Category Archives: Economic theory

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

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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

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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

Guest appearance on Radio Roundup – Main FM

On Friday night I was the guest of Radio Roundup‘s Rusty Nails and Ben Boyang where we spent an hour talking about money. We covered a lot of territory including money creation, interest rates, real estate prices, quantitative easing and … Continue reading

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The perils of the last human – by Warwick Smith in New Philosopher magazine

Issue # 5 of New Philosopher is out today and in it is my piece about what we can learn from Nietzsche about modern political economy and climate change. For those of you who don’t know it, New Philosopher magazine … Continue reading

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‘Venditio’ by John Locke

This hard to find short essay by John Locke is very surprising in its brief yet sophisticated thinking with respect to market prices and morality. I put it here mostly as a reference for others who may struggle to find … Continue reading

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Budget vision

By Warwick Smith No other event equals the release of a federal budget for a clear statement of what the government really intends for the country. Almost everything else they do is smoke and mirrors. The budget tells us who … Continue reading

Posted in Australian politics, Economic theory, Inequality, political economy | Tagged , , , | 2 Comments