Economic Reform Australia Blog

Reforming Australia’s banking system

The economist Hyman Minsky told us that stability is destabilising so how do we build an anti-fragile financial system that serves the real economy? Scientists have told us that the degree of complexity and disorder in a closed system naturally increases over time, and that energy must be drawn … [Read more...]

The biggest intellectual scandal of our time

If mainstream economists had thought and behaved differently after 1980, then arguably the world would not be in its current state of disarray, and much of the social and environmental dislocation that we have witnessed over that time-span would not have occurred. In a nutshell, these economists … [Read more...]

Reserve Bank decision time: good luck Australia!

On the first Tuesday of every month (except January, when they are all off on their holidays) the governor of the Reserve Bank of Australia (RBA) meets with the deputy governor, the Treasury secretary and six other worthies (all appointed by the government) to decide what to do about something … [Read more...]