Spot on

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The 1st @PaulKrugman explains globalisation to @SenSanders @JeremyCorbyn

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Source: Enemies of the WTO (1999).

50% of @PaulineHansonOz @OneNationAus votes come from @AustralianLabor voters

How can Pauline Hanson be an extreme right-winger if half of her votes come from people who 2nd preference the Australian Labour Party? This strong support for her populism has been well-known since she won the safest Labour Party seed in Queensland in the 1996 Australian Federal Election but is hardly ever mentioned by the media or her critics.

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Source: Antony Green’s Election Blog: Preference Flows at the 2016 Federal Election.

It should be therefore no surprise that a lot of her views have popular support because she has support across the political spectrum. Not knowing that will means you will be not very good at combating her views which you simply do not understand where they come from.

Few of her supporters see themselves as extremists and will be insulted when you suggest they are. Listen here dummy is no way to win back votes of people who just voted for you recently.

Hanson’s support among Labour voters is increasing. Only 42% of her voters gave their 2nd preference to Labour in previous federal elections for the House of Representatives.

I hope no one in @OxfamGB’s #taxhaven clip were fresh from a #TPPANoWay march?

I hope none in this clip protesting against tax havens as short changing everybody else were fresh from protesting how international economic agreements such as the TPPA infringe on the sovereignty of countries.

If you standing up for national sovereignty that includes standing up for the right of other countries doing things that you do not like within their own country.

If countries have the right to set taxes and tariffs as high as they like, they have just the same right to set them as low as they like.

All that plucky rhetoric of TPPA no way and how international economic agreements violate the sovereignty of countries and developing countries in particular is forgotten in a flash by Oxfam.

Oxfam manages the blinding hypocrisy of opposing the Transpacific Partnership on national sovereignty grounds and at the same time call for international treaties to bully small countries about their tax policies, which overrides their economic sovereignty.

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The sovereign rights of developing countries to find their own way does not extend to undermining the tax bases of the rich countries struggling to finance their welfare states.

The Pacific Islands, the once were heroes of the recent Paris climate talks, turn into pariahs once they start looking out for themselves and setting up offshore financial centres and tax havens.

Developing countries are free to impoverish themselves by embracing socialism, but if they decide to attract investment and jobs through low tax rates and offshore financial centres, a new form of colonialism is embraced by the reactionary left as embodied by Oxfam.

Buying 9 more houses than the Australians = dominating housing market says @nzherald

Chinese tax residents bought 321 Auckland properties (29.5 per cent of the total); Australian tax residents purchased 312 Auckland properties (28.6 per cent).

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Source: NZ Herald: New Zealand’s Latest News, Business, Sport, Weather, Travel, Technology, Entertainment, Politics, Finance, Health, Environment and Science.

What 3 skills do public policy analysts need?

I used to argue that the quality of public policy making would double if public policy analysts remembered the first 6 weeks of microeconomics 101 but on reflection more than that is required.

I picked up my initial insight out when working as a graduate economist in the Australian Department of Finance. That was a few years ago.

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I am now concluded that policy analysts also need to know the basics of the economics of tax incidence. Who pays the tax depends on the elasticities of supply and demand rather than who writes the check to the taxman.

The number of times that I have read media and public policy analysis saying who pays the tax is the writer of the cheque to the taxman is beyond counting.

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There is also what to do about unemployment and inflation. Do not just do something, sit there might be good advice on most occasions. As Tim Kehoe and Gonzalo Fernandez de Cordoba explain in the context of first do no harm:

Looking at the historical evidence, Kehoe and Prescott conclude that bad government policies are responsible for causing great depressions.

In particular, they hypothesize that, while different sorts of shocks can lead to ordinary business cycle downturns, overreaction by the government can prolong and deepen the downturn, turning it into a depression.

Poverty in #India under the Permit Raj and then the dead hand of #neoliberalism

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Source: Revisiting poverty reduction in India with 60 years of data | VOX, CEPR’s Policy Portal

How to tell if you are a modern progressive – a two-part test by Scott Sumner

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Source: How to tell if you are a modern progressive, Scott Sumner | EconLog | Library of Economics and Liberty.

What undergrads and @stevenljoyce need to know about trade @GreenCatherine

Minister for everything Stephen Joyce wrote some nonsense in the paper today about how trade agreements and more exports will mean more jobs:

I would like to make the point that trade access is hugely important for a small country like New Zealand. 

Without fair and equal trade access we can’t sell as much of our goods and we get less for them. And that means fewer jobs.

This make-work bias is as bad as those who oppose trade agreements on the grounds of an anti-foreign bias. Trade affects the composition of employment, not the number of jobs. Paul Krugman spent a good part of the 1990s trying to explain that to the general public and public intellectuals.

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Source: What Do Undergrads Need To Know About Trade?.

@BernieSanders just wants to build a different type of wall to @realdonaldtrump’s

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