Tag Archives: economics

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

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Levantine blood feud, part MMXXXIV

As I type this, a motley group of  ships are sailing from Cyprus towards the Gaza Strip in an effort to deliver 10,000 tonnes of supplies, in direct opposition to Israel’s blockade of the territory. The blockade has been in … Continue reading

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Save the environment, give it a market price

An old insult directed against economists is a reprise of Oscar Wilde’s pithy putdown of cynics – they know the price of everything, and the value of nothing. Like so many glib one-liners, it is both manifestly unfair and hinting … Continue reading

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Just say no… to the war on drugs

What would you do with $1 trillion? Don’t answer too quickly, lean back and think about it for a while. Physically, using the highest-value banknote I know of (the €500 bill that will be excluded in Britain due to its … Continue reading

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I’m no Lord Kelvin, but I try

A long time ago I read a thoughtful critique on orthodox economics, and while I can’t do justice to the argument presented by the author (I can’t even remember who the author is!), what stuck with me was a line … Continue reading

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The Stilwell Manifesto

Those of you who have read my blog for a while might recall I wrote an incomplete critique of Frank Stilwell’s Who Gets What?, a book that analyses income and wealth inequality in Australia. Coincidentally, I’m currently doing a summer … Continue reading

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Poverty and trade revisited

The anniversary of this blog passed by without me realising it. In belated celebration, I’m re-printing the post that started the whole thing below the fold. It’s my attempt to persuade left-wingers that they should support free trade if they … Continue reading

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Competition. It works, bitches.*

I’ve long extolled the benefits of companies competing for consumers’ business. According to orthodox economics, it reduces prices, and therefore profits, and thus shifts the division of the economic surplus towards consumers. Competition is generally a Good Thing. Unless you’re … Continue reading

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Higher pay for MPs

Well, technically speaking it’s an increase in their electorate allowance, but anything left over at the end of the year is treated as personal income, so it’s not surprising that MPs consider it “a de facto part of their salary”. … Continue reading

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Who Gets What? Part 2

For background, see Part 1.

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