Category Archives: Economic theory

A super con – The Monthly

Why compulsory superannuation benefits the financial industry and the rich at the expense of everyone else Published at The Monthly By Warwick Smith Tuesday, 24th March 2015 Superannuation is mostly a con. It involves the funnelling of vast amounts of … Continue reading

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A sustainable budget surplus is beyond the government’s control, as Joe Hockey has come to realise

Warwick Smith Originally published at The Guardian. Joe Hockey, the treasurer, now concedes he may not be able to deliver his promised budget surplus any time in the foreseeable future. This news is good for private savings because, when the … Continue reading

Posted in Australian politics, Economic theory | Tagged , , , | 2 Comments

Op-ed in The Australian that attacks my guardian article is incoherent

The below op-ed was published in last week’s Australian. It is critical of my piece in The Guardian the week before. I contemplated publishing a reply but after reading the piece properly there’s actually very little substance to reply to. … Continue reading

Posted in Economic theory, Op-ed, philosophy of economics | Tagged , , , , , | 1 Comment

Guardian article on economic myths

Repeat after me: the Australian economy is not like a household budget By Warwick Smith Originally published at The Guardian. Our political and economic thinking has been warped by bad analogies to the point where we can’t see the real … Continue reading

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Why the federal budget is not like a household budget – The Conversation

By Warwick Smith, University of Melbourne Treasurer Joe Hockey is experiencing difficult times. Deteriorating terms of trade and an uncooperative senate mean that he cannot deliver the surplus when he said he would and he cannot continue to cut government … Continue reading

Posted in Australian politics, Economic theory, Modern Monetary Theory | Tagged , , , , , | 5 Comments

The perils of the last human: flaws in modern economics

By Warwick Smith, University of Melbourne This article was originally published on The Conversation. Read the original article. Nietzsche’s much quoted line “God is dead” was not, as it is often presented, a statement of triumphant atheism but was a … Continue reading

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My latest at The Guardian questions the value of pursuing economic growth at all costs

Do we dare to question economic growth? We’ve all been so effectively sold the line that endless growth is essential to maintain and improve our quality of life. This couldn’t be further from the truth By Warwick Smith First published … Continue reading

Posted in climate change, Economic theory, Sustainability | Tagged , , , , , | 2 Comments