From Great Depression to Global Financial Crisis to Great Lockdown
16 Apr 2020 Leave a comment
IMF’s World Economic Outlook- Apr 2020 has named this crisis as Great Lockdown.
The world has changed dramatically in the three months since our last update of the World Economic Outlook in January. A rare disaster, a coronavirus pandemic, has resulted in a tragically large number of human lives being lost.
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Veteran judicial activist lawyer Laurence Tribe of all people drew this quote to my attention
16 Apr 2020 Leave a comment
The lags on fiscal policy infrastructure spending are even longer
16 Apr 2020 Leave a comment
in applied price theory, business cycles, economics of bureaucracy, economics of information, fiscal policy, macroeconomics, monetary economics, Public Choice
The Post-COVID-19 Blueprint (Part 2.1): The Docilian Decline
16 Apr 2020 Leave a comment
How did we let this happen? Once the COVID-19 coronavirus crisis passes, we will need to make a serious reassessment of our risk management tools and capacities. This pandemic has shown how woefully ill-equipped the authorities of most Western democracies were in the art of managing risks and protecting the most vulnerable in society. This three-part series aims to establish a blueprint for a future risk management world equipped to handle the challenges of the 21st century. Part 1 looked at how the precautionary principle failed as a risk management policy tool. Part 2 will be divided into three parts: first looking at the docilian decline: how individuals and policymakers had become receptive and docile in their attitude toward risk. The second section looks at the four factors giving rise to this risk-averse “docilian mindset” over the last two decades and how it unravelled with the COVID-19 coronavirus. In the…
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Promising gas find is reported without much hoopla – Taranaki will welcome the boost but the Greens are coy
16 Apr 2020 Leave a comment
In another era, it would have been the lead story on every news channel. But in a country brainwashed into believing it’s apocalypse now, either from global warming or Covid-19 (and possibly both), news of a “significant” oil and gas discovery offshore in Taranaki barely registered in the mainstream media, although the New Zealand Herald did record it in the business pages.
There has not been a major energy find in NZ since 2006, and given New Zealand has only 11 years of gas reserves left, the discovery could be an exciting outcome at a crucial phase for the NZ economy.
Austrian giant OMV reported the Toutouwai-1 wildcat, drilled to a total depth of 4,317m some 50 km off the Taranaki coast in 130m of water, encountered several hydrocarbon-charged reservoir zones during drilling.
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Coronavirus economics and policy: from the mailbox
16 Apr 2020 Leave a comment
But first an update of the chart showing numbers of new announced coronavirus cases for New Zealand and Australia (the latter divided by five to produce a comparable per capita number).
A few days on from the last time I ran the chart and New Zealand is still finding about twice as many new cases per capita as Australia. At the margin, we seem to do be doing a few more tests per capita each day than Australia is – in both countries the number of tests being done has fallen back from the peak. But despite our more restrictive regime, we don’t seem to be producing better (lower new cases) results than Australia. Who knows why, although those left-wing academics from Otago, professors Baker and Wilson, while lavishing praise on the Prime Minister in the Guardian
One critical success factor that is, unfortunately, harder to guarantee is high-quality…
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Lockdowns 5 April Oz and NZ: Same flattening of #COVID19 curve 10 days later, vastly different economic costs
16 Apr 2020 Leave a comment
in applied welfare economics, economic growth, health economics, politics - Australia, politics - New Zealand
From https://www.google.com/covid19/mobility/
From https://castalia-advisors.com/comparing-the-new-zealand-and-australian-states-responses-to-covid-19/
Steve Davis: How has #COVID19 affected businesses?
16 Apr 2020 Leave a comment
in business cycles, econometerics, economic growth, economics of natural disasters, health economics, labour economics, labour supply, macroeconomics, managerial economics, organisational economics, personnel economics Tags: economics of pandemics
.@Ayaan Hirsi Ali, Infidel, Nomad, Heretic
16 Apr 2020 Leave a comment
in defence economics, development economics, discrimination, economics of crime, economics of religion, gender, growth disasters, law and economics, laws of war, politics - USA, war and peace Tags: Age of Enlightenment, free speech, Freedom of religion, political correctness, regressive left, war against terror
The woke do
16 Apr 2020 Leave a comment
in economics of crime, economics of love and marriage, economics of religion, law and economics, politics - Australia, politics - New Zealand, politics - USA Tags: free speech, Freedom of religion, law and order, political correctness, regressive left, sex discrimination
Monetary policy in the 21st century: An Allan Meltzer perspective
16 Apr 2020 Leave a comment
in business cycles, economic history, financial economics, great depression, great recession, labour economics, labour supply, macroeconomics, monetarism, monetary economics, unemployment Tags: Keynesian macroeconomics, New Keynesian macroeconomics
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