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Category Archives: Economy
MICHAEL KEATING. This election offers a very real choice. Part 2
In a previous article (posted yesterday) I compared the Coalition and Labor fiscal plans. The credibility of these plans, as well as their value, depends significantly on whether the underlying economic parameters upon which the plans are based are sound, … Continue reading
Posted in Economy, Politics
2 Comments
MARK CROSYBY. Trick question: who’s the better economic manager? (The Conversation)
In 1995 I co-authored a paper with Diane Brown and Louise Malady which examined economic outcomes under Labor and Liberal governments in Australia to that time.
MICHAEL KEATING. This election offers a very real choice. Part I
The two major issues in this election are climate change and the economy and cost of living pressures. In both cases the two major parties are offering very different strategies. In these two articles I will focus on the economic … Continue reading
MICHAEL PASCOE. Hey PM, you’re either lying or ignorant about the RBA’s forecasts. (New Daily, 12.5.2019)
Prime Minister Scott Morrison is either desperately lying or ignorant about the Reserve Bank seriously downgrading Australia’s economic outlook – a downgrade that could easily wipe out the government’s “back in black” surplus claim.
SATURDAY’s GOOD READING AND LISTENING FOR THE WEEKEND
A regular collection of links to writings and broadcasts in other media
Posted in Economy
2 Comments
ELIZABETH SAVAGE. It’s hard to find out who Labor’s dividend imputation policy will hit, but it is possible, and it isn’t the poor. (The Conversation 8.5.2019)
Labor’s proposal to end cash refunds of unused dividend imputation credits is highly targeted.
CHRIS MILLS. Powering electric vehicles with ‘‘Swap-n-go” power packs
In Australia, a minuscule 0.3% of vehicles have electric propulsion, notwithstanding that those acknowledging the reality of anthropometric Global Warming recognise that transportation is the largest emitter of greenhouse gases. Possible reasons for resistance to electric vehicle purchase include high … Continue reading
Posted in Economy, Environment and climate
3 Comments
MARTIN WOLF. The politics of hope against that of fear (Financial Times 1.5.2019)
Charismatic politicians entice disillusioned people into giving them support. Some of those politicians are would-be despots. Others are scoundrels. Yet their siren songs are enticing.
SATURDAY’s GOOD READING AND LISTENING FOR THE WEEKEND
A regular collection of links to writings and broadcasts in other media
Posted in Economy
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IOLA MATTHEWS. Bridging the gender pay gap, one case at a time (Sydney Morning Herald 26 April 2019)
The path to more equal pay for women is one issue that could be significantly affected by the result of the forthcoming federal election.
Posted in Economy
Comments Off on IOLA MATTHEWS. Bridging the gender pay gap, one case at a time (Sydney Morning Herald 26 April 2019)
SATURDAY’s GOOD READING AND LISTENING FOR THE WEEKEND
A regular collection of links to writings and broadcasts in other media
Posted in Economy
2 Comments
JOCELYN PIXLEY. The Coalition’s Terms on Hayne’s Commission
When Morrison says, ‘Labor cannot manage money’, he must deny banks’ large-scale 2007-2011 crises – GFC – an outcome of Liberals’ mismanagement of money. Incoming Labor reversed looming depression in a brilliant world-first. The myth, john-menadue-the-myth-that-the-liberals-are-better-economic-managers/ P&I, relies on crucial cover–ups. Some are … Continue reading
Posted in Economy
2 Comments
JOHN MENADUE. Jobs at Adani or on the Great Barrier Reef.
There are very strong grounds for Australia to phase out the mining of steaming coal as soon as possible and certainly not to promote new coal projects such as Adani. Our planet is increasingly at risk. Protecting the Great Barrier … Continue reading
Posted in Economy, Environment and climate
4 Comments
IAN McAULEY. Don’t be distracted by the Coalition’s promise of a budget surplus
A government’s budget surplus or deficit is meaningless unless it’s carefully interpreted and is seen as only one of many indicators of a government’s economic competence. There’s nothing intrinsically good about a budget surplus.
GREG JERICHO. The Coalition boasts about economic management. Where’s the evidence? (The Guardian 16.4.2019)
This is the only government since Fraser’s that hasn’t presided over an improved standard of living.
IAN McAULEY. Surely Morrison isn’t seriously asking us to trust him
Morrison’s words are a plea to trust his government, but his tactics seem to be aimed at spreading mistrust, not only of Labor but also of democratic institutions more generally.
Posted in Economy, Politics
4 Comments
SAM BYFORD. Huawei chairman accuses American critics of hypocrisy over NSA hacks (The Verge 27.2.2019)
Huawei’s rotating chairman Guo Ping has gone on the offensive this week at Mobile World Congress, following continued pressure on US allies to drop the Chinese telecoms giant over national security fears.
SUSAN RYAN. Older women are budget losers.
The 2019 budget contains little to improve the circumstances of the poorest older women. Increases of 10,000 previously announced home care places are provided for. An extra 13,500 residential places were provided. A new $8.4 million is allocated to mandatory … Continue reading
Posted in Economy
2 Comments
GEOFF HARCOURT. Sluggish Wages Growth
Recent comments on sluggish wages growth in Australia trace their origins back to the Accord introduced in the early 1980s. It is also argued that the Accord was a precursor to the introduction of the neo-liberal era in Australia. I … Continue reading
Posted in Economy
2 Comments
JOHN MENADUE The myth that the Liberals are better economic managers?
Scott Morrison in today’s announcement of the election date said once again that ‘Labor cannot manage money’ In an earlier post I argued that the economy is a means to an end. It is not an end in itself. The … Continue reading
Posted in Economy, Politics
8 Comments
JOHN MENADUE. The economy is a means to an end. It is not an end in itself.
Bill Clinton said ‘it’s the economy, stupid’. He was wrong, although in later years he spoke more wisely about ‘putting people first’.
Posted in Economy, Politics
2 Comments
JOSEPH STIGLITZ. GDP is not a good measure of wellbeing – it’s too materialistic (Project Syndicate)
Just under 10 years ago, the National Commission on the Measurement of Economic Performance and Social Progress issued its report, Mismeasuring Our Lives: Why GDP Doesn’t Add Up. The title summed it up: GDP is not a good measure of … Continue reading
Posted in Economy
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MICHAEL KEATING. The Budget: Part 2
The Budget is the most comprehensive statement of a government’s priorities. It is the Budget that tells us specifically where the government intends to spend and how it intends to pay for that expenditure. In this article, I will seek … Continue reading
Posted in Economy
2 Comments
JIM STANDFORD. Wages: Oops, They Did It Again! (The Australia Institute)
You would think that after 5 consecutive years of wage forecasts that wildly overestimated actual experience, the government might have learned from its past errors – and published a wage forecast more in line with reality. But not this government.
Posted in Economy
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ABUL RIZVI. Dodgy Population Assumptions Crucial to Budget Figuring.
Ken Henry was forever explaining economic growth, and consequently the strength of the budget, is a function of productivity, participation and population. With the weak productivity growth of recent years likely to continue, the population and labour participation assumptions become … Continue reading
Posted in Economy
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MICHAEL KEATING. The Budget: Part 1
The Budget provides the opportunity for the Government and the Opposition to outline their respective economic strategies and their relative priorities. Interestingly, while there are significant differences between the two major political parties, there are also important similarities; probably … Continue reading
IAN McAULEY. A budget to entrench economic vulnerability
Even from a “what’s in it for me” viewpoint, the budget is a failure, because tax cuts would soon be wiped out by higher charges for education, health care and transport. More importantly it does not address structural weaknesses in … Continue reading
Posted in Economy, Politics
4 Comments
MICHAEL PASCOE. Frydenberg makes emergency direct deposits. (New Daily 3.4.2019)
The headlines might look pretty, but there’s little substance behind the government’s core budget spends.
Posted in Economy, Politics
3 Comments
DANIELLE WOOD. Intergenerational theft. (The Conversation).
The tens of thousands of young people who were protesting at the school climate strike two weeks ago know that they are being left a stinking great environmental mess to clean up. But I suspect that many are yet to … Continue reading
Posted in Economy
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JOHN KERIN. Wage compression and its wider implications, economic and political.
All macro-economic variables relate to one another. The economic growth rate, monetary and fiscal policy, budgetary policy, business profitability, investment, taxation (and the avoidance and evasion of tax), the wage rate, transfers and trade balance all interact and adapt to … Continue reading