April 2, 2020

If the government pays citizens who are not working, and refunds businesses who employ people who have nothing to do, this is not transferring wealth. For no wealth has been created. So where is the money coming from? It is not coming from taxes. Our taxes have already been spent. In fact, our governments always spend more than they tax; that is what deficit budgets are. Just when we thought the government would balance the budget and produce a surplus, they are spending without limit. Money they don`t have. So where is it coming from?

Wealth derives from productive work. We specialize in what...

September 24, 2015

We are pleased when the Reserve Bank keeps interest rates on hold at their low, low levels. For we know that low interest rates encourage consumer spending and that is good for the economy. Where did we learn these fallacies? And why are they perpetuated by our politicians and financial journalists?

 

Our new Prime Minister, Malcolm Turnbull, has indicated that he wants us to be optimistic about the future and his government’s ability to create a prosperous, high wage economy.

 

Now a high wage economy cannot be achieved by fiat. It cannot be achieved by increasing the minimum wage and having that...

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