I’ve already unleashed a lot of emotive language on the National Broadband Network. Here’s why: Continue reading National Broadband needlessness.
Tag: Economics
Baking the dough of debt into the bread of financial crisis.
Debt seems to be a necessary trigger condition for global economic disasters.
Doesn’t matter if its private (subprime mortgages) or Government (Greek debt).
But Japan shows debt is not a sufficient condition for a meltdown. (Government debt = nearly 200 percent of GDP)
So what is the extra ingredient that turns the dough of debt into the crusty baguette of financial crisis? Continue reading Baking the dough of debt into the bread of financial crisis.
National Broadband Nuff-Nuffs
Now, I flipping LOVE the internet, so don’t get me wrong. But $43 billion for a national broadband network works out at $2000 for every Australian.
What is Net Neutrality?
Folks interested in the operation of the inter-wobble are probably aware of the concept of NET NEUTRALITY.
For the rest of us, here is the gist: Internet Service Providers (ISPs) have the capacity to restrict their subscribers’ access to specific content and websites. For example http://www.CNN.com might load at the normal speed, but http://www.socialistdaily.com is made as slow as a wet week.
Advocates of Net Neutrality want such activities to be illegal.
Charter Cities – An Idea
Paul Romer has an idea people are calling crazy. He was a Stanford Economics Professor, but now he’s quit to pursue full time the idea of charter cities. Eh?
Charter cities are based on the idea of charter schools. These are schools in America outside the education system. They are generally in poor black areas and have a ‘charter’ – a set of radically different rules. For example they might do ten hour school days, six day weeks, compulsory uniforms. They are like free private schools, and they have been extremely popular (59 percent have waiting lists for entry) and often successful (one meta-analysis found most studies of charter schools showed improved student outcomes).
Myki Vs Free PT
At least 52 percent of ticket revenue goes to pay for the ticket system, not the actual PT system itself. This is ridiculous. PT should be free….
Let me tell you / how it will be / There’s one for you / nineteen for me …
Ooh-ooh I’m the taxman.
Ken Henry is a dude from Taree. He likes wombats. 
He is also the head of the Treasury. The Treasurer asked him to do a big old review into what’s what in the tax system, and what we should do next.
Continue reading Let me tell you / how it will be / There’s one for you / nineteen for me …
Haiti and three kinds of development aid
Haiti was hit by an earthquake of magnitude 7.0 last week. The death toll estimate in this morning’s newspaper stands at 200,000. We can only hope that the estimate cycle is at its peak, and it will be revised down later.
Earthquakes registering on the Richter Scale at 7.0 are rare but not unheard of. There were 16 Earthquakes of this magnitude or more in 2009. Six people died in Japan when an earthquake measuring 6.8 hit there recently. The disaster is as much the poverty and ill-rule in Haiti.
Cheap property
People of my age tend not to own property. But, increasingly, they want to.
Here’s what you get for a smigden under $800,000 in North Fitzroy:
Here’s what you can get for a smidgen under $200,000 in Ballarat: Continue reading Cheap property
Rolls Royce Drivers are Baby Killers
You can say this for capitalism. It’s a civilising influence.
Back in the day, when people wanted to demonstrate their power, they’d sack a few local villages, slaughter the menfolk, and hang the plundered booty from the ramparts.
The modern-day descendants of these megalomaniacs are calling for more market research, making the logistics budget lean, and driving a Mercedes.
It could be a lot worse. Demonstrating your power by compelling a factory-full of Germans (with compulsory superannuation and health insurance) to do eight-hour days until your new SLK is ready is not such an ill.
But as our civilisation become more civilised, our moral quandaries grow more subtle. Continue reading Rolls Royce Drivers are Baby Killers
Flaky Myki
Even though the Metcard is probably the last functional vestige of the public transport system, it is to be severed. Its replacement is a malformed, grossly over-priced, hideous new appendage.
Maybe I’m being a bit unfair. I don’t know if the new system will work or not. But I have my doubts… Continue reading Flaky Myki
# Bling-a-Ding-Ding #
Bling isn’t for everyone. The Atlantic reports that University of Chicago economists found that black families spent 25 % more on BMWs, finger-rings and Yves Saint Laurent than a white family of the same demographic.
They tested this finding out in a bunch of other circumstances. They found rich white people in South Carolina spent far more on bling than those in California. A theory started to emerge.
Conspicuous consumption is stronger among people from social groups that are on average, poorer. It’s why Jay-Z video’s have Rolls Royces in them. He’s from the projects. It might explain why the Chinese are so keen to buy cars. It could even explain why, back in the day this lady’s great-great-great-grandfather thought it would be totally sweet to have a hat made of gold. Suck on that, peasants!
The price of anarchy / The magic of roundabouts
Anarchy comes with a price. Lawyers, economists and political scientists believe this. This is what drives the congresses and senates and cabinets and presidents to make laws.
Continue reading The price of anarchy / The magic of roundabouts
Tit for Tat. Take that!
On the internet I found this video:
http://www.huffingtonpost.com/2009/10/06/cab-vs-pedicab-road-rage_n_311303.html
It lies at the centre of the circled wagons of pop culture. It was linked to from bikesnobnyc. It was filmed outside of Dave Letterman’s studio. And of course the Fox video cameras were there because of the recent Letterman sex-blackmail scandal.
It documents a road rage incident, wherein two boofheads in baseball caps bash and berate each other to an accompanying cacophony of censorious bleeps. Continue reading Tit for Tat. Take that!
GDP?
GDP doesn’t make us happy. Economics denies the enjoyment we get from stuff that is free: sunsets, conversation, going for a walk.
“Judging progress by GDP is like judging an orchestra by how loud it is.”
Continue reading GDP?
Krugman – what’s wrong with economics
I studied economics. Then I worked at Treasury. So I should know about economics. But instead I find it confusing.
There are two types of things I find confusing, normally. One: things that are complicated. The other: things that don’t make sense.
Fortunately, Paul Krugman has just written an article in the New York Times which confirms what I hoped. Turns out large parts of economics don’t make sense! Krugman has good evidence for how ridiculous some economic theory is, in the form of the financial and economic crises we’re having.
This makes me feel heaps better about not getting it. The article goes through some of the biggest, dumbest ideas in contemporary economics and calmly explodes them. Continue reading Krugman – what’s wrong with economics
Bargain!
Have you ever gone across town to get a bargain? Chances are you spent more on time and petrol than you saved. Have you ever wondered why?
Thomas the Think Engine 