We ought, more accurately, to talk about the money supplied by the the federal government, instead of a deficit in government accounts. The so-called government deficit is also the private sector’s surplus, which it can use constructively.… Read More Two big budget fallacies harming Australians
The neoliberal, social engineering experiment in privatisation has been an economic failure and a social disaster. Underpaid, insecure, fearful people can become desperate. They can look for someone to blame, and someone to save them.… Read More What if Labor has still got it all wrong?
What is good for one boss is not necessarily good for all bosses. To see the point, imagine all bosses stopped paying their workers. No-one would have money to buy anything and the economy would collapse. The bosses would go broke too.… Read More Higher wages are good for the economy
If instead we say that the cost of living has just gone up, we might decide that everyone needs to make do with a bit less. We might decide that the wealthy are fine to look after themselves but the struggling battlers could use a bit of help. We might increase welfare payments, unemployment benefits (remember those?) and the minimum wage. We might close a few gaping tax loopholes to cover the cost.… Read More Don’t call it inflation