Category Archives: Economics and economy

Garrison on Austrian trade cycle theory II

Here is a post from 2011 where Roger Garrison explains Austrian Capital Theory and the problem of artificially low interest rates. For some context, the  ASX 30 Day Interbank Cash Rate Futures market is forecasting that official interest rates will decline … Continue reading

Posted in Classical Economics, Economics and economy | 4 Comments

The RBA is run by incompetents

Really beyond stupid. Purely destructive, but I suppose you can’t expect them to know any better since they are all students of modern macro: RBA cuts official cash rate to 0.75pc at October meeting. They continue with all of their … Continue reading

Posted in Classical Economics, Economics and economy | 90 Comments

Germany in decline and Kohler on the failure of democracy compared with China

A couple of items from The Weekend Australian. A piece reprinted from The Economist described the “simply awful” state of German manufacturing. The index of output shows the sharpest decline since 2009. The services sector also lost momentum. Many economists … Continue reading

Posted in Economics and economy, Global warming and climate change policy, Oppressive government, Rafe | 58 Comments

Costello joins the resistance

Peter Costello was Australia’s greatest Treasurer bar none. Today in The Oz there is a front page story that reminds me just how much this is so: RBA cuts won’t help the economy, says Peter Costello, with the subtitle, “Former … Continue reading

Posted in Classical Economics, Economics and economy, Federal Politics | 36 Comments

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 | 8 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