I have just come from the launch of the second edition of Steve Kates’ Free Market Economics: An Introduction for the General Reader.
I’m sure none of you have ever heard of this book before – as Steve never talks about it. 🙂
More seriously, the book was highly recommended by Peter Costello who gave it a glowing reference and even threw in some jokes about Say’s Law. Peter spoke well, as always, outlining his view of the global financial crisis and the stimulus spending that “saved” Australia.
He also raised an important issue that hadn’t occurred to me before: Why hasn’t the Abbott government asked the Treasury to revisit its forecasts and advice and modelling over the 2008-09 period in particular and then subsequent years to show that the Keynesian stimulus was completely wasted? The answer, I suspect, is that the Abbott government simply doesn’t have enough mongrel in it for that sort of thing.
Anyway, even as I type Steve is out to dinner with the great man and no doubt will post on the matter later.