Category Archives: Economics and economy

You do know that an increase in the GST from 10% to 12.5% would mean a 25% increase in tax revenue

At the moment the GST is 10%. On $1000 there is therefore a tax of $100. If the tax is raised to 12.5%, on $1000 the tax would be $125. $125 is 25% higher than $100. The increase is not … Continue reading

Posted in Economics and economy | 24 Comments

Chris Berg: Multi-sided market collapse in the newspaper industry

Everybody, whatever side of politics they are on, generally agrees that the media is one of the reasons that politics is so polarised right now. Agreeing on why the media has driven this is a little harder. Yes, the newspaper … Continue reading

Posted in Cross Post, Economics and economy, Media | 57 Comments

Thomas Sowell turns ninety

Happy 90th birthday (June 30) to Thomas Sowell, one of the greatest living economists, which begins: One of my two all-time most favorite economists — Thomas Sowell — turns 90 tomorrow, he was born on June 30, 1930. Here is … Continue reading

Posted in Classical Economics, Economics and economy | 18 Comments

QE Phooey

Never forget that governments have no money – it is always ours. If there really were a costless way to finance government spending it would have been discovered by now. In the economic menu of life there are lunches of … Continue reading

Posted in Australian Story, Economics and economy | 27 Comments

How bad are things, economically – really? Well, Peter Costello explains that only a non-leftist Liberal government can save us

 That bad                                                                                                                                              Paul Kelly: Coronavirus and its lethal politics chipping away at life as we knew it. Drawing on his experience, former long-­serving treasurer Peter Costello tells Inquirer he anticipates that federal government debt will reach one trillion dollars when … Continue reading

Posted in Australian Story, Economics and economy | 80 Comments

COVID 19: Views from across the Asia Pacific region

The Institute of Economic Affairs will be hosting a webinar: COVID 19: Views from Across the Asia Pacific region When: Tuesday 23rd June at 12:30 BST. This is 9:30 pm in Australia. Leading think tank heads and academics from the … Continue reading

Posted in COVID-19, Economics and economy, Gratuitous Advertising | 3 Comments

Reifying a classification plus a message to 2dogs

Before I start I would like to invite 2dogs to contact me since I would like to put an article together – with him preferably – based on his comment on a previous thread. My email: [email protected] In my previous … Continue reading

Posted in Economics and economy | 32 Comments

Employment has just gone over a cliff III

Updating my guesstimates of unemployment during the COVID-19 crisis. The ABS released unemployment data for May this morning. As we’re indicated before, the challenge is that the current JobKeeper scheme distorts the numbers. So using the same technique as last … Continue reading

Posted in COVID-19, Economics and economy | 27 Comments

Would the real anti-Keynesian economist please stand up

Here there are two anti-Keynesians in Australia and we both disagree with each other. The headline in the paper was kind of all right – It’s Keynes’s fault – again we go into debt to ‘stimulate’ the economy – but … Continue reading

Posted in Classical Economics, Economics and economy | 11 Comments

Bastiat must be very sad

Bastiat must be very sad knowing his broken window parable will be proven wrong as Target, Walmart, and all the Mom and Pop businesses rush back to rebuild and repair those broken windows. Society, especially the poor, will benefit. See … Continue reading

Posted in Economics and economy | 11 Comments