Productivity

 Beware I am going to rant.

productivity is a very hard subject. It is hard to measure, it is hard to see in data and sometimes the data goes against your own biases.

Measuring it is very hard and in certain sectors it is impossible particularly in the non-market sector. How do you measure productivity of a doctor, teacher, nurse etc.

Generally most people agree multi-factor productivity is the way to go BUT it aint timely!

Firstly if I go to my Marxist hat the people who have responsibility for raising productivity are capitalists. If they do not p[rofits should fall IF they are in a competitive sector. This means competition policy should be top of the heap for any government. Micro-economics trumps everything in other words.

However if we go back into the past we find problems. A long time ago Roger Douglas was the Treasurer in New Zealand and introduced a lot of micro-economic reform. However as John Quiggin  pointed out at the time Australian productivity was superior to New Zealand's. This did not compute. Related to this is way back in the 80s it was found productivity was superior in  European nations with highly regulated labour markets than in counties that had flexible labour markets. We have found productivity has gone the wrong way as we gained a much more flexible labour marker. 

holy confusion batman.

There are a lot of words written on this topic but we still have no real idea of why it increased and why it stopped in Australia

what is the point with Iran

 The USA now has a lot of offensive power to attack Iran however why would they attack Iran?

We were told the US obliterates Iran's nuclear capabilities so was this true or not?

Another reason is to assist the protesters against the Mullahs who hold actual power yet we are not told how this would be done.

Yet another reason is to destroy Iran's missile capabilities particularly the long term ones.

Then there is how much has Iran built up their defences since Israel and the US attacked them. Clearly the russian weapons turned out to be hopeless last time but we are told the Chinese have leapt into the vacuum with some very good anti-aircraft defenses.

It could well be Trump has let his venezuelan operation go to his head.

We shall see.

It matters not because it will be illegal and the US will only have Israel as an ally.

This is not good for the USA, US or the World!!

I just saw Richard Hass make a very good point. The USA has plenty of bases in the Middle East and they are highly vulnerable to high speed missiles. I can imagine Iran would be thinking the USA would not want to hang around if a lot of US soldiers were killed and for nought. Trump would be pilloried from pillar to post! 

Poor old Andy

 The former prince andrew had the life of riley. He was not that bright but was never going to be King. So he enjoyed everything royalty gave him but simply did  not worry about the responsibilities.

He did not have any money worries ( living rent free is a big asset) and had 'friends' to help him live 'life to the fullest'.

He was also the favourite of the queen showing yet again she was a poor parent. Parents never have favourite children! Again being the favourite meant no discipline or advice  for 'poor choices'.

He now faces his day of reckoning as life catches up with him. He is under arrest but not yet charged. Whether he will be charges is problematic as it will be hard to do so so the experts tell us. This does not matter. He has no reputation. He cannot go out in public because of the shame.

We are told the government will bring in legislation sssso it is impossible for him to be King. Since he is EIGHTH  in line this is performative at best however it is a great example why a monarchy should never exist in a capitalist society where people never advance on their bloddlines.

This is a very sad story of a person who never learnt from his mistakes because he did not realise they are mistakes.

I should have added he was NOT arrested  on charges relating to having sex with minores .Neither was the Prince of Darkness for obvious reasons he does not like young girls@@

A sad anniversary

 It is now 4 years since Russia invaded Ukraine.

Originally most 'experts' thought Russia would have a quick victory and Ukraine would become a vassal state. This proved wrong and ukraine proved to be a formidable foe.They have proved to be both industrious and very flexible.

Since Russia invaded Ukraine then they began the hostilities. It is impossible to argue Ukraine began this fight.

An expanding NATO was never a problem either as it is, lome most treaties, a DEFENSIVE treaty. you can only call on other members if someone attacks your country.

Russia is not a great military power. Their tactics are poor and they do not appear to learn from any defeats. Their economy is in very bad shape thus Putin is conning everyone about peace talks. He has to gain a lot of territory politically.

It is interesting that Estonia recently wrote about Russia if Putin is deposed and it is worse than now!!

The western world should fully support Ukraine so it  defeats Russia. Biden was way too timid and Trump is a Russian agent in acts if not in words.

No-one knows how much longer this war will last.

Postscript:

I should have added we as a nation should have given them out FA-18s. They are still okay, we are not using them and they are much easier to make airfields for!

Bob Dylan again

Two weeks ago I went to the local pub and had a parmy with my youngest son and heard mozambique for the first time since the glory days of doublejay rock.

yet again I prefer the studio version

Around the Traps 20/2/26

 It is time for Around the Traps again.

Aussie,Aussie,Aussie,Oy,Oy,Oy

• Antony Green on will-the-coalition-face-messy-by-election-in-sussan-leys-seat-of-farrer , farrer-a-liberal-or-national-seat
• John Hawkins on want-to-know-whats-really-going-on-in-australian-politics-a-four-way-tussle-in-farrer-may-tell-us
• Hal Pawson on 55-000-extra-social-housing-homes-are-being-built-but-a-new-study-shows-that-boom-still-falls-short
• Michelle Grattan on who-is-angus-taylor-and-could-he-cut-it-as-opposition-leader , angus-taylor-appoints-tim-wilson-as-part-of-a-new-look-liberal-economic-team
• Se Youn Park on australia-has-ruled-out-repatriation-for-isis-families-this-isnt-a-safe-or-coherent-plan
• Greg Jericho on real-wages-fall-australia-workers-economy
• Christopher Hoy on real-wages-have-gone-backwards-even-earning-100-000-isnt-what-it-used-to-be
• Terence Cheng on private-health-insurance-premiums-will-rise-4-41-this-year-but-is-it-justified
• Jennifer Parker on chinese-warships-australians-never-got-debate

OZ Climate

• no-concrete-no-b-doubles-major-solar-and-battery-project-promises-ultra-light-touch 
  
• if-were-going-to-hold-an-inquiry-into-the-life-cycle-of-solar-why-not-coal-and-gas 
  
• no-concrete-no-b-doubles-major-solar-and-battery-projhttps://reneweconomy.com.au/no-concrete-no-b-doubles-major-solar-and-battery-project-promises-ultra-light-touch/ect-promises-ultra-light-touch
  
• we-dont-doubt-ourselves-fortescues-race-to-real-zero-and-the-radical-rethink-behind-it
  
• solar-and-wind-titans-reboot-push-for-huge-inland-renewables-zone-as-least-regret-pathway-to-coal-free-nsw
  
• records-tumble-as-nine-wind-and-solar-projects-1-gw-of-batteries-join-grid-in-just-three-months
  
• can-inverter-based-technologies-do-the-system-security-job-of-big-spinning-machines
  
• if-green-iron-is-the-future-for-whyalla-steelworks-locking-in-costly-and-dirty-gas-is-a-dead-end
  
• could-the-aemc-be-kinda-right-about-fixed-network-costs-late-submission-lobs-curve-ball-into-debate
• Rod Sims and Rebecca Burdon on don-t-be-gaslit-on-climate-there-s-no-going-back-on-this-energy-transition
• Milton Speer and Lance Leslie on dramatic-changes-in-upper-atmosphere-are-responsible-for-recent-droughts-and-bushfires-new-research

Northern America

• institutional economics on productivity-and-inflation-then-and-now
• persuasion on the-democrats-are-still-lost Thanks Nick
• Gilad Edelman on epstein-files-guilt-association Thanks Nick
• Kruggers on who-is-paying-the-trump-tariffs , turning-our-back-on-clean-energy , how-the-kakistocracy-became-a-quackistocracy ,billionaires-gone-wild , ieepa-ieepa-ieepa
• Christian Paz on epstein-trump-bondi-rogan-conspiracy-files-release-young-men 
• Brad De Long on from-plato-to-nato-to-maga
• Gibbs Knotts and Christopher Cooper on how-jesse-jackson-was-shaped-by-southern-segregation-and-went-on-to-reshape-american-political-life
• James Trapani on misreading-monroe-doctrine-creating-true-gulf-americas
• Menzie Chinn on output-gaps-again , guest-contribution-usury-laws-and-trumps-proposed-cap-on-credit-card-interest-rates
• Eric Levitz on trump-economy-jobs-inflation-gas-prices-polls
• David Frum on mona-charen-conservatism
• home and Away on bombs-bad-bunny-and-the-biathlon
• Alex Tabbarok on the-cassidy-report-on-the-fda
• Steve Benen on white-house-eyes-punishments-for-economists-who-told-the-truth-about-tariffs-consumers
• Ian Millhiser on supreme-court-new-york-gerrymandering-williams-malliotakis , supreme-court-trump-tariffs-learning-resources
• Dahlia Lithwick and Mark Stern on trump-doj-confession-new-jersey-court-deportations-ice , trump-bully-supreme-court-tariffs-roberts-barrett-gorsuch
• Jordana Salaama on the-chaos-of-an-ice-detention
• Ruxandra Teslo on the-30-year-success-story-the-us Thanks Tyler
• Ted Dehaven on trumps-slush-fund-venezuela-oil-gaza-board-of-peace-tariffs
• James Hamilton on gdp-continues-to-grow

Europe

• Lisa Martin on denmark-plays-royal-flush-trump-greenland-saga
• Jennifer Mathers on ukraine-if-elections-are-held-this-spring-who-might-be-the-next-president
• David Kirichenko on ukraine-s-population-hardest-stretch-war
• Stephen Kinsella on the-best-way-to-understand-the-irish-economy Thanks Tyler
• Henry Storey on european-industry-faces-existential-china-challenge
• Francesca Jackson on why-has-andrew-mountbatten-windsor-been-arrested-and-what-legal-protections-do-the-royal-family-have
• Jo Coghlin et al on could-andrew-mountbatten-windsors-arrest-bring-down-the-british-monarchy
• Nikola Mikovic on peace-ukraine-still-out-reach

Asia

• Shahad Uddin on bangladesh-nationalist-party-secures-victory-in-first-election-since-sheikh-hasinas-ousting
• Christian Emery on trump-insists-iran-talks-must-continue-but-military-action-is-not-off-the-table
• Adam Hawkins on what-thailands-election-means-for-the-future-of-the-country-and-its-beleaguered-pro-democracy-forces
• Amin Saikal on israel-is-accelerating-its-creeping-annexation-of-the-west-bank-can-donald-trump-stop-it
• Intifar Chowdhury on bangladesh-charts-new-multipolar-course
• Sanchari Ghosh on india-s-fleet-review-was-much-diplomacy-pageantry

Wonk

• the argument on the-postliberal-war-on-economics Thanks Nick
• the preamble on what-if-representative-democracy-isn't-the-only-way Thanks Nick
• jacobin on mann-doctor-faustus-fascism-far-right Thanks Nick
• George Orwell on not-counting-niggers Thanks Nick
• noahpinion on you-are-no-longer-the-smartest-type-of-thing-on-earth , updated-thoughts-on-ai-risk
• Chris Bertram on runcimans-rawls
• Hamid Ali et al on the-peer-review-system-is-breaking-down-heres-how-we-can-fix-it
• Tyler Cowen on taxing-beta-exempting-alpha-a-benchmark-based-inheritance-regime
• Kevin Foster on a-history-of-assassination-reveals-how-targeted-killings-became-an-extension-of-state-power
• Alex Tabbarok on minimum-wages-for-gig-work-cant-work
• Shameek Godara on can-quad-regain-momentum-after-india-us-reset
• the conversable economist on some-evidence-on-ai-productivity-and-labor-markets
• Aiden Warren on new-start-expired-now-what-global-nuclear-stability
• Monique Taylor on london-rules-slow-horses-modern-security-state
• slow boring on ai-progress-is-giving-me-writers-block thanks Brad
• Chris Dillow on economic-growth-as-social-change
• Maria O'Sullivan on with-more-restrictive-laws-across-the-country-how-can-we-protect-the-right-to-protest

General

• Jenny Graves on men-lose-their-y-chromosome-as-they-age-scientists-thought-it-didnt-matter-but-now-were-learning-more
• Caroline Gurvich et al on what-causes-depression-what-we-know-dont-know-and-suspect

Climate

• real climate on epas-final-ruling-on-co2
• Robyn Eckersly on trump-has-scrapped-the-long-standing-legal-basis-for-tackling-climate-emissions
• Sharon Thawaney on climate-diplomacy-has-moved-beyond-days-single-grand-bargain
• Owen Atkin et al on intense-heatwaves-directly-threaten-crops-and-native-species-heres-what-we-can-do
• ocean acidification on the-silent-shift-how-ocean-acidification-and-rising-temperature-affect-marine-organisms
• noahpinion on china-is-killing-the-fish
• skeptical science on new_research
• Moyhu on january-global-surface-templs-up-004-from-december

Andrew Gelman ( mainly stats)

• the-stupidity-the-criminal-vandalism-the-wanton-destruction-of-information-involved-in-dichotomisation
  
• funniest-predatory-journal-pitch-ever
  
• hanging-out-an-observational-study
  
• the-atlantic-monthly-march-1947
  
• survey-statistics-gallups-presidential-approval-ratings
  
• fitting-a-model-to-estimate-the-seats-votes-curve-back-in-the-bad-old-days-before-we-had-stan
  
• the-80-power-lie
  
• what-do-socrates-herb-simon-and-andrew-gelman-have-in-common-a-love-of-the-oral-tradition
• from junk science to junk medical treatments
•  staschat on cancer-hates-mornings-too , out-of-warranty
• Kaiser Fung on data-hunting-on-the-radar-chart , as-usual-no-ones-doping

Dianne Coyle ( quirky + book reviews)

• Christos Tsiolkas on melania Thanks Nick
• Jodi McAlister on is-wuthering-heights-actually-romantic-heathcliff-would-say-no

Vox Wonk

• silver-lining-european-energy-crisis-energy-efficiency-productivity-and-potential
  
• school-supervised-edtech-support-produces-massive-learning-gains-khan-academy-field
  
• how-ai-affecting-productivity-and-jobs-europe
  
• economics-kalshi-prediction-market
  
• eu-capital-markets-reform-should-focus-innovation-investment
  
• rethinking-existing-tax-schemes-political-giving-and-charitable-donations
  

What is Trump hiding?

 I am stumped at Trump's role in curtailing the Epstein files.

I have previously said I cannot see any evidence he broke the law here and I do not see Trump having sex with minors.

Releasing the epstein files alah the legislation is a no-brainer. Of course there will be embarrassments but people will forget them quickly. Getting it over and done with makes political sense however trump is doing the exact opposite. This has two main problems for trump.

1. It keeps Epstein in the headlines
2. People now think Trump and epstein are interwoven and has done 'wrong' things.

Trump is not very intelligent indeed quite the opposite. He is easily the most low IQ President we have seen in out lifetime. His actions on this merely proves this.

Wow Epstein in 2017 said Trump had too much orange and was suffering from dementia however this has vanished without a trace!!