When Lord John Maynard Keynes wrote “In the long run we are all dead”, he was not just expressing his frustration at mainstream economists who blindly believed in self-adjusting markets. I am convinced…
- Dean of Business School, University of Southern Queensland
Creating more jobs is a rather common promise in politics. Some politicians are more daring in pledging to create a certain number of jobs within a given period of time. During the 2013 electoral campaign…
The downing of Malaysian Airlines flight MH17 has considerably increased the strain on the relationship between Russia and the European Union and United States on the other side. Following the escalation…
Forget Lionel Messi, Cristiano Ronaldo or Mario Balotelli. What will make your country more (or less) likely to succeed in the World Cup is its rate of economic growth. At this point, I expect European…
Everybody would agree that growth, defined as a steady increase in gross domestic product, is a necessary condition for economic development. There is simply no country that has reduced poverty and improved…
In the popular novel of F. Scott Fitzgerald, James “Jimmy” Gatz (The Great Gatsby) climbs from his poor, rural North Dakotan origins to New York’s high society. His parties are as glamorous as they get…
Treasurer Joe Hockey this week revealed plans to push for quantitative economic growth targets from the G20 Finance Ministers, who are meeting in Sydney this weekend. But it’s unclear whether this mission…
High levels of government debt won’t hurt economic growth in the medium and long-term, according to a new paper released by the International Monetary Fund. The research findings contradict earlier arguments…
As widely anticipated, prime minister Tony Abbott’s speech to the World Economic forum (WEF) stressed the absolute centrality of the private sector as an engine of economic growth. Outlining Australia’s…
The World Bank’s Global Economic Prospects report released this week is moderately optimistic about the short-term outlook of the global economy. World Bank economists anticipate an improvement in most…
The International Monetary Fund and the World Bank will today begin their marathon three-day annual meeting in Washington D.C. to review the last year and set out strategies for the future. And while it…
Australia has elected a Coalition government. So what will this mean for key policy areas? Our experts take a closer look at what’s in store for business, the economy, the environment, the National Broadband…
The Coalition has released the remainder of its costings, one-and-a-half days before the election, outlining a plan to fund an A$11.5 billion infrastructure package by cutting foreign aid growth by $4.5…
The economic management record of Kevin Rudd as a prime minister is constantly under attack in this campaign. To put it bluntly, I fail to see why. As I already discussed in other articles and as I will…
The statement of Tony Abbott strengthens my impression that candidates (and Mr. Abbott above all) confuse the tools of fiscal policy with its objectives. Tools vs. Objectives of fiscal policy The objectives…
Election FactCheck is checking key claims in political advertisements. Here we look at the “Rudd’s record” ad from the Liberal Party. Kevin Rudd was borrowing $100 million every day. Now we have a $254…
In launching the Liberal Party’s campaign in Brisbane on Sunday, Tony Abbott appeared to renege on his previous announcement to bring the budget back to surplus in the first term of the Coalition government…
Kevin Rudd and Tony Abbott have met in a “town hall” style leaders’ debate at the Broncos Leagues Club in Brisbane. Abbott and Rudd took questions from an audience of 100 undecided voters on issues from…
This TV Ad touches on a number of interesting elements of the economic policy platform of the Coalition. One that has caught my attention and on which I would like to comment here is the promise “to generate…
“We have among the lowest of budget deficits and debt to GDP of any other major economies in the developed world… If it’s so bad, Mr Abbott, why have we been given by the three ratings agencies a AAA credit…
“Under this [Labor] government we’ve seen one manufacturing job lost every 19 minutes.” - Opposition industry spokeswoman Sophie Mirabella, Q&A, 1 July. The Conversation contacted Mirabella’s office…
It would seem that the US quantitative easing policy has had a positive effect. New figures show US jobs creation has strengthened, while consumers’ confidence has hit a five year high, home prices have…
The European Union (or at least its periphery) is a big, sick patient that so far has been treated with robust injections of fiscal austerity. This seemed to be the right course of action to cure the “debt…
The economic literature is full of excellent articles that are not read outside small academic circles. There are, however, important exceptions. “Growth in a Time of Debt”, by Carmen R. Reinhart and Kenneth…
Uninsured savings over €100,000 deposited in a troubled Cypriot bank may be subject to a new levy, under a deal reached to save the Cyprus banking system. The European Union (EU) finance ministers, the…
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