Human behaviors shift. Policies change. New technology arrives and evolves. All those changes and more are hard to predict, and they affect tomorrow’s costs.
Harcourt became an economist because he “hated injustice, unemployment and poverty”. He became one of Australia’s greatest, and was a leading figure in the development of economic thought.
Central bankers are expected to discuss the racial income and wealth gaps during the virtual Jackson Hole retreat. But an economist argues that the Fed is not suited for addressing these issues.
To achieve sustainable growth under the constraint that consumption is independent from the use of natural resources, we must move along the path of qualitative growth.
The English economist’s views on “animal spirits” are vital to understanding his work.
In the United States, economists are currently questioning the risks of a $1.9 trillion stimulus package.
Massive stimulus plans combined with rising production costs could lead to expectations that inflation will rise. And that alone could trigger an inflationary spiral not seen in 25 years.
The spread of COVID-19 highlights Europe’s political and economic weaknesses and suggests that the institution may be entering a deep crisis.
Investment incentives might not be enough. We’ll need public investment and forced increases in wages.
An economist who has studied new ways to improve measures of gross domestic product explains what GDP is and how it could better reflect an economy and the well-being of its inhabitants.
The World Bank’s latest report on Nigeria deserved closer scrutiny, just like the opinions of economic experts outside government.
Australia’s secret weapon has been faith in market outcomes combined with a strong social safety set.
Treasury Secretary Steven Kennedy says its up to the Reserve Bank to boost the economy. In normal times, that’s not his job.
Australia is becoming more like the United States. Increasingly, we invest overseas. Our domestic economy is weak.
The latest data is not promising – central banks must react accordingly.
We’ve 41,000 more long-term unemployed than would be expected given the unemployment rate. Something has changed.
Frydenberg and Morrison will have to switch from boasting about the economy to fixing it, quickly.
History shows there’s no best economic manager. They’re both pretty good.
Investors are increasingly concerned about climate change, but for the markets to deploy their full capacities, the dominant principles that guide them need to be revised.
The Reserve Bank has adjusted rates in previous election campaigns, but it needs to have a very, very, good reason.