Category Archives: economics

Theoretically wrong

Dr Geoff Davies, keen to crack on with solving the world’s problems, makes a critique of neoclassical economic theory, seeking to explain why the results of its application are so bad (see previous post on this subject). His second post … Continue reading

Posted in economics | Tagged , , | 15 Comments

Hopelessly wrong

‘Hopelessly wrong’ is a great phrase. So wrong that there is simply no hope whatsoever of ever being right; a wrong so profound that one might as well despair. The phrase features in the title and body of a recent … Continue reading

Posted in economics | Tagged , , , , , | 8 Comments

It’s almost too easy

Sometimes I wish the Sydney Morning Herald letters page allowed comments, as they do on some articles and opinion pieces. Sure, you can submit a reply, but there’s no guarantee of being published, and the discussion can go no further … Continue reading

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Good news

It’s that time of the semester, so I have been somewhat remiss in noting some good news stories recently. Here’s a quick rundown of some well-known, and not so well-known, examples of the world getting better.

Posted in economics | Tagged , , , , , | 6 Comments

Public loss, private gain – but not where you expected

At the moment, you can’t walk 10 paces down Marrickville Road without seeing one of these: They were paid for by the Marrickville Chamber of Commerce. I hope they didn’t pay too much, because they are just crudely stencilled signs … Continue reading

Posted in economics, local, politics | Tagged , , , , , , | 15 Comments

That looks familiar…

I didn’t watch the Liberals’ campaign launch, but according to the Sydney Morning Herald, Tony Abbott commended the review’s plan ”for lower, simpler, fairer personal income taxes and an end to the money-go-round that traps people in poverty”, with the … Continue reading

Posted in economics, national, politics | Tagged , , , , | 5 Comments

Open thread on capitalism

By popular demand IRL, this thread is for arguments about capitalism. It can mean many things to many people, so to provide a starting point, here is my definition: capitalism – a socio-economic system based on private property rights, with … Continue reading

Posted in economics | Tagged , | 29 Comments

What’s that about simplistic neoclassical models again?

Almost any statistic coming out of China can boggle the mind. In such a huge place, undergoing such rapid change, the sheer numbers in any area of inquiry are almost incredible. Especially to someone from the tiny peripheral nation that … Continue reading

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Where the Australian Greens go wrong

I have voted Green more often than I have voted Labor (I’ve never voted for the party I’m a member of, but that’s because there hasn’t been a candidate in my electorate yet). I do so for a number of … Continue reading

Posted in economics, national | Tagged , , , , , , , , , , , | 49 Comments

Power to the people

I watched a fascinating program on TV last night, a special episode called ‘The Human Power Station’ of BBC program Bang Goes the Theory . They asked a family of four to participate in an experiment, without telling them what … Continue reading

Posted in economics, environment | Tagged , , , | 2 Comments