Thursday, 30 June 2022

Around the Traps 1/7/22

 It is time for Around the Traps.

Aussie,Aussie,Aussie,Oy,Oy,Oy

Northern America

Europe

Asia

Wonk

General

Climate

Andrew Gelman ( mainly stats)

Econometrics

Dianne Coyle ( quirky + book reviews)

Vox Wonk

Tuesday, 28 June 2022

The economics of Brexit

 A great new e-book on the economics of brexit.

I could never understand how creating trade barriers when there were none was good for a country.

Monday, 27 June 2022

The US Supreme Court is a disgrace

 you might think I am criticising them over roe V wade. you are wrong. The only problem here is the various justices lying to congress on that very decision.

No I am up in arms about THIS. It is a disgrace. Add to that decisions on gun control, voting rights and even Miranda rights in future and do the so called conservative judges realise just how low they are held by the general public?

Of all the institutions in a democracy the highest court in the land is the most important. when people lose respect for that institution it is a vary bad thing for democracy. See Zack Beauchamp.

Sunday, 26 June 2022

A wages breakout is boomer fantasy land

 I am in complete agreement with Ross Gittins and to some extent Sally McManus.

Australia is at full employment and real wages are falling! In the 1970s Australia was much more unionised than it is now. It had a centralised wage bargaining system. 

Few people are now in unions and are mostly employed in the public sector. If employees cannot get a real wage rise when we are at full employment and low inflation how in the hell are they going to get a real wage rise when interest rates are rising and inflation is also on the rise?

It is all much ado about nothing.

Thursday, 23 June 2022

Around the Traps 27/6/22

 It is time for Around the Traps.

Aussie,Aussie,Aussie,Oy,Oy,Oy

Northern America

Europe

Asia

Wonk

General

Climate

Andrew Gelman ( mainly stats)

Econometrics

  • nuttin

Dianne Coyle ( quirky + book reviews)

Vox Wonk

Wednesday, 22 June 2022

Should we nationalise electricty?

 John Quiggin asks the-national-electricity-market-is-a-failed-1990s-experiment-its-time-the-grid-returned-to-public-hands.

I am sympathetic to this argument in theory. Privatising an essential good was madness to me and the evidence is in. It hasn't worked. electricity prices are higher than otherwise would be. It is disappointing that institutions such as the Productivity commission cannot even admit they made a mistake when they champion privatisation.

However in practice you cannot uncook an omelete. No State Government is going to spend money to buy back electricity assets.

On a related topic here John says now-is-the-perfect-time-to-increase-coal-royalties-to-fund-australias-energy-transition