An offer he can’t accept

August 29th, 2016 20 comments

Now that the Greens and Xenophon group have rejected the idea of a plebiscite, the only chance of getting one through is if Bill Shorten agrees. Turnbull obviously hopes to wedge Labor on this, by saying that this is the only way of getting equal marriage through the Parliament, and that there is no way he will allow a free vote on the issue. What should Shorten do?

In my (not original) view, Shorten should announce support for a binding plebiscite beginning with a bound vote of both parties. That is, the Parliament should pass legislation stating that equal marriage will come into effect immediately on receiving majority support in a plebiscite. Labor’s support should be conditional on all Coalition MPs voting for the legislation.

It’s obviously unlikely that Turnbull would accept such an offer or that he could deliver on it if he did. So, the primary effect would be to point up the bogus nature of the proposed plebiscite. But, supposing he did accept, I don’t see that this would be a disaster. There’s no fundamental principle that plebiscites are a bad way of deciding things. And the whole idea of a splecial “free vote” makes it clear that this set of issues has always been regarded as exceptional,

It’s true that the campaign over a plebiscite would be divisive. But this has been a divisive issue ever since Howard ramped it up more than a decade ago. An outright win at a plebiscite might be a good way of silencing the haters.

To repeat, though, there’s almost zero chance of a plebiscite happening on these terms. For Turnbull, it’s an offer he can’t accept.

Categories: Oz Politics Tags:

Sandpit

August 29th, 2016 1 comment

A new sandpit for long side discussions, conspiracy theories, idees fixes and so on.

Categories: Regular Features Tags:

Monday Message Board

August 29th, 2016 3 comments

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.

Categories: Regular Features Tags:

Nitpicking on nominal GDP targeting

August 25th, 2016 43 comments

Writing in the AFR, economics correspondent Jacob Greber begins his discussion of the Xenophon proposal with the assessment “What a stupid idea”. Given that he is dismissing proposals with wide support in the economics profession (including economists as different as me and Warwick McKibbin in the Australian context) one would expect that he had a knockdown argument to present. In fact, he offers a valid, but minor nitpick and a string of confusions and errors.

The nitpick relates to the distinction between nominal GDP growth, as reported by ABS, and the way the term is commonly used in the context of monetary policy discussion, to refer to the sum of the inflation rate and the real rate of GDP growth. Inflation is typically measured by the CPI. However, the statistical nominal GDP is associated with a different inflation measure, the GDP deflator, which is heavily influenced by export prices. So, a policy that targeted the statistical measure would imply trying to reduce growth when export prices boomed, and increase growth when they fell. In most times and places, the difference is too trivial to matter, but in the context of the recent minerals boom in Australia, it was substantial. So, I’d suggest we really want to use the phrase “nominal growth targeting” with nominal growth spelt out as the sum of CPI inflation and real GDP growth.

After that valid point, we have a mess of confusions and contradictions. First, Greber objects to Xenophon’s proposal on the basis that it would push up housing prices. If this is to be taken seriously, it means that the RBA should be targeting asset prices as well as CPI inflation. While there’s a good case to be made here (I discussed the issues in a paper with Stephen Bell quite a while back) it contradicts the central claim that everything is fine with inflation rate targeting.

Making the contradictions even worse, Greber notes that inflation has been well below the target range for some time. That is, under an inflation targeting system, the Reserve Bank should be cutting rates. But Greber appears to oppose this, while conceding that “To be fair, there is a legitimate debate to be had about how far and for how long inflation should range outside the current band”. In this context, the question of a shift to nominal growth targeting is a red herring. Real growth (about 2 per cent) is only marginally below the likely long term trend (2.5 per cent), so a monetary policy that targeted both growth and inflation would, if anything, be a little less expansionary than a strict inflation target

The obvious problem being ducked here is that, if the RBA sticks to inflation targeting, it may well have to cut interest rates all the way to zero, as most other central banks have already done. So, the temptation is to accept a long period when we are below the target rate. But that, in effect, is switching from a 2-3 per cent target to a 0-3 target, something for which no real justification has been given.

Like Bernard Keane and Glenn Dyer to whom I responded previously, Greber makes much of Australia’s special circumstances, treating nominal GDP targeting as (to quote Keane and Dyer) as “a foreign solution”. This piece of economic exceptionalism is surprising coming from a haven of orthodoxy like the AFR, and even more surprising in the context of monetary policy. Inflation targeting, central bank contracts and 25-basis point interest rate adjustments aren’t Australian inventions. We adopted this approach at the same time as the rest of the world and for the same reasons. We’ve had much better outcomes as Greber notes, but there’s nothing to suggest that inflation targeting is the main reason.

On the contrary, inflation targeting has evidently failed nearly everywhere in the developed world, in at least three ways
* it has not kept inflation within the target range
* interest rates have been driven to zero or below, so that “emergency measures” like reliance on open market operations now appear to be permanent fixtures
* it has not delivered on the promise that targeting inflation would also deliver stable GDP growth

The first of these problems is already evident in Australia, and the second appears imminent. We should think twice before saying that, since nothing has gone badly wrong so far, we should stick with our existing policy framework.

Greg Jericho in The Guardian has some similar thoughts.

Categories: Economics - General Tags:

Same old, same old on university places

August 24th, 2016 62 comments

Another day, another article complaining that we have too many young people going to university. I’ll pick this one by Nicholas Stuart, not because it’s particularly good or bad, but because it covers all the main points. Then I’ll ask, the following question:

If you substitute the word “Menzies” for “Dawkins”, is there anything in the article that wasn’t being said 50 years ago, when the proportion of young people going to university was about a quarter of what it is now (that’s a guess, which I’ll try to correct when I get time)?

I’m reaching back to my childhood here,so I can’t remember when I first heard these points being raised. But the way in which they were discussed made it clear they were cliches even them. Those points include massification, dropout rates (higher then than now, I think) the large numbers of graduates doing jobs that didn’t require a degree (Arts graduates driving taxis was the standard example back then), the merits of getting a trade instead of a degree, the role of the university as part of the capitalist system and the corrupting effects of Commonwealth money.

Categories: Economic policy Tags:

Living longer

August 23rd, 2016 60 comments

I’ve been invited to give a talk on the topic of challenges posed by an ageing population. This issue has been around ever since I can remember and, in a literal sense, it’s one I am pretty concerned about. Throughout my life I have, like the rest of the population, been aging at a rate of one year per year, and this poses plenty of challenges. On the other hand, as someone said recently, getting older may have its unpleasant aspects but it’s a lot better than the alternative.

Of course, when pundits talk about an ageing population, they do not mean that we are individually getting older but that we are not dying as soon as we used to. The result of this (and subject to demographic fluctuations) is that the average age of the population is increasing.

While I was a little snarky in my opening para, this is, in fact the correct way to think about things. We are, mostly, living longer and this creates a bunch of individual and social opportunities, choices and challenges. The two big ones are:

* How should the extra years of life be allocated between additional education, additional years of work (including household work most notably childraising) and additional years of retirement?

* What are the implications for our personal health and for the health care system.

I’ve looked at the first of these questions on quite a few occasions and concluded that the problems, if any, relate to the way the labour market works (or rather fails to work) for older worker

On the second, the operating assumption in much of the discussion seems to be that people will live longer, but that their health, at any given age, will be much the same as that of previous cohorts. This is obviously nonsensical. The reason the previous cohorts died earlier (on average) is that their health was worse. If people live longer, this will mostly mean more years of healthy life.

One possible exception I’ve been concerned about is dementia caused by Alzheimer’s and related diseases. Perhaps that’s inevitable deterioration rather than a product of ill health. But the news here is good. Age-specific rates of Alzheimers have been declining for the past 25 years as general health improves.

One remaining issue is that people with severe dementia are surviving longer than they used to, as a result of improved care, and this is socially costly. However, this is a once-off shift that has already happened, so the extra cost has been incurred already. Increases in lifespans associated with improvements in general health, including reductions in the age-specific frequency of dementia should not have any additional cost.

This is, in fact, an illustration of a more general point. The increase in health care expenditure we observe is the result of the development of new, and costly treatments. Unsurprisingly people want these treatments and are willing to pay for them, either privately or through the public health system. To regard this as a problem is like complaining about the availability of flat-screen TVs on the basis that buying them will increase our entertainment costs.

Categories: Economics - General Tags:

Abandon inflation targeting while we still have time

August 22nd, 2016 49 comments

Back in 2012, I wrote a piece arguing that Australia should abandon the policy of inflation rate targeting, and switch to one in which the target was the level of nominal GDP. As I argued then, inflation targeting is part of a package deal involving a number of propositions, most particularly
* Macroeconomic management should be left to an independent central bank
* Successful inflation targeting will also stabilize real GDP, and therefore fulfil the dual mandate of price stability and full (or as full as possible) employment
* The best policy approach for central banks involves modest regular adjustments of a key interest rate. In Australia this is the cash rate, which is the overnight money market interest rate.

The idea of nominal income targeting has recently been put forward by .Nick Xenophon and economist Danny Price, in relation to the contract with the new Governor of the Reserve Bank, Phil Lowe. The article mentions my support, and I commented on an earlier draft.

Writing in Crikey, Bernard Keane and Glenn Dyer criticise the idea, making three points
(a) Unlike other countries, we are not yet at the zero lower bound, so we can continue using interest rate policy
(b) Macroeconomic outcomes in Australia have been pretty good under inflation targeting
(c) A nominal GDP target can’t be achieved using monetary policy alone, we need fiscal policy as well.

My response to point (c) is “Yes, that’s the point of the shift. When we dump inflation targeting, we dump the entire package, including exclusive reliance on monetary policy”. On (a) and (b), it seems to me more sensible to make the change when we can, rather than be in the position of most countries, where inflation targeting remains notionally in force, but in practice the only instrument available is open market security purchases (aka quantitative easing). And in all those countries, macro outcomes in the inflation targeting era have ranged from poor to disastrous.

Although Australia is doing well right now, interest rates are heading down, and would certainly hit zero fast in the event of a crisis. So why not fix our policy now, while we still have time.

Categories: Economic policy Tags:

Against Locke, Part 3

August 15th, 2016 45 comments

The third and final instalment of my critique of Locke’s theory of appropriation/expropriation is up at Jacobin. I turn my attention from Locke to Jefferson, Locke’s most important follower, in practice as well as theory. By opening the Louisiana purchase for agricultural settlement, Jefferson put to the test Locke’s theory of appropriation to a practical test. In particular, the vastness of the land, compared with the modest requirements of the ideal Jeffersonian farm family seemed to support Jefferson’s prediction that the new land would be enough to last a thousand generations. But of course the opposite was true: in less than one generation, the United States had overspilled the boundaries of Jefferson’s purchase and was embroiled in a civil war that started with battles over the newly opened land. To restate the conclusion of the previous instalments, Locke’s theory was designed to justify expropriation and enslavement. Neither Locke nor epigones such as Nozick and Rothbard can provide a coherent theory of just appropriation of property.

Categories: Philosophy, Politics (general) Tags:

The relative rationality of Malcolm Roberts

August 11th, 2016 292 comments

Among other interesting results, the recent election gave a Senate seat to One Nation member Malcolm Roberts. Roberts is notable for his expressed belief that global warming is a fraud produced by a global conspiracy of bankers seeking to establish a worldwide government through the United Nations.

Unsurprisingly, Roberts has copped a lot of flak for these statements. But his position seems to me to be more credible than that of the average “sceptic”.
Read more…

Categories: Boneheaded stupidity, Environment Tags:

The failure of privatisation and the case for a fully public TAFE system

August 11th, 2016 26 comments

I have a new article in The Conversation, riffing off ACCC chairman Rod Sims’ recent denunciation of privatisation policy in Australia. The Conversation’s ran with the headline “People have lost faith in privatisation and it’s easy to see why“. To be slightly more precise, when privatisation started in the 1980s, most people had an open mind on the issue – there was plenty of dissatisfaction with public enterprises like Telecom Australia. As they experienced privatisation, they became more hostile and, eventually, implacably so, even as the political class remained convinced of the merits of the idea. The successive defeats of the Bligh (Labor) and Newman (LNP) governments in Queensland illustrate the point. The rare cases when privatising governments have been elected or re-elected usually arise only when the Opposition is utterly unelectable (Baird in NSW for example).

Part of Sims speech and my article referred to the continuing disaster of for-profit vocational education. Right on cue, the day the piece came out, the Victorian government terminated the contracts of another 18 shonky providers (though they are still registered with the national regulator ASQA), with the students being directed to the public TAFE system.

Billions of dollars are being wasted and thousands of lives ruined by this continuing policy disaster. Yet, it seems, no one in authority is willing to admit that the whole idea of publicly funded for-profit education is a disaster, guaranteed to generate scams and rorts on an industrial scale. The whole system needs to be shut down and replaced by a fully public TAFE system. The minority of for-profit providers who are doing a decent job could be hired as subcontractors to teach TAFE courses.

Categories: Economics - General Tags:

Can this census be saved?

August 10th, 2016 71 comments

It appears that, having crashed last night with only about 10 per cent of households having submitted data, the Census website is now off the air indefinitely. It’s hard for me to see how this exercise can be salvaged. Almost certainly, lots of people who tried and failed to fill in their forms last night will be unwilling to do so again, especially in the absence of any coherent explanation for the failure. It’s looking increasingly as if the only option will be to give up and try again in five years time. Coincidentally or not, a ten-yearly census was exactly what the leadership of ABS was suggesting a couple of years ago.

This fiasco seems to have “reform” written all over it, from the new entrepreneurial leadership of ABS to the contracting out of vital functions to the benign/malign neglect displayed by the Abbott-Turnbull government. Peter Martin is very good on this, as is Chris Graham at New Matilda.

Categories: Economics - General Tags:

Sandpit

August 8th, 2016 13 comments

A new sandpit for long side discussions, conspiracy theories, idees fixes and so on.

Categories: Regular Features Tags:

Monday Message Board

August 8th, 2016 42 comments

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.

Categories: Regular Features Tags:

Book report

August 7th, 2016 6 comments

I’ve been getting lots of free books lately, and the implied contract is that I should write about at least some of them. So, here are my quick reactions to some books CT readers might find interesting. They are

The Great Leveler: Capitalism and Competition in the Court of Law by Brett Christophers

The Rise and Fall of American Growth:
The U.S. Standard of Living since the Civil War
by Robert J. Gordon

The Sharing Economy:The End of Employment and the Rise of Crowd-Based Capitalism by Arun Sundararajan

Econobabble: How to Decode Political Spin and Economic Nonsense by Richard Denniss

Generation Less: How Australia is Cheating the Young by Jennifer Rayner

I’ll be on a panel discussing the last two of these at the Brisbane Writers Festival, Sep 11-16.

Read more…

Categories: Books and culture Tags:

Second thoughts

August 6th, 2016 29 comments

In a recent post, here and on Crooked Timber, I remarked on the fact that hardly any self-described climate sceptics had revised their views in response to the recent years of record-breaking global temperatures. Defending his fellow “sceptics”, Crooked Timber commenter Cassander wrote

When’s the last time you changed your mind as a result of the evidence? It’s not something people do very often.

I’m tempted by the one-word response “Derp“. But the dangers of holding to a position regardless of the evidence are particularly severe for academics approaching emeritus age[1]. So, I gave the question a bit of thought.

Here are three issues on which I’ve changed my mind over different periods

* Central planning
* War and the use of violence in politics
* The best response to climate change
Read more…

Categories: Environment, Metablogging, World Events Tags:

Dealing with racism

August 4th, 2016 36 comments

The Senate results are in, and Pauline Hanson’s One Nation has won four seats. That’s not a disaster in itself. The point of democracy is that everyone gets a say, including bigots and racists. One Nation members, including Hanson herself, have been elected to Parliament before now, without doing any great harm.

That’s because the major parties have, until nowl taken a principled stand against racism, putting One Nation last in their preference allocations and refusing to do deals. Tony Abbott took the fight against One Nation even further (too far in my view) pushing the prosecution of Hanson for alleged breaches of the electoral act (she was convicted and jailed, but ultimately freed on appeal).

Following the Senate election, however, it will be impossible for the government to pass legislation opposed by Labor and the Greens unless they have the support of the One Nation party. Already, the Oz is pointing out how convenient it will be for Turnbull to be able to bargain with Hanson for her four votes, as opposed to the splintered remnants of the Palmer United Party in the last Senate.

The correct response, advocated by the LNP in relation to the “tainted” votes of Craig Thomson and (in Queensland) Billy Gordon, would be to nullify One Nation votes by directing four government Senators to cast opposing votes. Of course, that’s not going to happen. Failing that, the only response that avoids complicity in racism is a refusal to have any dealings with One Nation. That is, the government while accept One Nation’s votes in favor of government legislation, they should not discuss it or modify it, let alone offer support for One Nation proposals.

Of course, the same applies to Labor on the handful of issues (such as a Royal Commission into Banking) where they might be in agreement with One Nation. If securing a majority on any particular issue involves making deals of any kind with Hanson, it would be better to lose.

It seems likely, however, that Turnbull is going to treat One Nation, for the first time in Australia, as a normal political party, and to negotiate with Hanson as an equal. That would be a new low for him, and for Australia. And, sooner or later, it will come back to bit him and the LNP. For an object lesson in the dangers of courting racist votes while maintaining a claim to be non-racist, he need only look at the US Republican party,

Read more…

Categories: Oz Politics Tags:

Should the census be compulsory?

August 2nd, 2016 71 comments

There’s been a lot of discussion about the ABS decision to retain names and addresses in the Census until 2020 rather than deleting them more rapidly as in the past. Although the details differ, there’s been a dispute of this kind before every Census I can recall. Rather than debate the details, I’d like to think about the question: should the Census be compulsory, and if not what kind of requirement should there be?

Read more…

Categories: Oz Politics Tags:

Monday Message Board

August 2nd, 2016 23 comments

Another Monday Message Board, a little late. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.

Categories: Regular Features Tags:

For his own self-respect, Turnbull should quit

July 29th, 2016 85 comments

As I mentioned in my last post, Turnbull’s narrow win has left us with a government standing for nothing but delaying various inevitable outcomes, including
* equal marriage;
* participation in global action on climate change; and, most notably
* Turnbull’s removal from office, whether by voters or, more likely, by his own colleagues.

The “economic plan” on which the government was supposedly elected consists of a single element, a cut in company taxes mostly deferred far enough beyond the forward estimates to dodge the question of how it will be paid for. In any case, it’s dead in the water, as, in all likelihood is the pretext for the double dissolution, the ABCC bill.

Turnbull’s lame duck status was made farcically clear by Cabinet’s non-decision on Kevin Rudd’s proposed nomination as UN Secretary General. The Right-dominated party didn’t even bother to overrule Julie Bishop (and, pretty obviously, Turnbull’s own inclination). Instead, they told Turnbull to make a “captain’s call”, while making it clear that the wrong call would be fatal.

If Turnbull had any self-respect left, he’d resign and let this crew sort out their own mess. Instead, he gets to hang on in office, at the price of being made a fool of on a daily basis.

Categories: Oz Politics Tags:

Crossing the floor

July 28th, 2016 16 comments

Back in the day, it used to be claimed as one of the glories of the Liberal and National Parties that their MPs had freedom to vote as they chose, while Labor MPs were bound by Caucus solidarity, except in the case of an explicit “conscience vote”, which has been traditionally confined to issues of (sexual) morality.

I had the impression that his freedom was now only a memory in the LNP, but this story has George Christensen threatening to cross the floor over the government’s superannuation reforms. The defeat of a key budget measure in the House of Representatives is (I would have thought) tantamount to a vote of no confidence in the government. Nevertheless, the story goes on to cite Barnaby Joyce as defending Christensen’s right to vote against the government and says that Joyce himself has crossed the floor 28 times.

I’m genuinely bemused here. If it’s OK to vote against budget policies, what can it mean to say that Liberal MPs are not free to vote as they choose on equal marriage? What is the penalty for doing so? If there is none, why don’t we see anyone willing to do so?
Read more…

Categories: Oz Politics Tags:

We don’t need another Royal Commission

July 27th, 2016 20 comments

I haven’t had much to say about Australian politics since the election. That’s because I see the Turnbull government as a nullity, which will achieve nothing however long it survives.

Turnbull’s first substantive action since the election (in fact, since the election was called) only confirms me in this view. It’s a knee-jerk reaction to a TV program, the Four Corners report documenting appalling abuse in a juvenile detention facility in the NT. Rather than considering any coherent attempt to consider and address the issues, Turnbull offered the most clichéd possible response “when in doubt, call a Royal Commission”. He made it lazier still, by proposing that the Commission focus on this single facility, and has now reluctantly agreed that it should look at the NT as a whole.

For once, I’m in agreement with the Oz. We already have a Royal Commission looking at institutional abuse of young people, which could easily have its terms extended to cover this.

More importantly, we don’t need any more Royal Commissions to establish that institutions are failing young people in trouble. The real issues are much more intractable than finding and punishing some abusers.

To start with, there’s the fact that, throughout the country, services for young people in trouble are chronically underfunded and overstretched. If Turnbull had announced that the money he was planning to give to corporations would be used to help young people instead, that would have been some genuinely decisive action. But that would be politically impossible.

Still, at least in the case of youth services, it’s obvious what needs to be done. The bigger problems of social breakdown and family crisis are much more complicated and difficult to handle. But these aren’t the kinds of question that can be handled by a press release or a Royal Commission.

Categories: Oz Politics Tags:

Monday Message Board

July 25th, 2016 70 comments

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.

Categories: Regular Features Tags:

Do climate sceptics exist?

July 22nd, 2016 60 comments

June 2016 was the hottest month globally since records began in 1880, and marks the fourteenth record month in a row. For the great majority of people who’ve been following scientific findings on climate, there’s no great surprise there. There is very strong evidence both for the existence of a warming trend due mainly to emissions of carbon dioxide, and for the occurrence of a peak in the El Nino/Southern Oscillation index. Combine the two, and a record high temperature is very likely.

But suppose you were a strongly sceptical person, who required more evidence than others to accept a scientific hypothesis, such as that of of anthropogenic climate change. Presumably, you would treat the evidence of the last couple of years as supporting the hypothesis. Perhaps this supporting evidence would be sufficient that you would regard the hypothesis as confirmed beyond reasonable doubt, perhaps not, but either way, you would be more favorably inclined than before. And, if you were a public commentator, willing to state your views honestly, you would say so.

Does such a sceptic exist? I haven’t seen one, although I follow the debate fairly closely. In fact, in the 25 years or so in which I’ve been following the issue, I can only recall one instance of someone described as a “sceptic” changing their view in the light of the evidence. And of course, his fellow sceptics, who’d been promising that his research would reveal massive errors in the temperature record, immediately decided that he’d never really been one of them. In any case, while Muller was and remains a scientific sceptic, he’s no longer a climate sceptic.

Operationally, it’s clear that the term “climate sceptic” means someone whose criteria for convincing evidence are those set out by the Onion.

I’d be happy to be proved wrong (by counterexample), but as far as I can see, if the ordinary usage of the term “sceptic” is applied, the world population of genuine climate sceptics is zero.

Categories: Environment Tags:

Sandpit

July 21st, 2016 58 comments

A new sandpit for long side discussions, conspiracy theories, idees fixes and so on.

Categories: Regular Features Tags:

Nuclear math doesn’t add up

July 20th, 2016 112 comments

Writing in the conservative US magazine National Review, Robert Bryce of the Manhattan Institute criticises the Democratic Party platform for omitting any mention of nuclear power, and accuses the Democrats of failing to “do the math”. Unfortunately, although he throws some numbers about, he doesn’t do any math to support his key conclusion

But even if we doubled the rate of growth for wind and solar — and came up with a perfect method of electricity storage (which of course, doesn’t exist) — those renewables aren’t going to replace nuclear energy any time soon

So, I’ll do the math for him.
Read more…

Categories: Environment Tags:

Last of the Mohicans

July 18th, 2016 15 comments

I started this blog about 14 years ago in mid-2002, when the world of the Internet was young. On a whim, I thought I’d look at the Wayback Machine which archived the site (then hosted on Blogspot) in July 2002. Amazingly, some of the links still work, and some of the posts are still relevant today. On the other hand, I don’t think anyone on the blogroll is still going as an independent blogger. I’ve been a bit slow lately, but it looks as though I’m the last of my kind.

Categories: Metablogging Tags:

Monday Message Board

July 18th, 2016 43 comments

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.

Categories: Economics - General Tags:

Losing our AAA credit rating is not a harbinger of doom …

July 14th, 2016 64 comments
Categories: Economic policy Tags:

Monday Message Board

July 11th, 2016 68 comments

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.

Categories: Regular Features Tags:

Anti-militarism

July 4th, 2016 41 comments

100 years after the Battle of the Somme, it’s hard to see that much has been learned from the catastrophe of the Great War and the decades of slaughter that followed it. Rather than get bogged down (yet again) in specifics that invariably decline into arguments about who know more of the historical detail, I’m going to try a different approach, looking at the militarist ideology that gave us the War, and trying to articulate an anti-militarist alternative. Wikipedia offers a definition of militarism which, with the deletion of a single weasel word, seems to be entirely satisfactory and also seems to describe the dominant view of the political class, and much of the population in nearly every country in the world.

Militarism is the belief or desire of a government or people that a country should maintain a strong military capability and be prepared to use it aggressively[^1] to defend or promote national interests

Wikipedia isn’t as satisfactory (to me) on anti-militarism, so I’ll essentially reverse the definition above, and offer the following provisional definition

Anti-militarism is the belief or desire that a military expenditure should held to the minimum required to protect a country against armed attack and that, with the exception of self-defense, military power should not be used to promote national interests

I’d want to qualify this a bit, but it seems like a good starting point.

Read more…

Categories: World Events Tags: