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The death of Keynesian economics: How government stimulus could hurt Australia

In this week's interview, RMIT economist Steve Kates talks about the death of Keynesian economics. He shares the growing view that stimulus packages around the world have increased debt, have not reduced unemployment and have made the crisis worse. He warns that Australia will feel the impact over the next year when China starts unwinding its stimulus package.

Treasury chief Ken Henry should be replaced, while Gillard seeks new economic advisers

In this week's overview of the economy, RMIT economist Sinclair Davidson voices the belief that Treasury chief Ken Henry is likely to be replaced, while Julia Gillard seeks new economic advisers. He says the Gillard Government will need to slash spending to bring about the budget surplus she says the government is committed to achieving.

Navigating the dark waters of interest rates — what does it all really mean?

Be it in good economic times or bad, interest rates dictate how we spend our lives. Or more importantly, how we spend. Period. For many of us, how they are determined and interpreted seems to be the work of economics wizards and the faceless gods at the top of banking towers.

Iceland: From boom to bust to haven to where-the-bloody-hell-are-you?

Being a single industry economy is notoriously dangerous. And few countries understand this better than Iceland. Not wanting to remain in the doldrums, Iceland is trying to re-brand itself as a journalistic haven, centre of creativity and popular tourist destination. Cue cart-wheeling citizens.

Australian wages are expected to grow, yet more Australians are filing for bankruptcy [PODCAST]

Frank Lowy is now the richest man in Australia according to the BRW rich list. The property and mining sectors are the country's most profitable sectors. Meanwhile, more Australians are filing for bankruptcy because of unsustainable home loans. Garry Barker and Leon Gettler talk about 'The Week in Review'.

It's all Greek to me: How world events affect Australian small business budgets

With recent focus on world events, many small- and medium-sized businesses in Australia are left wondering what these distant, foreign events mean to their business operations at home.

It’s all Greek to me: How world events affect Australian small business budgets

With recent focus on world events, many small- and medium-sized businesses in Australia are left wondering what these distant, foreign events mean to their business operations at home.

The budget, the mining tax, falling shares… why is the government "all over the...

RMIT economist Sinclair Davidson talks about the latest employment figures, which look positive. He criticises the mining super tax, saying the government is all over the place on the issue and questions assertions in the Federal Budget that we are headed back for a surplus.

The budget, the mining tax, falling shares… why is the government “all over the...

RMIT economist Sinclair Davidson talks about the latest employment figures, which look positive. He criticises the mining super tax, saying the government is all over the place on the issue and questions assertions in the Federal Budget that we are headed back for a surplus.

What I learned about creativity from two weeks in Thailand (amid the chaos)

As a 'business' commentator, I won't pretend to know the ins-and-outs of the 'political' history or reasons for the conflict (that's background you can find elsewhere). But I would like to make some observations about business in Thailand and what we, as Australians, can learn from our neighbours in this Kingdom to our not-so-distant North.

From Rio to Freo: are we going nuts for Brazil?

From soccer to samba and Carnival to Copacabana, Brazil is seen as an exotic country of liberal excess and partying. However, beyond the beaches and the tourist hedonism, Brazil’s most promising leader to date, President Lula da Silva, has been powering on with economic reform and international strategic alliances that have seen the country emerge relatively unscathed from the GFC. Tim Harcourt reports what this means for the future and where trade with Australia may fit into Brazil’s promising economic outlook.

Why You've Never Heard of the Great Depression of 1920

If you have 49 minutes to spare and would like to brush up on your economic theory, this presentation by Thomas E. Woods, Jr., hosted by the Ludwig von Mises Institute, not only summarises the events leading up the the Great Depression of the 1920s but offers salient points that are equally applicable to our current economic climes.

Why You’ve Never Heard of the Great Depression of 1920

If you have 49 minutes to spare and would like to brush up on your economic theory, this presentation by Thomas E. Woods, Jr., hosted by the Ludwig von Mises Institute, not only summarises the events leading up the the Great Depression of the 1920s but offers salient points that are equally applicable to our current economic climes.

Macquarie’s shadow: International investment is Australia’s Achilles Heel

Foreign investment and domestic jobs have been inextricably linked since Australia’s convict days. Austrade’s Chief Economist Tim Harcourt explains.

Hacks and geeks ponder media’s ‘Humpty Dumpty’ moment at Media 2010

How is the media handling the digital ecosphere? Matthew da Silva discussed the view from the wall with key players in attendance at last month’s Media 2010 conference, a Sydney ideas forum sponsored by Fairfax Digital.

A rap for the economist in us all… fo shizzle?

In this 'rap off' between two of the history's most influential economic minds, you'll find John Meynard Keynes throwing back Cosmopolitans in an effort to explain the value of stimulus spending. If only K Rudd had tried to articulate this important economic theory from the VIP section of a Manhattan 'gentlemen's club', he wouldn't have encountered nearly so much opposition.

Are your customers taking over 50 days to pay you? According to D&B, that's...

According to Dun & Bradstreet's (D&B) latest trade payments analysis, the payment terms of Australian firms have declined for the second consecutive quarter. A fall of three days since the previous quarter and 5.6 days in the past six months has reduced terms to 51.8 days – just above pre-crisis levels.

Are your customers taking over 50 days to pay you? According to D&B, that’s...

According to Dun & Bradstreet's (D&B) latest trade payments analysis, the payment terms of Australian firms have declined for the second consecutive quarter. A fall of three days since the previous quarter and 5.6 days in the past six months has reduced terms to 51.8 days – just above pre-crisis levels.

350 years of economic theory in 50 minutes

Economics is one of the more complex academic subjects. So imagine trying to summarise the past 350 years of it into one 50 minute lecture.

Are these the first signs of The Great Recovery?

So how did 'The Great Recession' on Monday become "The Great Recovery' by Friday? Well it didn't, but in between the beginning and end of the week, we did have a remarkable run of good data to boost our spirits (such evidence is now better known as 'green shoots' after US Federal Reserve Chairman Ben Bernanke used the term to describe a positive run of data showing signs of a possible recovery).

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