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Articles on Economic theories

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Truth, lies and honey

Hives that travel by truck, bees paid for their pollination service, adulterated honey, economic theories based on an imaginary social organization…
European Commission president Ursula von der Leyen presents the “Green New Deal” plan to fight climate change before the European Parliament in Brussels on December 11, 2019. Aris Oikonomou/AFP

For the EU’s ‘Green Deal’ to succeed, economic theory must take into account qualitative growth

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.
Since its creation in 1999, the inflation rate in the euro zone has only exceeded 4 percent for a few months, on the eve of the Great Recession of 2008. Shutterstock

Why the return of high inflation can no longer be excluded

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.
Manchester City manager Pep Guardiola during Premier League match between against Crystal Palace in January 2020. EPA-EFE/PETER POWELL

Manchester City and Saracens – economic theory in action

Financial scandals have damaged the integrity of both clubs. With the rewards for cheating so high, harsher punishments are needed.
If we want economics to appeal to young Australians, it needs to move away from theory and towards tackling some of the trickiest issues faced by the next generation. www.shutterstock.com

Economics needs to get real if we want more young Australians to study it

For economics to play a more helpful, critical role, it must abandon blind faith in the free market and embrace the social, historical, and environmental context in which economics actually happens.
The authors of the book The Making of Finance highlight the intellectual capture of the financial worlds. Bart Sadowski/Shutterstock

Mobilising the social sciences to rethink finance

Nothing has changed since the 2008 financial crisis. Orthodox theory continues to structure the entire financial industry, yet there is an urgent need to study the social and political nature of markets.
Aggregate demand is being hit by the concentration of income growth among the top earners and is now a drag on economic growth. Shutterstock

How rising inequality is stalling economies by crippling demand

News that Australian CEO pay has soared to a 17-year high at a time when ordinary workers’ wages are flatlining is ultimately bad news for economic growth and prosperity.
The treasurer referred to the A$13 billion “zombie” measures the Senate has failed to pass as a “Senate tax”, in justifying the tax increases in this budget. Lukas Coch

Budget 2017: bank populism will be paid for by Australians

The budget was extraordinary in many ways. It is an abandonment of restraint on taxes by a liberal government. It is nakedly populist and it also acknowledges that government debt can be productive.
It is an attractive proposition to say we would gain significant efficiencies if there were a limited number of major providers of government-funded human services. shutterstock

There are more useful questions to ask than whether Australia has ‘too many’ charities

If we continue to base our views of the charity sector on incorrect assumptions and perceptions we run the risk of doing considerable damage to a national asset.

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