Weekend reflections

It’s time once again for weekend reflections, which makes space for longer than usual comments on any topic. As always, civilised discussion and no coarse language.

31 thoughts on “Weekend reflections

  1. Talking of scams…
    Now that the Federal Gov’t has dropped Telstra from the broadband tender, can all you economists tell me whether I’m right to feel pleased?

  2. Jim,

    I believe the example you cite involves people being irrational not markets. And we don’t need such obscure examples to know that people are frequently irrational. All we need to do is take a look at who they elect. Democracy and markets both enable stupidty, however that doesn’t mean that democracy and markets are a bad idea.

  3. TergeP

    I don’t think that when people say markets are irrational they mean the abstract entity is irrational in personal sense either. Aren’t they saying that people are being irrational (en masse)?

    The example quoted is a market of sorts but designed to enhance, or at least mask, the irrational response of the punters. However, the rules are plain. It’s an interesting design; simple but too difficult for a lot of people.

    As for markets and democracy, I agree it doesn’t necessarily make them a bad idea, or a good one either, the evidence is mixed. And our response can be mixed too – I think were more-or-less capable of that. The libertarian comment was meant to indicate that some people would find it ok a priori.

  4. John, today Rudd outlined the long awaited White Paper on how the government will tackle climate change and reduce emissions. For those who had high expectations of the Rudd government doing the wright thing must now feel bitterly disappointed. And pissing on the Greens did not help and nor is not smart politics. However, I must say it is a start in the wright direction even though I disagree with rewarding bad behaviour and handing out free permits to the worst polluters in this country when there are better ways of doing business.

  5. O6

    re Telstra being dropped from the tender – confess to being secrtely pleased myself. Have only been on the phone for HOURS AND HOURS AND HOURS – sent sideways, disconnected, queues, sub intellectual voice answeringb systems (got that decoded – you have to say operator 3 times) recently when I moved just to disconnect and it didnt happen when it was supposed to happen, and it didnt happen at the price it was supposed to happen, and people came for the wrong line on the wrong day when they werent supposed to come. I have a conspiracy theory that Telstra doesnt care about me or my time and Sol Trujillo acts like one of those Mad Mexicans from the movie ” the good, the bad and the ugly.” Remember the three way shoot out – well Sols got his guns pointed in two directions; the government and the consumers.

    Yep – secretly super happy. Id be happier if they turfed them out and bought it back though. A bit like State Rail – I note “functions are being brought back in house” following scathing report on corruption in todays SMH. So the Private tender process for track and train maintenance went askew? Maybe we can buy back communications too and should. Enough of the Telstra shenaningans. They are lucky to be earning their overpriced remuneration packages for pathetic service as is.

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