Articles & Blogs, Category = Opinion & Ideas

Category: Opinion & Ideas

The Right-Wing Case for Basic Income.

“In our current welfare system, there are a myriad of programs that each deal with a different aspect of life for the poor. One program provides food aid, another deals with housing (…). A large number of regulations, such as minimum wage laws, exist to help hold wages high enough to keep other working people off the welfare rolls. Friedman viewed this multitude of agencies as wasteful and suggested that a single program would do the same job with a smaller government by just giving cash to people who needed it. As a libertarian who placed a high value on the freedom of choice, he also suggested it was a much more dignified way of helping the poor than telling them what they could and could not do with the money we give them (…).”

Dentists Need a Licence to Practice. Why not Economists?

“It’s easier to become an economist than a dentist, or a doctor or a lawyer. For those and other professions you need to be accredited – you need a licence to practice. The economics profession requires nothing other than a university degree, and this month in its regular poll of 54 leading economists, the Economic Society of Australia asked whether it should set the bar higher.”

Too Big to Ignore

“Monopolies and oligopolies have come to dominate Western economies, and the case for breaking them up is strong”, so John Quiggin (Senior Fellow in Economics at the University of Queensland, Australia) argues.

To Save Capitalism, Save Communities

As the powers of the state and the market have expanded, we’ve neglected the damage being done to the third pillar of society, so Raghuram Rajan (professor of finance at the University of Chicago Booth School of Business) argues.

Economics Needs to Get Real If We Want More Young Australians to Study It

“We both studied economics for many years, we love our profession, and we fervently hope more critical-thinking, passionate young people will take up this discipline – mostly to help us save the economy (and the planet) from conventional economics. But for economics to play a more helpful, critical role, it must thoroughly reinvent itself – and fast. It must abandon its ideological and self-serving faith in the efficacy of private markets. It must embrace the social, historical, and environmental context of work, production, and distribution. And it must commit to truly building a better world, rather than justifying the status quo.”

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