Oz Blog News Commentary

Articles from John Quiggin

Be careful what you wish for

July 11, 2024 - 13:15 -- Admin

The third in the famous trilogy of spurious Chinese curses that begins with “May you live in interesting times” is “May all your wishes come true”. I may have triggered this curse with a piece I wrote for The Conversation in March. headlined “Dutton wants a ‘mature debate’ about nuclear power. By the time we’ve had one, new plants will be too late to replace coal” which ended

Why neither growth nor degrowth make sense as long-term objectives for Australia’s economy

July 11, 2024 - 13:12 -- Admin

My latest in The Guardian

henever I mention concepts such as gross domestic product (GDP), there’s a high probability that arguments about the merits of “growth” and “degrowth” will erupt. Almost invariably, these arguments are stuck in a conceptual framework that’s 50 years out of date, or even more.

Low inflation targeting is such a dubious idea. Why did the Reserve Bank adopt it in the first place?

July 7, 2024 - 11:37 -- Admin

From The Guardian

The release of recent data suggesting that inflation appears to be stuck at 4%, above the Reserve Bank of Australia’s target range of 2% to 3%, has raised plenty of concern among economic and political commentators. These commentators might be surprised to learn that many, perhaps most, macroeconomists who have looked at the question have concluded that a 4% inflation rate would be the ideal target, at least providing that wages and other incomes kept pace.