Idlers and good-for-nothings

I’m in the midst of a book on the coming of Keynesian economics into the world and the disappearance of classical theory. I have just now finished a section discussing the first Keynesian textbook ever written, Lorie Tarshis’s The Elements … Continue reading

Posted in Classical Economics, Economics and economy | 29 Comments

An idiotic idea so bizarrely stupid it defies sense

From this morning’s Oz a story I have just gotten round to now: The Reserve Bank governor is calling for 3 per cent wages growth across the public sector, apparently to help the rest of us. Ratcheting up public sector … Continue reading

Posted in Economics and economy | 76 Comments

Platform economies face competition

One of the arguments we (often) hear is that the new digital business model (so-called platform economies) will operate in a winner-take-all market. That we will be inundated with monopolies. Certainly that is the line anti-trust regulators are pushing – … Continue reading

Posted in Cryptoeconomics, Economics and economy, Innovation, Market Economy | 15 Comments