tag:blogger.com,1999:blog-2546602206734889307.post7036994523362695047..comments2024-03-28T04:29:22.717+00:00Comments on mainly macro: Going backwards on fiscal rulesMainly Macrohttp://www.blogger.com/profile/09984575852247982901noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-2546602206734889307.post-69459680611824534602015-10-14T23:11:29.085+00:002015-10-14T23:11:29.085+00:00I'm here for calling it out on public spending...I'm here for calling it out on public spending and <a href="http://cupcakerecipesaustralia.blogspot.com/2015/10/christmas-hampers-2015-australia.html" rel="nofollow">investment</a> and how it all comes down to political semantics - cynical maybe.Bren + Lucyhttps://www.blogger.com/profile/05087946047217163847noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-42368270121854540322015-09-02T20:18:28.774+00:002015-09-02T20:18:28.774+00:00 «The simple answer is politics. All too often, Os... «The simple answer is politics. All too often, Osborne’s budget decisions seemed to have been designed to embarrass the opposition [ ... ] another example of the failure of the knowledge transmission mechanism that I talked about here. In this occasion I’m inclined to put some of the blame for this failure on academics.»<br /><br />Oh please, if the politics work, if the politics do embarrass the opposition, blame first and foremost the voters, if they fall for that kind of politics.<br /><br />For someone from the sacred warren of the central bank and the hallowed spires it must be natural to assume that the wise philosopher-kings like politicians and their advisers academics or not should be blamed if politics gets in the way.<br /><br />But in a democracy it is voters who should be accountable first and foremost for how they vote, and if their vote is susceptible to easy misdirection, too bad for them.<br /><br />Rather than trying to improve the level of awesomeness of the wise philosopher-kings, improving the learning and judgement of average voters is a much more robust if more time consuming route.<br />Blissexnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-83306659698676683422015-09-02T07:55:29.474+00:002015-09-02T07:55:29.474+00:00'public investment'?
How is that different...'public investment'?<br />How is that different from 'public spending'?StuartPhttps://www.blogger.com/profile/13748038209546648459noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-61706714846843703122015-08-31T18:40:44.257+00:002015-08-31T18:40:44.257+00:00Instead of raising rates, increasing CAR (Capital ...Instead of raising rates, increasing CAR (Capital requirements) could be used to reduce lending.Randomhttps://www.blogger.com/profile/04445772572707818311noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-70159204740569319102015-08-31T13:17:23.060+00:002015-08-31T13:17:23.060+00:00Talking of politics, the 'sensible rule' w...Talking of politics, the 'sensible rule' was set up under the influence of the 'sensible party' in the Coalition. Without the moderating effect of the LibDems or of economist Vince Cable in Government you can now see what the modern Conservative Party is all about: not being sensible.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-62941730648738822032015-08-30T18:20:04.309+00:002015-08-30T18:20:04.309+00:00"The big problem was to apply this rule in a ..."The big problem was to apply this rule in a situation when interest rates were at their lower bound. "<br />This is the new normal. I see no reason to raise them - keep them at zero forever.Randomhttps://www.blogger.com/profile/04445772572707818311noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-55746805343130634662015-08-30T12:00:18.203+00:002015-08-30T12:00:18.203+00:00That was not the point. Academics look at these jo...That was not the point. Academics look at these journals in judging other academics, so there is no incentive FOR ACADEMICS to write this kind of analysis. Governments could give them that incentive, but that really needs to be done through some institution - like a fiscal council.Mainly Macrohttps://www.blogger.com/profile/09984575852247982901noreply@blogger.comtag:blogger.com,1999:blog-2546602206734889307.post-23757180401527148922015-08-30T10:24:50.583+00:002015-08-30T10:24:50.583+00:00“papers like Jonathan and mine are not the kind of...“papers like Jonathan and mine are not the kind of thing that normally gets into the top journals”. Does anyone actually pay any attention to those journals? Bill Mitchell gave up submitting anything to journals long ago. I never look at them. I look at blogs like this one and anything else that looks interesting.Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.com