Treasurer Wayne Swan is fond of telling anyone who will listen how much he wants bank customers to “walk down the road and get a better deal”. This sums up the government’s vision for reforming the banking sector: relying on consumers to drive change. Unfortunately, as a senior executive from the Bank of England, Andrew

The current debate about the introduction of a carbon price in Australia marks the nadir of policy evaluation and political commentary in Australia. It is hard to imagine an economic issue where there could be less reliance on established facts and consistent logic. Then again, recent developments in US politics suggest that we may indeed

We’ve heard a lot recently about how the internet is changing the retail landscape. Despite the extreme lethargy with which many of Australia’s largest bricks-and-mortar retailers have embraced online opportunities, consumers are increasingly turning to the web to find more products at lower prices, and without needing to go anywhere near a Westfield. What hasn’t

THE mining boom in Queensland might be big but it certainly isn’t broad. While the mining industry tries to suggest otherwise, the simple fact is millions of Queenslanders bear the pain of the mining boom without receiving any of the gain. Yes, the mining industry employs people and yes, they spend some of their money

In 1922 Herbert Hoover, United States Secretary of Commerce, declared at the first National Radio Conference in Washington, D.C: “It is inconceivable that we should allow so great a possibility for service, for news, for entertainment, for education, and for vital commercial purposes to be drowned in advertising chatter.” By the time Hoover became President

A rather small convoy of constitutional confusion today rolled into Canberra calling for a double-dissolution election. The impending carbon price, the ban on live exports and the imminent threat of one world government were all cited by participants as motivating their demands. But no matter how sincere their confused calls for a double-dissolution election, they

For all the talk about the rising cost of living in Australia it is amazing that there isn’t more concern expressed at the high mark-ups that big Australian retailers charge. Australians pay far more for clothes, computers and most other consumer goods than customers in the rest of the world. There are two main reasons

Australian politicians have spent more than 20 years thinking up reasons not to tackle climate change, but the latest from Tony Abbott really must take the cake. According to the Opposition Leader, it now seems that until Communist China introduces a market-based mechanism to reduce their emissions, Australia shouldn’t either. That should buy us some

The most profitable retailers are the ones who can get you to pay far more than something is worth. In Australia, Tiffany jewellery, Levi’s jeans and even Coca-Cola cost far more than they do in other countries. The brands, the retailers and the shopping centres are the big winners out of this sad state of

The concepts of economic rationalism and market liberalism seem to have been abandoned by the Liberals. Whatever happened to the term economic rationalist? It wasn’t that long ago that the favourite insult hurled by the left was the badge of honour worn by the right. The arguments were hilarious. “You’re nothing but a self-serving economic

Last week Tony Abbott branded the Government’s target to reduce emissions by five per cent by 2020 as ‘crazy’, but the crazy thing is that the Coalition has the same target. Was this just Mr Abbott getting over excited in his attacks on the Government? A slip of the tongue similar to when he told

If your doctor told you that you had cancer and Lord Christopher Monckton told you to ignore their advice would you listen to him? What if he told you not to immunise your children or drink fluoridated water? It’s interesting how many people are unlikely to trust him for personal advice but who seem willing

The House of Lords says that Christopher Monckton is not entitled to claim he is a member of that House, but he disputes this. The internet is full of scientists carefully debunking the claims about climate change made by him, but he is similarly impervious to correction. Put simply, Lord Monckton is a case study

The Australia Institute’s Executive Director Dr Richard Denniss debated professional climate change sceptic Lord Christopher Monckton at the National Press Club on Tuesday 19 July. To read Richard’s take on the debate, click here To read an account of the debate Richard wrote for Crikey, click here

With the release of the Gillard Government’s plan for reducing greenhouse gas emissions we can finally compare the government’s carbon price with the Coalition’s Direct Action Plan. Two different policies with the same goal, to reduce greenhouse gas emissions by five per cent on 2000 levels by 2020. While large amounts have been written about

Economics is often called the dismal science. The accusation was justly made after Thomas Malthus predicted that “misery and vice” were the only check on world population growth. Of course these days many economists argue the exact opposite and suggest that population growth is essential for community wellbeing, but despite the U-turn the dismal tag

It can’t be only nine months since the last federal election. It feels like an eternity. That, of course, is the objective of Tony Abbott who has worked 24/7 to argue that the election result, the formation of the minority Gillard Government, and in turn, any legislation it proposes, is illegitimate and undemocratic. But this

The final version of the Carbon Pollution Reduction Scheme (CPRS) was a cobbled together compromise between Kevin Rudd and Malcolm Turnbull. The Government’s own advisor, Professor Ross Garnaut, described it as one of the worst cases of public policy development he had ever seen. So why is it the starting point for negotiations between the

Once upon a time the justification for delivering the federal budget speech at 7.30pm was so that the stock market and money market would have time to absorb the information before the next day’s trading began. But these days, with many Australian shares listed on international stock exchanges and the Australian dollar traded just as

What is the point of Canberra’s 40 per cent emission reduction target? If you thought it was to help reduce Australia’s greenhouse gas emissions then you should probably be far more concerned with the current negotiations between the Gillard Government, the Greens, Rob Oakeshott and Tony Windsor. Put simply, unless those negotiations result in a

Budget one-upmanship in Australia has moved beyond the balanced-budget obsession of the 1990s to the new aim of producing an ongoing surplus, the bigger the better, under which it is taken for granted that everyone will be better off. Despite the recent natural disasters offering good reasons for the Gillard Government to reassess its commitment

We’ve all heard that the Australian Public Service’s superannuation schemes are generous, and a look at the budget papers would seem to confirm this, revealing that the Government is spending $14.1 billion on this entitlement. Put another way, public servants’ super appears to be a staggering 73 per cent of the $19.2 billion spent on

What is the true value of the service we get when buying something at a shop? It can be quite high when the shopping experience adds to the pleasure of the purchase, such as getting you out of the house, friendly sales staff and nice food next door. The value added can be particularly high

While we might not ever be able to agree on whether advertising works or not, or why it is that companies who say it doesn’t are so determined to spend a fortune doing it, it is easy to answer a slightly different question: do politicians think advertising works? Based on the way they conduct election

There has been a lot of talk about the need to ‘reframe’ the debate about climate change among the Australian environment groups who have tasked themselves with persuading our politicians to reduce Australia’s greenhouse gas emissions. Unfortunately, their attempts to reframe the debate have been as unsuccessful as their attempts to persuade our politicians. The

The Defence establishment must find it pretty hard not to chuckle when they hear people talking about climate change policy. Climate change has been described as a fundamental challenge to democratic decision making. The problem, we are told, is that while the costs are up front the benefits are both uncertain and will arise in

The only thing that big business in Australia wants more than certainty is the certainty that they will get their own way. When they aren’t certain about that, it’s amazing how much uncertainty they are willing to tolerate. It seems it’s better to have a chance of a win than be certain of a loss.

Picking teams in Australian policy debates used to be as simple as picking sides in old movies; the good guys wore white, the bad guys wore black, and the audience knew where everybody stood. But life just isn’t that simple especially when we consider the milk price war that is raging at the moment. Am

Prime Minister Julia Gillard’s decision to give U.S. President Barack Obama an iPod of Australian music speaks volumes about the ongoing evolution of the strong relationship between Australia and the United States. While successive leaders have demonstrated their warm commitment to the international relationship, it is hard to imagine John Howard, or even Kevin Rudd,

Julia Gillard’s multi-party committee on climate change (MPCCC) has achieved what the Rudd government should have relied on its cabinet for – a good political outcome likely to deliver a good policy outcome on that wicked problem of climate change. While there is still plenty of room for negotiations to go off the rails, the