Category Archives: Economics and economy

Only supply constitutes demand

Other than straight out socialist plunder, no better way to comprehensively ruin an economy is to think public spending and monetary expansion can raise living standards and promote employment growth. Here’s an article by Richard Salsman published at The Hill … Continue reading

Posted in Classical Economics, Economics and economy | 15 Comments

When the facts change …

This morning an op-ed in the AFR caught my eye. It is by Steven Hamilton and Chris Edmond. They make the argument that the $130 billion $70 billion JobKeeper program can be finetuned. By deleting just two words in the … Continue reading

Posted in COVID-19, Economics and economy | 14 Comments

A supply-side take on the PM’s package

I have to say that I have been charmed by the approach taken by the Government to bring us out of the lockdown. I find this especially extraordinary: “Value created by establishing successful products and services, the ability to be … Continue reading

Posted in Economics and economy | 18 Comments

“What makes the boat go faster?”

Prime Minister Scott Morrison gave an address to the National Press Club today – the transcript is here. As always with these things there seems to a lot to like and things to dislike. To like: This health and economic … Continue reading

Posted in COVID-19, Economics and economy | 32 Comments

Reaping the whirlwind

The video is on the simplistic side but is accurate enough. The point is that spending of itself doesn’t make your economy grow and more especially, able to repay a loan. Only value adding investment does that, investments where every … Continue reading

Posted in COVID-19, Economics and economy, Economics on the left | 18 Comments

Alberto Alesina 1957 – 2020

Alberto Alesina, the Harvard University political economist, died of a heart attack yesterday while hiking. Alesina’s views on so-called “austerity” were widely debated during and immediately after the GFC (here and here). STEVE KATES ADDS: The second of those “here” … Continue reading

Posted in Economics and economy | 1 Comment

Oliver Williamson 1932 – 2020

Oliver Williamson – the joint 2009 Nobel laureate – passed away last Thursday aged 87. He is best known for his 1985 book The Economic Institutions of Capitalism.  My original copy actually fell apart a few years ago. It is … Continue reading

Posted in Economics and economy | 4 Comments

Missing The Target

CONGRATULATIONS to David Littleproud for what must be – at the very least – a top five entry in the week’s list of dumbest economic thought bubbles. Reacting to news of Wesfarmers’ decision to either close or re-badge as K-Marts … Continue reading

Posted in Economics and economy, Market Economy | 24 Comments

“More people will die from the measures than from the virus”

An interview with Yoram Lass, “the former director of Israel’s Health Ministry, on the hysteria around Covid-19”: ‘Nothing can justify this destruction of people’s lives’ at Spiked. Read it all, but this is how it opens – I have left … Continue reading

Posted in COVID-19, Economics and economy | 15 Comments

Distancing himself from Democrat lunatics, Fauci backs Trump

Anthony Fauci warns of ‘irreparable damage’ if lockdowns are kept in place for too long. We can’t stay locked down for such a considerable period of time that you might do irreparable damage and have unintended consequences, including consequences for … Continue reading

Posted in COVID-19, Economics and economy, Politics | 15 Comments