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The Victorian Labor government and the Australian Grand Prix Organisation claim there are economic benefits of continuing to host the grand prix in Melbourne. We all accept the spin.
'Gone is the emphasis on an open and competitive economy where workers and bosses work out win-win solutions, it’s now open class warfare and wealth redistribution.'
It easily slots into the need for a compelling narrative of heroes (trade unions), villains (business), and victims (the rest of us)—and it's mostly wrong.
If ‘price gouging’ were driving inflation, then you would expect the increase in food and groceries to be greater than the rate of inflation - but it’s not.
Despite what Democrats would have you believe, the solution is not to raise taxes - it's not even to balance the budget, per se. The only long-term solution is to cut spending.
Although its chair, Graham Quirk, is not a Labor crony, being a former successful Liberal Brisbane City Council Lord Mayor (2015-2019), he nevertheless has been a long-term advocate of the Olympic Games.
The RBA assumed the money supply endogenous which meant bank credit determined the domestic money supply. The following equation illustrates the domestic money supply.
The developed countries have materialistic lifestyles, not available before the 1800’s, that support higher standards of living than poorer nations with all the products made from crude oil petrochemicals.
It would be fair to say that Keynes, who saw money as a means to a more fulfilling life, would find our current era disconcerting, a culture of means without ends.