Why handwringing about population decline is the wrong reaction.
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Ecological reasoning demands perspectives that mainstream economics is designed to obliterate Gregory Daneke “Given the numerous disasters exhibited of late involving Mainstream Economics, various heterodox…
The post Ecological reasoning demands perspectives that mainstream economics is designed to obliterate first appeared on Economic Reform Australia.I spend a lot of my time thinking about global heating, where it’s often hard to be optimistic about the future. But there are some bright spots. In particular, there’s a good chance that 2023 will be the year that coal use finally begins a sustained decline, and relatedly the year the carbon dioxide emissions […]
General Paulo Sérgio alegou "falta de condições" para aterrissagem de helicópteros durante crise humanitária dos indígenas em Roraima.
The post Documentos contradizem versão de ministro da Defesa de Bolsonaro para negar apoio aos Yanomami appeared first on The Intercept.
Outsourced Vodafone HQ cleaners face 'victimisation' after pushing for higher pay while cleaning next to millionaire boss, Josiah Mortimer reports
Don't miss the op-eds from A Cruel and Mendacious Freak!
Let's remove all the manhole covers. What could go wrong?
The transition to a steady-state economy: reply to Michael Keating [1] Mark Diesendorf This article is a response to a previous article by Michael Keating…
The post The transition to a steady-state economy: reply to Michael Keating [1] first appeared on Economic Reform Australia.Seems to be what most of us thought it was before the war ever started: try to replicate Afghanistan in the 80s. Keep Russia tied down till Russia collapses, supplying weapons and letting masses of Ukrainians die, avoiding US casualties. The country will be in ruins and not recover for decades if ever.
There are a few problems with this.
Russia is not the USSR. In many ways the USSR was stronger, but Russia is far more resilient. The USSR had a food deficit, while Russia is a net food exporter: one of the world’s largest. They still have a vast market for hydrocarbons and for their weapons. There is nothing the West can sanction that they must have. This is especially the case because while China and India have pretended to go along with the sanctions, both countries are moving into Russia in a big way to replace the Western businesses which left.
I’ve enjoyed Miriam’s posts on things, little and big, that restore our faith in humanity, so I thought I would share a little hope of my own. I spend a lot of my time thinking about global heating, where it’s often hard to be optimistic about the future. But there are some bright spots. In […]
The debt ceiling limit is destructive, duplicative and dumb Stephanie Kelton In a previous issue of ERA Review we drew attention to the regular saga…
The post The debt ceiling limit is destructive, duplicative and dumb first appeared on Economic Reform Australia.
Treasurer Jim Chalmers has raised the prospect of enshrining an objective for superannuation in law. His promise that this will “end the super wars once and for all” is wishful thinking. read now...The money multiplier – neat, plausible, and utterly wrong Lars Syll The mainstream textbook concept of money multiplier assumes that banks automatically expand the credit…
The post The money multiplier – neat, plausible, and utterly wrong first appeared on Economic Reform Australia.The Australian Bureau of Statistics released the latest – Australian National Accounts: National Income, Expenditure and Product, December 2022 – today (March 1, 2023), which shows that the Australian economy grew by 0.5 per cent in the December-quarter 2022 and by 2.7 per cent over the 12 months. This is a significant decline in growth, which is now insufficient to prevent unemployment from rising over the coming period. Growth is being driven largely by continued (but moderating) growth in household spending. This was augmented by the strong rebound in the Terms of Trade (commodity prices), which helped net exports make a positive growth contribution. There was growth in employee compensation (the wage measure from the national accounts) of 3.2 per cent but that was largely due to administrative decisions (for example, minimum wage increases) that impacted in this quarter rather than being the result of market pressures. Households are now saving less relative to their disposable income in an effort to maintain consumption growth in the face of rising interest rates and temporary inflationary pressures.
A comment on Bernanke’s Nobel lecture James K. Galbraith There is no doubt that Ben Bernanke is a nice fellow, unpretentious despite having held high…
The post A comment on Bernanke’s Nobel lecture first appeared on Economic Reform Australia.The Australian Bureau of Statistics released the latest – Australian National Accounts: National Income, Expenditure and Product, December 2022 – today (March 1, 2023), which shows that the Australian economy grew by 0.5 per cent in the December-quarter 2022 and by 2.7 per cent over the 12 months. This is a significant decline in growth,…
Sustainability and the New Economics: Boundaries which should not be broken Steven Hail Suppose you were an Australian politician, very worried about climate change, and…
The post Sustainability and the New Economics: Boundaries which should not be broken first appeared on Economic Reform Australia.You knew they would I have been convinced for some time that one of the main motivations for the obsession with Hunter Biden is to get Joe Biden to break down in public. I think of it as the “Muskie gambit” which you old duffers will recall was the Nixon dirty trick that made Democratic frontrunner Edmund Muskie cry over a false allegation against his wife in 1972. I think Joe Biden is pretty inured to the stuff about Hunter. But I’m sure they figure that this might work if they go after Biden’s dead son: Comer makes Dan “watermelon” Burton look like an amateur.
Wages growth in Australia was lower than expected prior to COVID-19 based on historical determinants. One possible explanation for this is that employment had become more concentrated among a small number of large employers. This reduced outside options for workers and lowered their bargaining power and wages. This paper examines concentration in Australian labour markets and its impacts on wages
using a large and representative database derived from administrative tax data. Labour
markets have not, on average, become more concentrated over time. However, the impact of
any given level of concentration has increased since the 2010s. This may help explain
surprisingly low wages growth pre-COVID, despite labour market concentration having
remained constant. Simple back-of-the-envelope estimates suggest that the greater impact
of concentration may have lowered wages by a little under 1 per cent on average between
2011 and 2015. Declining firm entry and dynamism appear to have contributed to the increased impact of
concentration, and lower wages growth, by lowering competition for labour among
incumbent firms.
The Australian Banking Association is refusing to answer questions over a breach of the Code of Practice pertaining to access for the disabled. read now..."It amuses us. That's all"
