John Quiggin

A new sandpit for long side discussions, conspiracy theories, idees fixes and so on. I’ll open this by saying I agree with the view that even an optimal response to the pandemic by China would have given the world only a few days more notice, and that most Western governments would have wasted that time anyway. Like this:Like Loading...

As the author of a book on opportunity cost, I might be expected to be enthusiastic about the idea that trade-offs are always important in economic and policy choices. This idea is summed up in the acryonymic slogan TANSTAAFL (There Ain’t No Such Thing As A Free Lunch). In fact, however, a crucial section of Economics in Two Lessons is devoted to showing that There Is Such A Thing As A Free Lunch. It is only when all free lunches have been taken off the table that we reach a position...

Most of us are six weeks or so into some kind of lockdown by now, so it would be interesting to read some comments on our experiences. From the discussions I’ve had (almost entirely online rather than in person) my perception is that people with office jobs and no kids at home are finding it much easier than might have been expected, but that those with kids at home are finding it every bit as hard as you would think. So far, the impact on those who have lost jobs (or work like...

I haven’t done a fundraiser for a while, but this seems like a good time. Like everything, the Brissie to the Bay cycle fundraiser for Multiple Sclerosis isn’t going ahead as usual. It’s been replaced with a challenge where participants record their own efforts and set targets for distance and fundraising. I aim to cycle at least 400km in June (my average is around 200), and raise $1000 or more in the process. Feel free to suggest challenges of your own, with a donation to back...

Back again with another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please. If you would like to receive my (hopefully) regular email news, please sign up using the following link http://eepurl.com/dAv6sX You can also follow me on Twitter @JohnQuiggin, at my Facebook public page   and at my Economics in Two Lessons page Like this:Like Loading...

John Quiggin speaking on the COVID19 crisis - What Now, What Next and What After? John Quiggin is professor of economics at the University of Queensland, and well-known commentator and author. He blogs at johnquiggin.com where he provides, according to the header, ‘Commentary on Australian and World Events from a Socialist and Democratic Viewpoint’ His long list of academic and popular works includes Zombie Economics, a devastating critique of the persistence of disproven...

John Quiggin speaking on the COVID19 crisis - What Now, What Next and What After? John Quiggin is professor of economics at the University of Queensland, and well-known commentator and author. He blogs at johnquiggin.com where he provides, according to the header, ‘Commentary on Australian and World Events from a Socialist and Democratic Viewpoint’ His long list of academic and popular works includes Zombie Economics, a devastating critique of the persistence of disproven neoliberal ideas;...

In the last few days, there have been quite a few reports of studies suggesting that the number of people who have been exposed to Covid-19 is far larger than previously thought. These studies have been based on testing for antibodies against coronavirus (it is unclear whether they are specific to Covid-19, or might reflect exposure to other coronaviruses). I’m finding it difficult to square these estimates with inferences from direct testing, which (as I understand it) tests...

That’s the headline for my recent piece in Inside Story, responding to statements from the IMF that “the world is about to experience the worst recession since the Great Depression”. My complaint isn’t so much about the numerical estimates made by the IMF (which are actually optimistic) but about the framing in terms of the Great Depression. It’s almost certain that we will see a larger decline in global income and output in 2020 than we did in the GFC year of 2008. However, if things...

A couple of days ago, Adam Creighton had a piece in the Oz, downplaying the risks of the coronavirus pandemic, under the headline “Under 60, in good health? Crossing the road is more risky” Authors don’t choose headlines, but in this case, it’s an exact quote from the article. There was no supporting analysis, so I decided to do the numbers myself. I looked at Sweden (quoted as a success by Creighton) which seems reasonably comparable to Australia, except that they haven’t gone...