Category Archives: Economics

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

When mainstream economists jump the shark and lose it completely

There was an Op Ed last week from an Australian academic who attacked Modern Monetary Theory (MMT) along the lines that its proponents are “a bunch of cranks” and practice “charlatanism”. He also considers us to be sellers of “snake … Read the rest of this entry »

Posted in Economics | 11 Comments

The Weekend Quiz – January 21-22, 2017

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 Economics | Leave a comment

Executive pay bears no relationship to company performance

On December 27, 2016, the British CFA Society (an organisation representing Chartered Financial Analysts) released an interesting report that they had commissioned from academic researchers at the Lancaster University Management School. The Report – An Analysis of CEO Pay Arrangements … Read the rest of this entry »

Posted in Britain, Economics, Labour costs, UK Economy | 3 Comments

Paul Krugman’s ideas are part of the problem

It was always going to happen. Several prominent New Keynesians both in the US and the UK have been hiding behind a smokescreen they erected during the Global Financial Crisis to allow their readers to form the view that they … Read the rest of this entry »

Posted in Economics, US economy | 26 Comments

Performing artists bear the brunt of austerity under neo-liberalism

A regular reader (thanks Sam) sent me some information about the cancellation of performing arts festivals in France as a result of austerity. This accelerating trend, which is worldwide, brings into focus the two pronged attack on workers by neo-liberalism. … Read the rest of this entry »

Posted in Economics, Music | 17 Comments

Mainstream macroeconomics in a state of ‘intellectual regress’

At the heart of economic policy making, particularly central bank forecasting are so-called Dynamic Stochastic General Equilibrium (DSGE) models of the economy, which are a blight on the world and are the most evolved form of the nonsense that economics … Read the rest of this entry »

Posted in Economics | 13 Comments

Australians have plenty of reasons to be ashamed – ODA is one of them

The Australian Federal Department of Foreign Affairs and Trade (DFAT), which oversees the Overseas Development Assistance (ODA) our nation extends to those less fortunate nations released new data last week in the wake of the Mid-Year Economic and Fiscal Outlook … Read the rest of this entry »

Posted in Economics | 8 Comments

It is just ridiculous to starve public investment funding

On Monday (December 19, 2016), my blog – US central bank decision to raise interest rates doesn’t make much sense – examined the recent interest rate hike in the US and made a case that it didn’t appear, on the … Read the rest of this entry »

Posted in Economics | 22 Comments

A lying government pushing economy towards recession and greater inequality

It is highly surreal listening to radio/TV commentators talking about government financial affairs (fiscal balance etc). These so-called experts are paraded before the nation and the script is generally the same. The interviewer who knows virtually nothing but has the … Read the rest of this entry »

Posted in Economics, Fiscal Statements | 12 Comments

Austerity is the enemy of our grandchildren as public infrastructure degrades

The Australian economics media is awash with claims that Australia will likely lose its AAA government bond credit rating next week in the wake of last week’s disastrous GDP figures (negative growth recorded in the September-quarter 2016) and the widening … Read the rest of this entry »

Posted in Economics | 12 Comments