As the great bulge of babies born after World War II has moved through their life course, the world has changed to suit them and their needs. (more…)
Ross Gittins
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The RBA says changing rates won’t raise house prices. I wouldn’t be so sure
The Reserve Bank has always denied that its manipulation of short-term interest rates to slow or hasten the growth in demand for goods and services plays any part in worsening the cost of home ownership. But I doubt this. (more…)
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Trump says climate change is a hoax. Are we in safer hands with the ‘commos’?
When you hear that malevolent old fool Donald Trump tell the United Nations that climate change is “the greatest con job ever perpetrated on the world”, it’s hard to resist throwing up your arms in despair. If mighty America won’t set a good example, what hope is there for the rest of us? (more…)
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Seeking the positive-sum economy where everyone wins a prize
What is this “abundance” thing that progressive economists are suddenly banging on about after reading the latest American pop economics book? At last, one of them has explained it. (more…)
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More Boomers are choosing not to retire. Why? They don’t want to
As the great bulge of babies born after World War II has moved through their life course, the world has changed to suit them and their needs. (more…)
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Albanese takes his usual each-way bet on climate change
After last week, Anthony Albanese and his Climate Change Minister Chris Bowen are entitled to a great sigh of relief. (more…)
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AI: Much ado about something that one day may be important
AI. AI. AI. Maybe if I utter those magic initials one more time, you’ll reach peak ecstasy. Worried about our lack of productivity? Fear not. The economy will soon be rocketing ahead. (more…)
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We’re going up in the financial world, but no one’s noticed
Economists like us to think they’re coolly rational in all things. Nah. They’re just as susceptible to fads and fashions as the rest of us. (more…)
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Our future prosperity is bright. We’ve hidden an ace up our sleeve
As you may have noticed, the nation’s economists are in a gloomy mood and warning of tough times ahead. (more…)
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Why we’d be mugs to cut the company tax rate
Ask any businessperson if we should cut the rate of our company tax and, almost to a pale and stale male, they’ll unhesitatingly tell you we should. (more…)
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The one big reform not discussed at Labor’s roundtable
Despite the strong support for tax reform at last month’s economic reform roundtable, perhaps the most important single reform hardly rated a mention: a carbon tax – or, in the economists’ preferred euphemism, “a price on carbon”. (more…)
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We have arrested the development of our young
I hope you’re not among those silly people who concluded last week’s economic reform roundtable was just a talkfest that will lead to nothing concrete. Breaking news: we have to get together and talk about things before we agree on what our biggest problems are and what we will do about them. (more…)
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I’ve changed my mind about red tape, but cutting it won’t solve everything
This is the week to understand something most people don’t: businesses don’t do productivity. (more…)
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Albanese is crying poor, but we’re losing billions a year from untaxed gas
It’s likely much will be said, but little done, at next week’s economic roundtable. (more…)
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It’s official: A cut in company tax will deliver little benefit at best
Be sure your dodgy modelling will find you out. I’m starting to think economists have become so used to pretending to know more about the economy than they really do, that they don’t notice the way they mislead the rest of us. (more…)
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Roundtable will fix nothing unless we can all park our self-interest
I’m not sure if it’s happening by accident or design, but we may be about to convince ourselves that, though our democracy isn’t nearly as stuffed up as America’s, we’re fast making ourselves ungovernable, unable to agree on how to fix our problems. (more…)
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Roundtable warning: When they say ‘modelling’ grab your bulldust detector
The warm-up for next month’s three-day economic roundtable has begun, and this week we’ll start hearing from worthies who know exactly what we should do to improve our productivity. What’s more, they have the modelling to prove it. (more…)
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Cutting HECS debt is the least Albanese could do for young Australians. He should do more
It may seem an age since the federal election, but the new parliament has just convened for the first time. Anthony Albanese will be giving top priority to enacting his election commitments – “an honest politician? Really?” – and starting with his promise to cut uni graduates’ HECS debt by 20 per cent. (more…)
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How Chalmers can square the budget circle despite stagnant productivity
As if Treasurer Jim Chalmers didn’t have a big enough problem trying to improve the economy’s productivity, we now know Treasury has privately reminded him he’ll need to find additional tax revenue and reduce government spending to keep the budget “sustainable” – that is, to stop the government’s debt getting a lot higher. (more…)
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Trump wants us to spend a bomb on defence. We should think twice
While I was on holiday, I had a kind of nightmare: suddenly, every rich country in the world — including us — is vowing to spend many billions more on defence each year. This will cost taxpayers an absolute bomb. Why exactly are we doing this? (more…)
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I have good news and bad about your superannuation
When the government wants to cut back the massive tax concessions the rich receive on their superannuation, the media is full of it for weeks. (more…)
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In one awful decision, Albanese has revealed his do-nothing plan
It didn’t take long for us to discover what a triumphantly re-elected Labor government would be like. (more…)
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Don’t let rich old men tell you the planned super tax is terribly bad
Would you want Australia to become more like America? How on Earth did so many Yanks vote to reinstall a crazy, destructive leader such as Mad King Donald? (more…)
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Why we need our economists to try a lot harder
For most economists, their view of how the world works is virtually unchanged from one decade to the next. They’ve already found the truth, so nothing needs changing.
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It was supposed to be the cost-of-living election. But then Dutton showed up
Talk about the dog that didn’t bark. Cast your mind back to the distant days of the election campaign, and you’ll dimly remember how often we were told that polling revealed the only subject hard-pressed voters were interested in discussing was the cost of living. (more…)
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Dutton’s election campaign rout lets RBA off the hook
Reserve Bank governor Michele Bullock must be breathing a quiet sigh of relief now the Albanese Government has been triumphantly returned to office. If you can’t think why she should be relieved, you’re helping make my point. (more…)
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The climate won’t change for the Liberals without more women and fewer oldies
If the Liberals have any sense, they won’t waste too much time blaming their shocking election result on Peter Dutton, Donald Trump, Cyclone Alfred, the party secretariat, an unready shadow ministry or any other “proximate cause”, as economists say. Why not? Because none of these go to the heart of their party’s problem. (more…)
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Home truths: Housing policies are for show, but one side at least gets the problem
If you think this sounds twisted, it is. The best thing about the two sides’ various promises to help young people afford to buy their first home is the way it has provoked the nation’s economists to rise in condemnation of those schemes’ wrongheadedness. They look like they’ll help, but most of them are more likely to end up making homes less affordable rather than more. (more…)
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Memo Dutton: Good economic managers don’t try to panic the punters
A problem in economics is that you can’t use the economy to experiment. (more…)
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Trump’s trade war is bad, but how bad is up to the rest of us
At last, we know enough about US President Donald Trump’s opening move on tariffs to start thinking about what it all means. By imposing tariffs on America’s imports, he’s shot his economy in the foot, but the rest of the world decides how bad it’s likely to be by what we do in response. (more…)