Michael Hudson As first published in The Invention of Enterprise: Entrepreneurship from Ancient Mesopotamia to Modern Times, David S. Landes, Joel Mokyr, and William J. Baumol, eds., (Princeton: Princeton University Press, 2010):8-39. Also on Michael’s website. A century ago economists…
photo credit: Schaffner Sometimes the ignorance of experts makes my blood boil. Why can’t they do the arithmetic, the sums plainly before them? The Victorian Transport Plan will cost $38 billion and produce benefits of $180 billion, according to a…
photo credit: Adam_T4 Michael Hudson and Shann Turnbull* Confronted by the global financial crisis that is burying foreign economies deeper in debt deflation each month, Australia needs to protect itself – indeed, to liberate itself from as many costs…
photo credit: 10b travelling Clear-eyed media commentary in the national interest is rare and sweet. Alan Mitchell’s analysis of the Henry Tax Review in the Australian Financial Review – A tax on all your economic rents – is such a creature.…
photo credit: raminders We follow the glitter of celebrities and our football teams and let others do the dull work of government. Our dreams are about homes, cars and holidays. But sometimes an issue is so important it deserves…
photo credit: Troy McClure SF Gavin R. Putland Published in today’s Crikey In contrast to the Henry report’s advice that payroll tax be eventually abolished (recommendations 55 and 57), the Rudd government has decided to increase its own payroll tax.…
photo credit: anarchosyn The Henry Tax Review’s highlighting of Land Tax as a policy direction is a welcome and encouraging development, says Prosper Australia. “This is THE tool to liberate the people of Australia from their current financial difficulties,” Prosper…
photo credit: robertivanc The great property speculation game is over in America and Europe. The music has stopped. Forty years of steadily increasing pressure has been released. Houses are worth a fraction of what people paid in better times,…
photo credit: Zach K The Melbourne versus Sydney rivalry has been reignited – Melbourne’s population is growing faster and is projected to overtake Sydney by 2037, a new report predicts. Going Nowhere, a report by BIS Shrapnel for…
photo credit: midlander1231 For too long, the media eagerly reported the property spruikers’ claim ‘prices only go higher’. This ‘truth’ turned homeowners into speculators and led a whole generation of first home buyers to commit to enormous mortgages they will…