Tag Archives: government budget

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