Category Archives: Economics on the left

Belt up, Dan, and hit the road, you communist fool

Every so often you come across something so revealing that there is little more to add once you have seen it. In yesterday’s Herald-Sun there was an article titled, “China Backs Dan deal”. Of course it does, but this is … Continue reading

Posted in Economics on the left, Free Enterprise, Market Economy, Politics of the Left | 44 Comments

Explaining what is wrong with Magic Money Theory [MMT]

This was from Beachcomber in the comments: Hi Steve, I just read a fascinating essay by Peter Smith at Quadrant: Money printing in the age of Covid In the essay it states: In the age of COVID-19, bonds sold to … Continue reading

Posted in Economics and economy, Economics on the left, Market Economy, Politics of the Left | 42 Comments

Do people generally know what the initials CCP stands for?

The initials CCP stand for Communist Party of China. The CPC is officially organised on the basis of democratic centralism, a principle conceived by Russian Marxist theoretician Vladimir Lenin which entails democratic and open discussion on policy on the condition of unity in upholding … Continue reading

Posted in Economics on the left, International, Politics of the Left | 31 Comments

Glady-ator

NSW public sector wage freeze won’t have support of Shooters, Fishers and Farmers. GLADYS Berejiklian’s admirable ambition to rein in the NSW budget as a pandemic and panic-driven recession looms on the economic horizon has been dealt a predictable blow … Continue reading

Posted in Economics on the left, State Politics | 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

“The best way to destroy the capitalist system is to debauch the currency”

Can you guess who said that? Something that I have focused on in my Classical Economic Theory and the Modern Economy, but which is an otherwise unknown consequence of the Keynesian Revolution, was the shift in emphasis from the real … Continue reading

Posted in Economics on the left | 34 Comments

Multi-billion dollar Beijing deal

What are we to make of this: Labor Treasurer Tim Pallas lashes out at Morrison government as China deal deadline looms? Where is our economy heading? Victoria is locked in critical final-stage negotiations with Beijing over investments worth billions of … Continue reading

Posted in Economics and economy, Economics on the left | 76 Comments

Opportunity Knocks: Anthony Albanese Apes Joe Biden

 And that can’t be good                                                                                                                         A “once in a lifetime opportunity” is how long-sidelined Labor leader Anthony Albanese will today characterise the political hysteria ruining millions of Australian lives and the virus at its root that has so far killed … Continue reading

Posted in COVID-19, Economics on the left, Federal Politics | 33 Comments

Lucky country no more

This sort of thing is always news to politicians, most of the community and to almost all economists: The Economy Doesn’t Need Government ‘Help’ To Reopen. Governments don’t create economies. It’s not only beyond their legitimate functions, it’s beyond their … Continue reading

Posted in Economics and economy, Economics on the left | 51 Comments

Shovel ready projects … again

Historically governments make an effort to create new shovel-ready projects to stimulate an economy after a crisis. You know … knock down perfectly good school halls and then rebuild them.  Set fire to people’s houses … That is so 2009. … Continue reading

Posted in COVID-19, Economics on the left, Oppressive government | 20 Comments