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The 1st @PaulKrugman explains globalisation to @SenSanders @JeremyCorbyn
04 Jan 2017 Leave a comment
in applied price theory, comparative institutional analysis, development economics, growth disasters, growth miracles Tags: antiforeign bias, antimarket bias, globalisation, Leftover Left, pessimism bias, The Great Enrichment, The Great Escape, The Great Fact
Source: Enemies of the WTO (1999).
50% of @PaulineHansonOz @OneNationAus votes come from @AustralianLabor voters
22 Sep 2016 1 Comment
in constitutional political economy, politics - Australia, Public Choice Tags: 2016 Australian federal election, antiforeign bias, antimarket bias, expressive voting, free trade, globalisation, left-wing popularism, makework bias, rational irrationality, right-wing popularism
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.
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?
11 May 2016 Leave a comment
in applied price theory, development economics, economic history, growth disasters, growth miracles, income redistribution, international economic law, international economics, Public Choice, rentseeking Tags: antiforeign bias, Left-wing hypocrisy, neocolonialism, Oxfam, rational irrationality, reactionary left, tax havens, TPP
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.
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.
When my father was born, 7 in 10 people lived in absolute poverty.
Today, it's 1 in 10! https://t.co/1Caqku3AY1—
Tim Fernholz (@TimFernholz) October 21, 2015
Buying 9 more houses than the Australians = dominating housing market says @nzherald
10 May 2016 Leave a comment
in economics of regulation, politics - New Zealand, Public Choice, rentseeking Tags: antiforeign bias, housing affordability, land supplied, rational irrationality
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).
What 3 skills do public policy analysts need?
27 Apr 2016 Leave a comment
in applied price theory, business cycles, economics of bureaucracy, economics of regulation, fiscal policy, macroeconomics, monetary economics Tags: anti-market bias, antiforeign bias, expressive voting, lags on monetary policy, makework bias, rational rationality, tax incidence, The fatal conceit, The pretense to knowledge
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.
Could we economists today ever show such self-restraint about our own expert recommendations? https://t.co/2UE12JuIgn—
William Easterly (@bill_easterly) November 24, 2015
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.
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.
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
24 Apr 2016 Leave a comment
in applied welfare economics, constitutional political economy, development economics, growth disasters, growth miracles, Marxist economics Tags: antiforeign bias, antimarket buyers, economics of socialism, India, permit raj, rational irrationality
How to tell if you are a modern progressive – a two-part test by Scott Sumner
13 Apr 2016 Leave a comment
in international economics, labour economics, minimum wage, politics - New Zealand, politics - USA Tags: antiforeign bias, antimarket bias, expressive voting, Leftover Left, living wage, makework bias, rational irrationality
What undergrads and @stevenljoyce need to know about trade @GreenCatherine
12 Apr 2016 Leave a comment
in applied price theory, applied welfare economics, development economics, international economics, job search and matching, labour economics, labour supply, macroeconomics, politics - New Zealand Tags: antiforeign bias, free trade, makework bias, Paul Krugman, protectionism, tariffs, trade policy
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.
@BernieSanders just wants to build a different type of wall to @realdonaldtrump’s
09 Apr 2016 Leave a comment
in applied price theory, applied welfare economics, development economics, growth disasters, growth miracles, industrial organisation, international economics, labour economics, labour supply, politics - USA Tags: 2016 presidential election, antiforeign bias, economics of immigration, left-wing popularism, Mexico, NAFTA, right-wing popularism, The Great Escape, trade agreements
Political bias, free trade and @berniesanders @realdonaldtrump
31 Mar 2016 Leave a comment
in applied price theory, applied welfare economics, economics of media and culture, industrial organisation, international economics, politics - USA, Public Choice, public economics, rentseeking Tags: 2016 presidential election, antiforeign bias, antimarket bias, makework bias, pessimism bias, rational irrationality
The 1st @PaulKrugman on globalisation & development @harleyhs #TPPANoWay
22 Mar 2016 Leave a comment
in development economics, economic history, growth disasters, growth miracles, international economics Tags: anti-market bias, antiforeign bias, GATT, gender analysis, gender wage gap, makework bias, NAFTA, pessimism bias, preferential trading agreements, rational irrationality, TPPA, WTO
Source: Paul Krugman (1997) Enemies of the WTO.
This visiting American education professor who specialises in globalisation, claimed in the linked radio interview that real wages had fallen in the USA and Mexico. Even for the bottom 20% of the USA, their after-tax household incomes increased by 40% since 1979, with most of that after the signing of NAFTA.
Everything that is bad in crony capitalist Mexico is the fault of NAFTA if our visiting academic is to be believed despite trade tripling and investment increasing 600% because of NAFTA.
Women’s earnings growth has been perfectly fine over the last 40 years despite the horrors of NAFTA and the attack on unions and workers rights by a top 1% emboldened by NAFTA and globalisation, if our visiting academic is to be believed.
Gender analysis, gender analysis, where is his gender analysis of NAFTA? Few labour market statistics make sense without being broken down by sex because of the immense economic progress of women in the last 50 years. Can NAFTA claim credit for that?
Note from @paulkrugman to @BernieSanders @JeremyCorbyn and their supporters
23 Feb 2016 Leave a comment
in applied price theory, comparative institutional analysis, constitutional political economy, economic history, economics of media and culture, economics of regulation, labour economics, macroeconomics, Marxist economics, politics - USA Tags: 2016 presidential election, antiforeign bias, antimarket bias, British politics, Leftover Left, make-work bias, rational ignorance, rational irrationality, renegade Left, Twitter left
Utopia, you are standing in it! 
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