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Articles from Harry Clarke

Oil prices

January 10, 2015 - 18:08 -- Admin

There are elegant economic theories of how exhaustible resources such as oil are priced.  The Hotelling  (1931) Model* treats resources like oil as assets in the ground that, in competitive markets, must yield a return comparable with other interest-bearing assets. Then, ignoring extraction costs, the price of oil must increase secularly at the interest rate.

Getting back into blogging

January 10, 2015 - 18:06 -- Admin

I have been exceptionally lazy with respect to my blogging in recent months.   I am determined to get things moving again!

For those who don’t know I took a package from La Trobe University and have left. I will be doing some consulting in 2015 and will be based in the Department of Economics at the University of Melbourne (Room 345, The Spot).  I will teach a few units at the University of Melbourne in 2015.

Chinese tariffs on coal there & gone

October 22, 2014 - 09:22 -- Admin

An interesting feature of the proposed Australia China free trade agreement is that so little is at stake. Most of Australia’s exports to China and most of China’s exports to Australia are tariff free. The catch is the restriction on Chinese purchases of Australian housing and land and Chinese foreign investments generally which are subject to discriminatory restrictions.  But if Australia reduced these restrictions what could China offer in return? Well, not much.

Empathy & sound ethics

October 16, 2014 - 09:40 -- Admin

I have been thinking about empathy and reading the psychologist Paul Bloom on this. Empathy is a type of bias – it evokes compassion for those close to us and to a lessor extent to those we can see but who need not be at all close to us in terms of actual ties – e.g. asylum seekers. It leaves unconsidered those facing peril in other countries (or awaiting resettlement in refugee camps in other countries) even though these people may face greater peril than asylum seekers.