Category Archives: Economics and economy

What happened to good policy in the ALP?

Sharing some fugitive thoughts before starting the seriously nerdish business of the day and the Roundup Oct 21. Update, something I couldn’t find this morning, the press cuttings attacking the New Right in the 1980s. Remember the time when Hawke … Continue reading

Posted in Economics and economy, Rafe | 17 Comments

Richard Thaler wins the 2017 economics Nobel

The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2017 to Richard H. Thaler University of Chicago, IL, USA “for his contributions to behavioural economics”. Press Release. Popular … Continue reading

Posted in Economics and economy | 17 Comments

An unnatural rate of economic ignorance

Having taught modern policy just this week, about inflation targeting and the natural rate of interest, and again while doing it wondering whether such gross stupidity can still persist when it has caused nothing but grief, it was nice to … Continue reading

Posted in Economics and economy | 9 Comments

Bad advice from The Financial Times

Every time I think we are making progress on getting rid of Keynesian macro, I come across something like this from The Financial Times in the UK: Donald Trump’s trickle-down delusion on tax. Today, debt is 77 per cent of … Continue reading

Posted in Economics and economy, Media | 7 Comments

RMIT is the George Mason of the South

It was certainly never intended that way but the School of Economics, Finance and Marketing at RMIT has become one of the great free market universities of the world. This has been posted at Instapundit just today following the post … Continue reading

Posted in Economics and economy, Education | 56 Comments

The nirvana fallacy and ATM fees

Australians have woken to the news that the hated ATM withdrawal fees have been scrapped. Here is our political class claiming credit: Mr Morrison said the initiative — led by the Commonwealth Bank as it attempts to recover from a series of … Continue reading

Posted in Economics and economy, Financial Services | 16 Comments

The Economist published my letter!

In the letters section of this week’s Economist You don’t Say The term “Say’s Law”, (Economics brief, August 12th) was invented by the American economist, Fred Taylor, and popularised in his introductory text, published in 1921. Moreover, the phrase “supply … Continue reading

Posted in Classical Economics, Economics and economy | 10 Comments

Not just about Say’s Law but also why almost the whole of modern economic theory is useless

You may think such a thing is impossible, and certainly impossible to prove, and even more certainly impossible for me to prove, but before you say that first you have to watch the presentation yourself. The venue is Los Angeles. … Continue reading

Posted in Classical Economics, Economics and economy | 10 Comments

Some thoughts on cashless welfare

Jeremy Sammut has a provocative article in [email protected] this week on cashless welfare. It’s a libertarian fantasy that the problem of welfare dependence can be addressed without using the power of the state to compel responsible personal behaviour. State compulsion, … Continue reading

Posted in Economics and economy, Take Nanny down | 57 Comments

Felipe Lungov: Why We Should Celebrate Profits

Different people and cultures throughout history have had different perceptions on the morality of profits. Professor Deirdre McCloskey deserves special praise for her study on how people in some European countries during the 17th and 18th centuries began to view … Continue reading

Posted in Cross Post, Economics and economy | 24 Comments