Author Archives: Nicholas Gruen

The decline and fall of Australian economics

I reproduce here a fine review of what seems like a fine book. I’m not buying the book because of the outrageous price the academic publishers are charging. It’s an interesting story of practical contribution – economics as clarified policy commonsense … Continue reading

Posted in Uncategorized | 1 Comment

The Royal Commission and the wages of complacency: Scandals as far as the eye can see

In 1943, back working where he’d been during the first world war, the now-famous economist John Maynard Keynes wrote to a friend: Here I am back… in the Treasury like a recurring decimal — but with one great difference. In … Continue reading

Posted in Uncategorized | 22 Comments

Monetary policy settings: hawks, doves and the seat of the pants

What’s at stake in monetary policy? The most obvious answer is “jobs and growth” – to coin a phrase. The idea is that, by meeting its target of low and steady (2-3%) inflation, the RBA tries also to keep us as … Continue reading

Posted in Blegs, Cultural Critique, Economics and public policy | 5 Comments

A new go at upgrading the stock of regulation

This post is worked up from a comment of mine on this Mandarin post on a new submission to the Thodey review intriguingly written by two Treasury officials in their own name. It’s an interesting and (my guess is) productive contribution. … Continue reading

Posted in Economics and public policy, regulation | 1 Comment

Rent Seeking in Elite Networks

Some more fascinating results in the ‘whodda thunk?’ category. You can track down the paper in various published and pre-published forms here. Note, while I’ve not changed any meanings, I’ve occasionally shortened a sentence without horsing around too much with … Continue reading

Posted in Uncategorized | 2 Comments

Competitive neutrality: Camels, pinballs, tilted playing fields and five minute arguments …

Cross posted from the Mandarin: I recently made a submission to the Productivity Commission’s inquiry into competition in finance. I wanted to suggest a very simple idea, that I thought could make a big difference. Moreover it came straight from Downtown Reformsville. … Continue reading

Posted in Uncategorized | 7 Comments

Comment from today’s Banking Day: Plain vanilla a super flavour

The current round of hearings at the royal commission into misconduct in the banking, superannuation and financial services industry has been notable on many levels. Thus far, the much anticipated grilling of the industry super funds has been a fizzer … Continue reading

Posted in Economics and public policy | 15 Comments