Tag Archives: minimum wage

Real Economies, Faux Economics and the Destruction of Universities

[No taker for this yet. The number of outlets for seriously non-mainstream thinking seems to be shrinking.]

This year’s Nobel prize in economics spotlights a core deficiency in mainstream ‘neoclassical’ economics, one of many. It is pseudo-science. It needs to be banished from government, universities and our thinking. Defensible alternatives are available, but marginalised.

The prize was awarded for showing that higher pay can increase employment. This is a direct contradiction of the simplistic ‘law’ of supply and demand, a core concept of the dominant ‘neoclassical’ school of economics.

Supposedly, if the price of cabbages increases then fewer cabbages will be purchased. Similarly, if the price of hiring someone goes up, then fewer people will be hired. Well, not always.

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The Independent path to effective democracy, and survival

[Published at Pearls & Irritations, 20 Nov]

Helen Haines and Voices for Indi

A way to break us out of the ossified and toxic parliamentary culture and the fearful stupor of the electorate. A way to restore fluid and functional governance.

Both John Menadue and Michael Keating make strong points, as insiders, about Australia’s increasingly undemocratic politics. Perhaps an outsider’s perspective can reveal deeper causes and issues that clarify the situation, and offer a way forward that does not depend on begging the powerful.

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