Events

July 21st, 2009

I’ll be speaking at two public events on Thursday. First there is the University of Wollongong Economic and Social Annual Public Lecture, 11:30 Thursday 23 July 2009 (details here) where I will speak on Climate Change & the Global Financial Crisis. Then I’ll be speaking in the Whitlam Institute Series on the Financial Crisis, in Parramatte, along with Steve Keen and Guy Debelle, on the topic “After the Crisis”. (details here).

Last week, I did a videorecording which was presented at the ACTU jobs summit on Monday 20 July. My paper is here (PDF).

Categories: Economics - General Tags:
  1. philip travers
    July 21st, 2009 at 13:51 | #1

    Deleted for incomprehensibility – I’ve been patient, but I’d like you to keep to a few sentences from now on

  2. Chris Warren
    July 21st, 2009 at 15:10 | #2

    My take on these issues is slightly different.

    1) Unemployment does not “… move in line with cyclical fluctuations in
    economic activity (with drawn out lags)”.

    It “ratchets-up” over the long-run as it soaks up its share of the burden of general macroeconomic instability (ie combination of CPI, Ue, per capita debt, CAD).

    2) Unemployment benefits have not increased and therefore the gap with pensions has worsened. OK, but the ALP is fixing this.

    The ALP is working hard to narrow this gap by … cutting pensions. This is about to occur by the ALP delinking pensions from 25% AWE to a new ABS statistic Cat:6466.0 The first release will be August this year?

    The real issue is that unemployment, pensions and minimum wages are all falling behind the Henderson Poverty Line and Parliamentary entitlements.

    3) careful job creation is the best (or only) option. This is consistent with the paper but I would float a Tobin Tax like initiative (or Government inflation-indexed bonds or something else) to support this.

    4) Since the late 1980’s education has been used to remove a slab of population from the labour force. This has artificially buffered unemployment. The adjustment is less than 1%, but needs to be accounted for.

    5) I think the point made by ACTU’s Geoff Lawrence (during media inteview after Minimum Wages fiasco), that maintaining pensions and wages protects consumer spending, should be included with any discussion re unemployment.

  3. Alice
    July 21st, 2009 at 21:15 | #3

    JQ says “It (unemployment) “ratchets-up” over the long-run as it soaks up its share of the burden of general macroeconomic instability (ie combination of CPI, Ue, per capita debt, CAD).”

    You bet it does.

    I agree – one has to ask exactly WHY it (unemployment rate) is so much higher since the 70s on average than it was before in the long boom (unemployment rate, that is). It cant be good and it cant be sustainable for it to keep increasing (and for economists to insist NAIRU is increasing – so what? So more people are accepted as being permanently structurally or friostionally unemployed to keep inflation low for those who benefit the most ie Business owners and higher income deciles?

    This philosophy of (get used to it) is a push down on wages and conditions of the lowest paid – and the measure would be a damn sight worse it you took into account tenuous and marginalised employment (underemployment) which is now so much more widespread…. flexible – nonsense. Flexible for who?

    And I wouldnt mind perhaps so much if I didnt know a lot of single women with kids bear the brunt of this.

    Im seriously looking for a female only party to vote for. They look after communities, look after the interests of kids and Im sick of the whole white male supremacy in politics (had a complete gutful actually).

    Where is the female ascendancy party (instead of the male mates parties who dont have a clue)?? Do a better job for our kids and their own kids we would….

  4. Alice
    July 21st, 2009 at 21:16 | #4

    friostionally shoudl read frictionally

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