Category Archives: Economics

The catch-all category for my blogs reflecting my professional expertise as a full professor of economics.

The Balanced Budget silly season is upon us again

Wasn’t Chuck Norris the muscle-bound guy with big guns and stuff who blasted the hell out of people and causes a lot of havoc? Well, apparently, he thinks he knows something about macroeconomics. In an article in the right-wing conservative … Read the rest of this entry »

Posted in Economics | 14 Comments

Don’t mention the war! er the Troika …

“Don’t mention the war”! was a classic line from the episode – The Germans – in the comedy Fawlty Towers. Basil Fawlty implored his meagre staff to stay silent in case they offended some German tourists staying at his hotel. … Read the rest of this entry »

Posted in Economics, Eurozone, UK Economy | 32 Comments

Employer group demands free labour from Government

Last week, the peak body representing small business in Australia, the Australian Chamber of Commerce and Industry (ACCI) called on the Federal Government to hand over free labour under the guise that “making coffee” will enhance the skills of the … Read the rest of this entry »

Posted in Economics | 6 Comments

Recessions can always be avoided and should be

Recessions are very costly events. The income losses come quickly and sustain for several periods after the worst has occurred. Unemployment rises sharply and if government doesn’t take appropriate action (job creation), it takes a very long time to return … Read the rest of this entry »

Posted in Economics | 27 Comments

Henry George and MMT – Part 2

This is the second part in my discussion about Henry George and Modern Monetary Theory (MMT). In general, there is nothing particularly incompatible between the introduction of a broader LVT at the Federal level to replace or reduce other taxes … Read the rest of this entry »

Posted in Economics | 28 Comments

Henry George and MMT – Part 1

I get several E-mails (regularly) from so-called Georgists who want to know how the Single Tax proposal of Henry George, outlined in his 1879 book Progress and Poverty, fits in with Modern Monetary Theory (MMT). I have resisted writing about … Read the rest of this entry »

Posted in Economics | 36 Comments

The Australian government is not akin to a household

There was an extraordinary article published on the University of New South Wales News page (January 29, 2015) by a Professor of Finance (Peter Swan) entitled – Federal finances and family budgets have a great deal in common. Juxtapose that … Read the rest of this entry »

Posted in Economics | 22 Comments

Tracing the origins of the fetish against deficits in Australia

Next week (Wednesday), I am giving the annual Clyde Cameron Memorial Lecture in Newcastle. Details are below if you are interested. Clyde Cameron – was a former Labor government Minister of Labour and other ministries (1972-75), a dedicated trade unionist, … Read the rest of this entry »

Posted in Economics | 13 Comments

Effects of Australian Online Supermarkets and Online Shopping Benefits

No doubt Aussie supermarkets has developed the industry by accelerating the online shopping in recent years. The creation of online shopping sites with different types of exhibiting the products of retailers accounts this situation at most. Everyone is happy about … Read the rest of this entry »

Posted in Economics | Leave a comment

Friday lay day – RBA acknowledges failure of government fiscal policy

Its the Friday lay day blog – and I promise it will be short. Today, we celebrate what would have been the 70th birthday of – Robert Nesta Marley. I wish he was still making music. There is an excellent … Read the rest of this entry »

Posted in Economics | 7 Comments