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Dispensing with the US-centric financial system – John Quiggin
Quick quiz. Suppose you read a headline in the online version of the Wall Street Journal (or NY Times etc) stating that, from now on, US Treasury bonds would be redeemed in crypto. Would your response be (i) That’s absurd. Either it’s April Fools Day or someone has hacked the website (ii) That’s unlikely. Surely…
Trump has thrown out the global economic playbook. It’s time for Australia to write its own rules – John Quiggin
My latest from The Guardian =With the resumption of parliament this week, and an election only months away, we have seen even more of the usual point-scoring about the cost of living, tax breaks for long lunches and budget deficits. But since the return of Donald Trump to the White House, the assumptions on which Australian economic policy…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
How to dispense with Trump’s US – John Quiggin
This is a follow-up to my previous post on the end of US democracy and its implications. Here I will discuss how what’s left of the democratic world can respond. Surprisingly in many ways, the military part of dispensing with the US is the easiest bit, in each of its major areas of operation: Europe,…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
The dispensable nation – John Quiggin
“The cemeteries are full of indispensable people.” In one form or another, this observation has been made many times over the last century or more. What is true of people is true of nations. In the past 25 years or so it was often claimed (and , admittedly, often denied) that, in the modern world,…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
Australia (Act) Day (annual repost) – John Quiggin
As usual, 26 January has been marked by protests, denunciations of those protests, and further iterations. Even apart from the fact that it marks an invasion, the foundation of a colony that later became one of Australia's states isn't much of a basis for a national day. A logical choice would be the day our…
Should economists know their own history > – John Quiggin
There’s been a recent fuss in various media arising from a tweet from economist Ben Golub regarding astonishment that economists haven’t “worked through” Smith and Marx. English professor Alex Moskowitz chimed in with a claim that economics can’t be a real discipline because economists don’t know the history of their own discipline. This claim is…
Australia’s social media ban for under-16s: The evidence (crosspost from my Substack) – John Quiggin
This is the second in a series discussing the Australian legislation banning people under 16 from using social media. The previous post is here . I’m writing from the perspective of a longstanding user of new media and also as someone with personal experience of dealing (not very successfully) with problems of under-16 screen addiction. On the…
Australia’s U16 Media ban (crosspost from Substack) – John Quiggin
This the first in a series discussing the Australian legislation banning people under 16 from using social media. I’m writing from the perspective of a longstanding user of new media and also as someone with personal experience of dealing (not very successfully) with problems of under-16 screen addiction. On the other hand, I’m not a…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
Y2K: Apocalypse averted or pointless panic ? – John Quiggin
Safe to say this issue will never be resolved Twenty-five years ago, the world waited for the dawn of a new millennium (a few pedants grumbled that the millennium wouldn’t start until 2001, but no one paid much attention). The excitement of the occasion was tempered by concern, and, in some quarters panic, about the…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
Angry white men – John Quiggin
I’ve avoided post-mortems on the US election disaster for two reasons. First, they are useless as a guide to the future. The next US election, if there is one [1], will be a referendum on the Trump regime. Campaign strategies that might have gained the Democrats a few percentage points in November 2024 won’t be…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
RBA policy is putting all our futures at risk – John Quiggin
I wrote this for a Guardian panel. The published version was cut for space reasons, so here’s the full version The central concern expressed by the Reserve Bank in defending its high-interest rate policy is that expectations of higher inflation may become entrenched, requiring a further, more painful round of contractionary monetary policy in the future. Even…
Suggestions for a small experiment – John Quiggin
Last week, I gave a presentation at the 2024 Australian Basic Income Fellows Workshop. Most of the talks were about Basic Income trials, which have been undertaken around the world. I focused on something more modest but perhaps more achievable: getting evidence on the effects of Scrapping or Scaling Back Mutual Obligation and Income Management. You…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
Trump’s dictatorship is a fait accompli – John Quiggin
What can Americans do? What should Australia do? A few weeks ago, I drew up a flowchart to estimate the probability that Trump would establish a dictatorship in the US, which looked, at the time, like an even money bet. We don’t need to speculate any more. Trump has announced the dictatorship, and there is…
Armistice Day – John Quiggin
The Great War continues, more than 100 years later Yesterday was November 11, the anniversary of the armistice which ended fighting on the Western Front of what was then called the Great War. It’s always an occasion for sad reflection on my part, thinking about the pointlessness of the massive sacrifices of the War, which…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
The 35-hour week is overdue[1] – John Quiggin
Back in 1947, the standard Australian working week was reduced from 44 hours to 40. In 1983, 36 years later, the working week was reduced to 38 hours. That was more than 40 years ago, and there has been a lot of technological progress since then. It makes sense to take some of the benefits…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
The end of US democracy: a flowchart – John Quiggin
I spend a lot of time these days thinking about what I, and Australia as a nation, should do if the US ceases to be a democracy. But, it doesn’t seem as if lots of other people are thinking this way. One possibility is that people just don’t want to think about it. Another, though,…
Deputy sheriff or imperial outpost ? – John Quiggin
Via Peter Hartcher in the Nine papers, I learned the other day that Albanese snubbed President Prabowo of Indonesia to meet King Charles. The immediate decision before the Albanese government was how to deal with two important heads of state asking for attention at almost exactly the same time. The prime minister had a long-standing invitation…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
The death of the book, again – John Quiggin
We’re in another round of concern about the “death of the book”, and, in particular, the claimed inability or unwillingness of young people to read full-length books. I’m not going to push too far on the argument that this complaint is ancient, but I can’t resist mentioning the response of my younger brother, who, when…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
The US just lost a war and nobody noticed – John Quiggin
Over the eight decades following the end of World War II, the US has taken part in dozens of land wars, large and small. The outcomes have ranged from comprehensive victory to humiliating defeat, but all have received extensive coverage. By contrast, the US Navy’s admission of defeat in its longest and most significant campaign…
Assessing Albanese: an annotated list – John Quiggin
I’ve been consistently critical of the Labor party since Anthony Albanese became leader after Labor’s narrow but unexpected loss in 2019. It’s always easy to fall prey to confirmation bias in this kind of thing, making much of the bad and ignoring the good. To check my beliefs, I’m taking a widely circulated list of…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
In their plaintive call for a return to the office, CEOs reveal how little they are needed – John Quiggin
My latest in The Guardian Announcements from major employers, including Amazon and Tabcorp, that workers will be required to return to the office five days a week have a familiar ring. There has been a steady flow of such directives. The Commonwealth Bank CEO, Matt Comyn, attracted a lot of attention with an announcement that workers would…
Monday Message Board – John Quiggin
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. I'm now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I'll post both at this blog and on Substack. You can also follow…
We or They – John Quiggin
Like most academics these days, I spend a lot of time filling in online forms. Mostly, this is just an annoyance but occasionally I get something out of it. A recent survey in which the higher-ups tried to get an idea of how the workforce was feeling, asked the question "Do you think of the…