Category Archives: Economics and economy

Presentation on what’s wrong with socialism

This post will be work in progress for the next few days as I put together is my presentation on “What’s Wrong with Socialism?” that I am presenting to the School on March 13. Anyone wishing to add comments to … Continue reading

Posted in Economics and economy, Socialism | 48 Comments

Free Market Economics vs Keynes

I realise how tedious all this maundering on about Keynesian economics is for some people, which I do go on about. But the thing is, you will not find this discussed anywhere else in the world. This is said more … Continue reading

Posted in Classical Economics, Economics and economy | 8 Comments

Is the economy in recession?

No. So we here in Australia use a very rough and ready definition of what constitutes a recession – two consecutive quarters of negative (seasonally adjusted) GDP growth.  Very rough and ready and I suspect few economists would die in … Continue reading

Posted in Economics and economy | 34 Comments

The persistent failure of economic theory

I see the RBA today froze at the thought of raising rates in the midst of an economy as stone cold dead as this one. They are, of course, clueless about why this is, just as Treasury is equally clueless. … Continue reading

Posted in Economics and economy | 51 Comments

The broken crockery fallacy

Via The Week in Pictures.

Posted in Economics and economy | 8 Comments

John Roskam on the 10th anniversary of the Rudd stimulus package

On the silence of the Libs and Labor. The fact that no-one wanted to talk about the legacy of the stimulus package is revealing. Labor didn’t want to discuss it because it brought back memories of the terrific waste involved, … Continue reading

Posted in Economics and economy, Rafe | 18 Comments

Australia’s dismal economic future

The front page story in the AFR today is: Weak incomes for years to come, International Monetary Fund warns. A bit of the story, all depressing: Real incomes are poised to barely grow over the next six years and living … Continue reading

Posted in Economics and economy | 24 Comments

What is capitalism?

There is an interesting thread at Powerline on the question What is socialism? The central aim of socialism has always been to rid ourselves of the capitalist system. And what, exactly, do these socialists wish to get rid of? Certainly … Continue reading

Posted in Economics and economy, Economics on the left, Socialism | 72 Comments

Make the other half work too

In a previous life that was the title of the advertising textbook I studied in third year commerce.  The title riffed off a statement that only half of all advertising worked but nobody could be sure which half. II was … Continue reading

Posted in Economics and economy, Gratuitous Advertising | 15 Comments

ALP will be taxing your Nana

I have an op-ed in the AFR this morning on the proposed policy to end fulling paying out excess franking credits. Some 6.1 per cent of taxpayers appear to earn excess franking credits – less than the 8 per cent … Continue reading

Posted in Economics and economy, Shut it down. Fire them all., Taking out the trash, Taxation | 57 Comments