photo credit: megananne Here we go again! The Reserve Bank is worried it raised interest rates too high. Is that what has caused this downturn? The real cause of this looming recession is the rampant over investment in land. This has pushed land prices to double the long term average in Australia, at 6.6 times the average wage, rather than … Read More
Australia’s Tax Carrot has advantages
Ross Gittins comments in Our Tax system should be different that the Swan Tax and Transfer review compares Australia’s tax take with OECD averages in an insecure light. Our company tax level is the eighth highest in the OECD and property taxes are 9% rather than the 6% average. Lobbying forces are lining up to pressure for lower company, property … Read More
Annual Dinner – Our 117th!
117th Henry George Annual Dinner Tues Sept 2nd Equal and Inalienable Rights to the Earth — Ground, Water and Air: when and how should one allow Enclosing the Commons? Download Flyer This year we are fortunate to have Dr Terry Dwyer deliver the Commemorative Address. As a highly respected Resource Economist, Terry has chosen this year’s topic based on the … Read More
Bailing out the Bubble’s Enablers
photo credit: laurenatclemson Michael Hudson July 14, 2008 I am writing this article about Fannie Mae and Freddie Mac while sitting in the Queens Botanical Garden. This was not my plan today. The central air conditioning in my apartment broke down six weeks ago, and still has not been fixed. (It’s a nice condominium building, but accidents happen.) It is … Read More
Overworked, Over thinking
Carol Nader reports in the Age that HUNDREDS of children are spending 60 hours or more a week in child care, a Federal Government report has revealed. The article then critiques the Federal Government’s policy of encouraging as many mothers as possible into the workforce. What are the underlying economic forces encouraging such workforce participation? We know that home owners … Read More