Category Archives: Economics on the left

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

“No permanent additional employment can be created by State expenditure”

A review of the following book was put up on the Societies for the History of Economics online discussion thread: Robert W. Dimand and Harald Hagemann, editors, The Elgar Companion to John Maynard Keynes. Cheltenham, UK: Edward Elgar, 2019. xxi … Continue reading

Posted in Classical Economics, Economics on the left | 5 Comments

Bernie Morrison

Ban on $10,000 cash purchases set to become law despite concerns. Laughing Liberals will jail people who spend their own money A controversial bill to ban cash payments over $10,000 and impose two-year jail sentences on those caught using cash … Continue reading

Posted in Economics on the left, property rights | 37 Comments