More, not less, equality needed for economic growth

November 10, 2009 5

Now the attention of Australian policy-makers is turning to maximising prosperity, understood as GDP growth, over the next few years. The Australian’s Michael Stutchbury says this will require ‘tough-love’ policies. Usually, this is code for giving carrots to the rich and sticks to the poor. Tough for the bottom of society, great for the top, […]

Business needs to keep perspective on social media

November 5, 2009

I had a great time talking to a business group in Sydney today, my theme was that social media is suited in some corporate circumstances and not others. I made the point that there was nothing blue sky or revolutionary about social media and, indeed, it has some real drawbacks for corporates. I made four […]

Economic theory vs. economic history

October 10, 2009

A passionate argument for re-integration (and a longer version here): This is not to say that the macroeconomic model-building of the past generation has been pointless. But I do think that modern macroeconomists need to be rounded up, on pain of loss of tenure, and sent to a year-long boot camp with the assembled monetary […]

Markets are not efficient, says business school academic

June 12, 2009 4

No kidding, but is this another sign of a post-GFC academic trend. This article from a London Business School professor published by the Harvard Business School caught my attention: The economist Jovanovic wrote, about a quarter of a century ago, “efficient firms grow and survive; inefficient firms decline and fail”. What he meant is that […]

Media response: Wahhhh! I want a recession

June 4, 2009 2

After all, everyone else has got one mummy. The media is at its rancid worst this morning bemoaning the technical absence of a recession when everyone reeaalllly knows the whole place is f#cked. Ross Gittins defends his right to call it a recession no matter what the data say. Interestingly, a week ago he was […]

A triumph for Australian economic policy makers

June 3, 2009

Today’s news that the Australian economy actually grew during the March quarter is remarkable. Sure we’re not out of the woods yet but the contrast between Australia’s performance and that of much of the rest of the world is notable. It appears that exports and consumer spending have been the main factors in the favourable […]

Using Twitter for business

May 27, 2009

My buddy, and social media educator extraordinaire, Lee Hopkins has produced a Twitter report and is giving it away for the next 7 days. Says (spuiks?) Lee: But as a loyal and valuable reader of this blog, I’m giving you just 7 days to naba free copy of the Twitter Mastery for Business report as a way of saying “thank […]

What’s Tanner been doing?

May 22, 2009 1

Traditionally, the Finance Minister is the tough guy. The Finance Minister is the one that imposes fiscal discipline on his more or less unwilling colleagues all of whom are usually keen to protect their patch and deliver the goodies for their portfolio’s clients. As Peter Walsh (pretty much the creator of the tradition) used to […]

Give me your frugal, your thrifty, your wealthy multitudes yearning to save pennies

May 21, 2009

As we all know, the media are herd animals and as befits these ‘hard’ times the Columbia Journalism Review has been tracking what it calls the ‘frugality beat’.  We’ve seen a bit of this stuff locally too. For instance, the Gladstone Observer has a useful piece, “Tackle recession blues with books“, the fairfax media recently […]

Ken Henry’s communication problem

May 20, 2009

Treasury boss says he’s got one. If he does he might want to reflect that arrogance and an extreme sensitivity to criticism are never the foundation for great two-way communication: STEPHEN LONG: For eight years now Ken Henry’s given the post-Budget speech to economists as the head of Treasury and in that time, few Federal […]