Economy
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Reforming global trade rules for agriculture: The time has come
According to the recent G7 2021 Summit Declaration: “We stand united in our commitment to free and fair trade … with a modernised rulebook and a reformed World Trade Organization.” Nowhere is a “modernised rules book” more needed than for world agricultural production and trade. Without it, the consequences for Australian farmers will be dreadful. Continue reading »
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“No one is safe”: phone numbers of 14 world leaders on Pegasus List
The Washington Post on Tuesday revealed that three presidents, 10 prime ministers, and a king are among the more than 50,000 individuals whose phone numbers appeared on a leaked list of potential targets of Pegasus, the military-grade spyware licensed by Israeli firm NSO Group, prompting human rights defenders to call for a global crackdown on the surveillance industry’s invasive technologies. Continue reading »
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Why do some wealthy people leave money on the table by not buying private hospital insurance?
One in three high-income earners choose not to take out private hospital insurance, even though they could save money by avoiding the Medicare Levy Surcharge. A reason behind this decision is that these individuals are happy to use public hospitals. This suggests that people may be unaware that they are being financially penalised on their Continue reading »
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RBA Governor’s wages-immigration bomb and how he got it wrong.
RBA Governor Philip Lowe’s speech last week on the Labour Market and Monetary Policy set off a frenzied debate on the impact of immigration on wages. Continue reading »
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We should thank the unemployed for their service. They’ve been used to control inflation
I want to show you something. It has to do with our economy and it’s probably been invisible to you. The majority of journalists have no idea about it and few politicians would, either. But it affects everyone and it shouldn’t be something only economists know about. Continue reading »
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Coalition protects wealthy retirees’ investments under cover of Covid-19 pandemic
The Coalition moved to protect the superannuation of Australia’s wealthiest retirees at the same time it was encouraging the nation’s poorest to raid their retirement accounts. And they continue to protect the wealthiest even though the Australian share market is back at record highs. Continue reading »
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Saturday’s good reading and listening for the weekend
What people in other forums are saying about public policy Continue reading »
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The Intergenerational Report: helpful, but so much less than it could be
Since the 2021 Intergenerational Report (IGR) was released the media has been bombarding us with its “predictions” and “forecasts”. Just take The Australian’s front-page headline ‘Economic snapshot warns of disaster if we don’t act now’, with the first line reading, “Australians’ average incomes will be $32,000 lower”. Or think of Paul Kelly’s header, ‘Australia sleeping Continue reading »
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Saturday’s good reading and listening for the weekend
What people in other forums are saying about public policy Continue reading »
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Kalbar’s exotic minerals mine puts the nation’s food supply at risk
A mineral sands mining proposal on rich Victorian farmland is putting the country’s food supply at risk. Will the Labor Government back big money over big farmers, and fail to protect heritage listed wetlands? Continue reading »
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G7 declaration and WTO reform: war or peace?
Cordell Hull, winner of the 1947 Nobel Peace Prize, wrote “removing trade barriers would go a long way toward eliminating war”. More recently Donald Trump stated, “trade wars are good, and easy to win”. With a degeneration of the trading system and debilitating obstacles facing Australian exports to China, we are told “the drums of Continue reading »
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Is the expanding medical workforce meeting changing community needs?
After around 20 years of expansion in medical workforce supply (Geffen, 2014), what are the key issues facing the medical workforce today? When producing more doctors, it is essential to ensure the additional doctors are used to meet the population need for healthcare, rather than reinforcing a paradox of overtreatment and overdiagnosis for some of Continue reading »
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Australia’s infrastructure plans: why can’t we get it right? Thorough inquiries are needed.
Recent reports confirm severe problems with plans for transport infrastructure in at least Australia’s two biggest cities. The Commonwealth, as well as State Governments, is blameworthy. Continue reading »
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Saturday’s good reading and listening for the weekend
What people in other forums are saying about public policy Continue reading »
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Jobs versus climate
A debate between having a job and acting on climate change is painful for everyone involved and will not end well. Yet the absence of a clear narrative from our political leaders to clarify the issue is leaving many Australian communities in exactly that position. Continue reading »
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Do free markets still beat central planning?
Institutional arrangements are complex systems, shaped by history, geography, and culture. The objective should not be to identify a one-size-fits-all approach, but rather to devise the combination of characteristics that would deliver the greatest good for the greatest number of people, with the right checks and balances. Continue reading »
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Who just gives away billions? Is this what the Collaery case is all about?
Many of us have heard about the prosecution of Bernard Collaery on the say-so of Christian Porter. But very few know much more than that it is an almost secret trial against the former ACT Attorney-General. Unfortunately, John le Carré is no longer with us to tell this intriguing tale. Continue reading »
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Mice and men: the mouse plague and aggressive land clearing
Over the years, Australian authorities have made many poor decisions about allowing the introduction of biocidal agents into the environment. In most cases, such decisions have been based on the demands of powerful minorities with no responsibility to the general community. The Berejiklian-Barilaro government looks set to outdo them all by authorising the use of Continue reading »
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Saturday’s good reading and listening for the weekend
What people in other forums are saying about public policy. Continue reading »
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Should Labor oppose the Government’s Stage 3 Income Tax Cuts?
Australia faces a choice between demands for lower taxes, and raising the revenue needed to fund essential services. This article suggests how a plan to increase taxation revenue could be presented at the next election, starting with ditching the Government’s Stage 3 income tax cuts. Continue reading »
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People movement during Covid and emergence of a growing and permanent underclass
While Prime Minister Morrison initially told temporary entrants in Australia to go home, relatively few followed his instruction. His Government’s new message to these people is to stay and work in largely unskilled jobs. This ignores the long-term consequences of a growing and permanent underclass that will have to be dealt with after the election. Continue reading »
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Radioactive trash – a tale of two Sydney suburbs
Australia is relatively clear of nuclear reprocessing waste problems. But the Sydney suburbs of Hunters Hill and Barden Ridge have radioactive wastes from uranium processing which have been sitting there for decades. A bill is now before the Senate addressing the issue. Continue reading »
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Saturday’s good reading and listening for the weekend
What people in other forums are saying about public policy Continue reading »
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Australia’s fundamental fiscal dilemma
This was a big pump-priming budget. The maximum deficit as a proportion of GDP is 7.8% which makes the deepest deficits of the Rudd (4.2%) and Whitlam (2.8%) governments look modest. It discards the government’s pre-pandemic commitment to return to surplus. Of the $92 billion of new spending over the next four years, two-thirds is Continue reading »
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When should government debt be repaid and how?
There is no problem financing government debt. As the debt can only be repaid by running budget surpluses, debt reduction should start in mid-2023 when the Treasury is forecasting that economic recovery will be complete and there will be no spare capacity. Continue reading »
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Prosthesis pricing is a dead parrot
Hidden in the 2021-22 Budget papers was an announcement that the government had squibbed an opportunity to reduce private health insurance premiums by ending a protection racket involving private device manufacturers and importers, and private hospitals. Continue reading »
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Road pricing must start with electric vehicles
Electric vehicles provide an opportunity to introduce road pricing reforms, but ‘clean air tax’ lobbyists threaten to embed poor road-use habits. Continue reading »
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Saturday’s good reading and listening for the weekend
What people in other forums are saying about public policy Continue reading »
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How good is the 2021 Budget?
The 2021 Budget continues the Government’s good work in minimising the impact of the Covid recession and promoting economic recovery. However, the Government could still do better in setting up Australia for the future and guaranteeing essential services. Continue reading »
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Will we ever see a socially responsible budget?
They might be calling it the Women’s Budget, but the way I read it this budget attempts to appear to be in the public interest but it’s actually aimed squarely at the private sector. Funding allocated to target women’s needs is actually designed to give money to providers of services that employ mainly women and Continue reading »
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