Author Archives: bill

The ‘post-truth’ era – nothing new in mainstream economics

The dictionary says Post Truth is the “fact or state of being post-truth; a time period or situation in which facts have become less important than emotional persuasion”. But I prefer to be direct – not to mince words – … Read the rest of this entry »

Posted in Debriefing 101, Economics | 15 Comments

Australian national accounts – inexorably marching towards recession

In the June-quarter, it was only the contribution of public spending that allowed the Australian economy to avoid negative growth. That contribution disappeared in the September-quarter and given the fiscal settings and the negative investment contributions it was obvious that … Read the rest of this entry »

Posted in National Accounts | 18 Comments

Our affect is driving us back to a need for continuous fiscal deficits

The field of psychology is usually ignored by mainstream economists, which, in its typically arrogant and closed practice, adopts a series of a priori assumptions about human behaviour – the so-called Homo economicus – where were are always rational and … Read the rest of this entry »

Posted in Britain, Economics, Fiscal Statements, UK Economy, US economy | 11 Comments

I, Daniel Blake – essential viewing

So Italy has now gone the way of the UK and the US in its referendum vote – rejecting the establishment but not sure on what to do instead. It seems that the US voters have been duped by a … Read the rest of this entry »

Posted in Britain, UK Economy, Unemployment Benefits | 25 Comments

The Weekend Quiz – December 3-4, 2016 – answers and discussion

Here are the answers with discussion for this Weekend’s Quiz. The information provided should help you work out why you missed a question or three! If you haven’t already done the Quiz from yesterday then have a go at it … Read the rest of this entry »

Posted in Saturday quiz | 3 Comments

The Weekend Quiz – December 3-4, 2016

Welcome to The Weekend Quiz, which used to be known as the Saturday Quiz! The quiz tests whether you have been paying attention or not to the blogs I post. See how you go with the following questions. Your results … Read the rest of this entry »

Posted in Saturday quiz | 1 Comment

Australia races to the low-pay bottom while employers’ lies are exposed

Over the last 12 months, it has been increasingly obvious that the Australia has become a part-time employment nation. While the trend towards increasing part-time employment as a proportion of the total has been with us since the 1970s, the … Read the rest of this entry »

Posted in Labour costs, Labour Force | 15 Comments

When Britain went fiat and the skies remained above

A former student sent me an E-mail recently and updated me on his progress and his current research project – the history of British banking in the 19th century. He also wanted to draw my “attention to a little known … Read the rest of this entry »

Posted in Britain, Central banking, UK Economy | 12 Comments

The British reality defying the ideologically-based gloom and doom

I last wrote about the aftermath of the June 2016 Brexit vote in this blog – Mayday! Mayday! The skies were meant to fall in … what happened?. Admittedly, it was written just a month after the vote and so … Read the rest of this entry »

Posted in Britain, UK Economy | 10 Comments

Poor fiction from the OECD – the organisation should be abolished

In assessing the role of the multilateral international institutions such as the IMF, the World Bank, and the OECD, one has to have an idea of what their purpose is. The IMF was created to provide funding support to nations … Read the rest of this entry »

Posted in Economics, Fiscal Statements | 16 Comments