#neoliberal-economics — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #neoliberal-economics, aggregated by home.social.
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[edited to correct an grevious error]
I normally pay attention to #AlanKohler but I don’t always agree with him. In this article he tackle #Productivity and #AffordableHousing.
On productivity Kohler links #Wages with #Inflation to explain low productivity. WTF. That’s as close to #NeoLiberalEconomics as you can get and that old horse was put to pasture in 2008 (though it’s hanging around with a bad smell that every politicians and most economist fail to apprehend). Furthermore, you cannot ask workers to work harder for more hours with less pay just to increase productivity. That is not how it’s supposed to work. Capital investments in production processes and tooling are necessary to improve productivity. That is, cutting profits to re-invest — which of course runs counter to #NeoLiberalism and the #TrickleDownEconomic model the #Grifters have been peddling for the last 40 years or so.
When talking about #housing and #construction the only thing Kohler says that makes sence is that the only way to beat the current economic set up is to build housing that does not require private capital investment (because that requires a 6% pa return which goes to feed the crazy spiraling house prices, aka the #SpeculativeRealEstate markets). To do this, public funds must be used to build houses which requires #TaxReform to fund properly from federal revenues. There are other ways to do this of course. Like Community not-for-profit housing, as done in parts of Europe, through verious public funding models and favouring tax regimes. But when Kohler ties Immigration to housing shortages, he cuts corners and cherry picks. For example, immigrant families are generally bigger than Australia’s average of 2.57 per household (Source: ABS.gov.au), my family certainly was. Yet Kohler use the 2.5 adult per household figure to calculate the immigration demand on housing without differentiating between #NetImmigration and overall immigration numbers (wich include seasonal workers, international students, working holiday backpackers, ect.). This kind of data (mis)use goes some ways to discredit the validity of Kohler’s proposition and diminish the strength of his argument.
You can read the article here for yourself, but it does point out that even a well regarded economic analyst is prone to tailor their words to reflect their political and econmic hobby horses. Read it by all means, but don’t swallow anything until you’ve chewed the cud for a time. We are thinking beings, put your innate #CriticalThinkingSkills to good use in whatever you read (especially these days). Even when missing information and knowledge, think about what you hear/read/see before it goes to a change/shore up your opinion. Work in progress as always.
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@InsurgoFormica
Yes Greg Jericho (Australia Institute) tells it like it is and makes no bones about it. I regularly read his columns as well as those of Prof John Quiggin (well argued views), Prof Richard Murphy (taxresearch.org.uk) for his excoriation of #NeoLiberalEconomics, and Prof Varoukakis (for his unconventional view) when he writes them -
Tegan George adds further weight to the argument favouring #TaxReform in the #FossilFuelIndustry and #GasSuperProfits with this article for The Point:
“A lead analyst at the Institute for Energy Economics and Financial Analysis (IEEFA) has argued that conditions are ripe for an overhaul of how Australia taxes liquefied natural gas (LNG) exports, with gas giants preparing to cash in on another global price surge.”
Read more:
https://thepoint.com.au/news/260416-pivotal-moment-for-lng-tax-reform-as-prices-surge-globally#AusPol #Grifting #GreedFlation #NeoLiberalEconomics #CapitalismGoneWild #EatTheRich
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The view from Grogs
https://live.australiainstitute.org.au/2025/10/parliament-live-senate-estimates-gets-underway-all-the-days-events-as-it-happens/Of course, this is the expected outcomes with every public infrastructure (Telecom sale) sold to the private sector. Falling service standards and profit taking priorities as long as profits are to be had, else the service tanks and privateers pull out without penalties.
#StateCapture #PrivatisationRuins #NeoliberalEconomics #ShortTermGains #LongTermFailures #InUnity #PublicInfrastructure #Optus #000Fiasco
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If you’re an MMT‘er, this is one podcast you do not want to miss. I for one am looking forward to the next one.
If you are a neoclassical or neoliberal economist then watching this pod cast is likely to screw with your brain, so be warned even though I huighly recommend you watch it.
#RichardMurphy #economics #NeoclassicalEconomics #NeoliberalEconomics #MOdernMoneyTheory #MMT #Taxation #GovernmentExpenditure #Academia #EconomistsAdrift #FalseEconomicAssumptions #ChicagoSchoolOfEconomics #Reaganism #Thatcherism
Our economic systems are built on false assumptions and we need to change that because there are better ways to greater social good.
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Business Stuff doesn't make any sense till I remember the principle (maxim? another vile maxim?) of the "Invisible Foot" explained by E.K. Hunt.
> .. The "invisible foot" ensures us that in a free-market ... economy each person pursuing only his own good will automatically, and most efficiently, do his part in maximizing the general public misery.
- https://mstdn.jp/@bsmall2/108195742682747173
- https://znetwork.org/wp-content/uploads/zbooks/www/books/3/3.htm#3.2.1
#EKHunt #InvisibleFoot #BusinessStuff #WelfareEconomics #NeoLiberalEconomics #DismalProfession -
.> In his book on globalization, The Lexus and the Olive Tree, Friedman says, and I quote, “The hidden hand of the market will never work without the hidden fist. McDonalds cannot flourish without McDonnell Douglas…and the hidden fist that keeps the world safe for Silicon Valley’s technologies to flourish is called the U.S. Army, Air Force, Navy, and Marine Corps.” Perhaps this was written in a moment of vulnerability, but it’s certainly the most succinct, accurate description of the project of corporate globalization that I have read.
#ArundhatiRoy in her speech #ComeSeptember quotes #ThomasFriedman on the #InvisibleHand with #HiddenFist about which he may haver written in a "moment of vulnerability." Maybe E.K. Hunt's "Invisible Foot" caught him a good one that day and he slipped, blurted out a clearer way of seeing #CorporateGlobalization, #FreeMarkets, #NeoLiberalEconomics....
- https://dharma-records.buddhasasana.net/texts/arundhati-roys-speech-come-september -
Well, if the last 8 interest rate rises have done basically nothing to address inflation... then I'm sure the next one will totally work! 🙃🙃🙃
