Category Archives: Economy

MICHAEL KEATING. Economic Strategy for the 21st Century

Traditionally economists have tended to ignore distributional issues. These issues were considered to rest on value judgements, and to therefore be outside the purview of orthodox neo-classical economics. To the extent that distribution did enter the economist’s model, it was … Continue reading

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TED TRAINER. The case for de-growth will continue to be ignored.

A de-growth movement has emerged, mainly in Europe, in response to the fact that global levels of production and consumption are now grossly unsustainable. A vast literature documenting this has accumulated over almost fifty years.  But the official world of … Continue reading

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IAN McAULEY.  How Peter Dutton and Kelly O’Dwyer set themselves up to look ridiculous.

A year ago, when the Turnbull Government had been dragged into setting up a commission on the finance sector, Peter Dutton and Kelly O’Dwyer relished the thought of exposing bad behaviour in the union-dominated industry superannuation funds, even though it … Continue reading

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LAURIE PATTON. It’s poor planning, not the size of the population, that’s the problem

As Christopher Pyne has pointed out, “We don’t need to put a handbrake on population growth, we need to manage our population growth sensibly in a country which quite frankly can take a lot more than 25 million people”. Pyne … Continue reading

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ERIC SIDOTI. Let the Privatisation Games Begin

Privatisation has been the source of ongoing debate in this country since at least the 1980s. For much of the intervening years though to question the virtues of privatisation – and the accompanying sanctification of competition and choice- has been … Continue reading

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JACK WATERFORD. Frydenberg will pick up the election bill (Canberra Times 16.11.2018)

If I were a Labor warrior, thinking cautiously ahead about political warfare from mid-2019 – after Labor had taken government – I might be judging that no present preparation could repay the investment more than a very strong focus on … Continue reading

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JOHN KERIN.   Trump Economics.

Not being aware of what is being written in economic journals by the profession I find it difficult to understand why more of our commentating economists and academic economists are not publicly calling out Trump’s economic policies. Are we to believe … Continue reading

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MARC STEARS. Don’t give up on politics. It’s where the fight for the fair go must be won (The Conversation).

This article is the third in the Reclaiming the Fair Go series, a collaboration between The Conversation, the Sydney Democracy Network and the Sydney Peace Foundation to mark the awarding of the 2018 Sydney Peace Prize to Nobel laureate and … Continue reading

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PAUL O’CALLAGHAN. For Caritas Australia, bankrolling the Pacific misses the mark.

At Caritas Australia we have long been in the business of supporting the grassroots development of our Pacific neighbours.

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IAN McAULEY. Watch for Morrison’s next round of economic impression management.

Before Christmas the Government will produce the Mid-Year Economic and Fiscal Outlook. It’s a fair bet that it will reveal a small cash surplus for this year, giving Morrison an opportunity to brag about the Coalition’s economic expertise. But this … Continue reading

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CHRIS MILLS. Australians’ Choice: A Wasted Hourglass or Golden Egg Economy?

These simplifying images of Australia’s future Federal, State and Territory economies have been deliberately chosen to be evocative and provocative.  Our stark choice is to continue to pursue the Neoliberalism ideology that is failing so many ordinary Australians, of take … Continue reading

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ROSS GITTINS. Our oldies have never had it so good (SMH 5.11.2018)

Don’t let anyone tell you Scott Morrison is out of touch. When he says that, if he had the money, he’d increase the age pension rather than the dole, he’s reflecting the views of most older Australians. Everyone knows it’s … Continue reading

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EVAN JONES. Systemically corrupt capitalism.

Capitalism has been analysed to death in academia and elsewhere. Thus we know that capitalism is structurally conducive to exploitation, to the production and reproduction of class-based inequality, to the degradation of nature, and so on. Such analysis is of … Continue reading

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BRENDAN COATES, JOHN DALEY, TONY CHEN. Abolish stamp duty. The ACT shows the rest of us how to tax property.

This week we’re exploring the state of nine different policy areas across Australia’s states, as detailed in Grattan Institute’s State Orange Book 2018. Read the other articles in the series here. This article was published by The Conversation on the … Continue reading

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LATIKA BOURKE. Forget Barnaby Joyce’s affair – this is why he should not return to the leadership

Although Barnaby Joyce’s name is not mentioned, it is his legacy that informs Philip Moss’ damning report into the Department of Agriculture’s performance as the regulator of the live exports industry. 

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JOHN DALEY, BRENDAN COATES, TONY CHEN. To make housing more affordable this is what state governments need to do.

This week we’re exploring the state of nine different policy areas across Australia’s states, as detailed in Grattan Institute’s State Orange Book 2018. Read the other articles in the series here. This article was published by The Conversation on the … Continue reading

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JESSICA IRVINE. Labor’s housing tax changes will help cure our property addiction (SMH 1.11.2018)

It seems a requirement of modern political scare campaigns that they be not only breathless, but logically inconsistent. And so it is with the mounting fear campaign being waged against Labor’s policy to, if elected, reform the tax treatment of investment … Continue reading

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JOE ROACH. Inequality-A case of wood and trees.

Economists love data. For some it is a case of the more the merrier….or, at the least, the more data the more articles than can be published. Whether this contributes much to the overall good is doubtful. When it misleads … Continue reading

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RICHARD HOLDEN. The best way to boost the economy is to improve the lives of deprived students. (The Conversation 25.10.2018)

What if we had an opportunity to double the size of the tourism industry, or to quadruple the size of the beef industry, or to boost the economy by more than any of the presently proposed tax switches?  What if we … Continue reading

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ROSS GITTINS. World growth a toxic danger for the environment. (SMH 27.10.2018)

If the world’s population keeps growing, and the poor world’s living standards keep catching up with the rich world’s, how on earth will the environment cope with the huge increase in extraction, processing and disposal of material resources?  

Posted in Economy, Environment and climate | 1 Comment

MICHAEL KEATING. Privatisation: When does it work, and when doesn’t it work?

Opponents of privatisation accuse it of being a key part of neo-liberal ideology. But blanket opposition to privatisation seems to me to be equally ideological. Instead, privatisation should be considered on a case-by-case basis. Accordingly, this article discusses the criteria … Continue reading

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IAN McAULEY. The finance sector – value creation or value extraction?

The Government and the finance sector would have us believe that the finance sector makes a valuable contribution to our economy. But is it simply a bloated overhead? Economist Mariana Mazzucato, who will deliver the second John Menadue Oration in … Continue reading

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BRAD CHILCOTT. The deck is stacked against average Australians

Corporations exist to deliver profits to their shareholders. Unions exist to deliver fair wages, access to benefits like annual and sick leave to workers and to ensure workplaces are safe for all employees.

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ROSS GITTINS. Tax reform is pushed by rich males, for rich males (SMH 24.10.2018)

I know it’s a shocking thing for an economics writer to confess, but I’ve lost my faith in the Search for the Golden Tax System. I no longer believe that reforming our tax system is the magic key to improving … Continue reading

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JOHN MENADUE. Privatisation is a clear example of the failure of neoliberalism.

Neoliberalism puts markets and companies before society and the public interest. That is why after 23 successive years of economic growth there is a widespread sense that the economy is working for a privileged few  and at the expense of … Continue reading

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MICHAEL KEATING. The Future Demands for Government Revenue

At The Australia Institute’s Revenue Summit on Wednesday I presented a paper that showed that the Federal Government’s future economic and budget forecasts are most likely wrong. Instead, I showed why a modest increase in the ratio of revenue to … Continue reading

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HENNY SENDER. The weaponisation of the dollar risks rebounding on the US.

One consequence of the America First policies will be to create a bipolar financial world. 

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RICHARD DENNISS. Trump’s tax cuts will increase inequality. Australia shouldn’t follow his lead.

The fiscal policies of conservatives like Trump and Scott Morrison are eating away at the fabric of society. 

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‘Divisive’: Former RBA governor Bernie Fraser turns on neoliberalism (the New Daily, 17.10.18)

Former Reserve Bank governor Bernie Fraser has called for a radical rethink to policy-making, saying the way to a fairer, more equal society is with a pragmatic approach.

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MICHAEL KEATING. The Change from Turnbull to Morrison: What Difference has It Made?

Now that Scott Morrison has passed the fifty-day landmark as Prime Minister, this article considers what has changed since the demise of Malcolm Turnbull and what difference Scott Morrison will make in resolving the major policy challenges that Australia is … Continue reading

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