John Quiggin

That’s the headline from my latest piece in Inside Story, in Libra, Facebook’s newly announced cryptocurrency. Opening and closing paras below Facebook’s announcement that it is launching a #cryptocurrency called Libra raises two questions. Will Libra compete with the most famous cryptocurrency, #Bitcoin ? And what is a cryptocurrency anyway? …Ultimately, the crucial part of the name is “crypto.” What Bitcoin and Libra have in common is a desire to avoid the constraints of...

I’m doing a run of radio interviews this week, including A discussion of Economics In Two Lessons with Nick Rheinburger, morning presenter for ABC IllawarraA talk about the history of Australian farming, with Annabelle Quince of Rear Vision, the history program on ABC RNA discussion of the resurgence of socialism with Tom Switzer on ABC RN Between The LinesThe first interview should go to air on Thursday morning. I’m not sure about the other two Share this:Like this:Like Loading......

Two big book events for Economics in Two Lessons coming up this week. On Tuesday, I’ll be at Avid Reader in Brisbane, talking to Paul Barclay. On Thursday, it’s Gleebooks in Sydney, talking to Peter Martin. Share this:Like this:Like Loading...

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...

The AFL has handed a lengthy suspension to Collingwood player Jaidyn Stephenson, who was found to have bet a total of $36 on exotic bets, including one that he himself would kick a goal. Stephenson was silly to make the bets, but clearly there was nothing sinister here. This article points out the hypocrisy of the AFLs high-minded stance in combination with their eagerness to take money from the betting companies. On the other hand, the availability of bets seems to me to make...

Adani is getting on with the job of building its Carmichael coal mine as opponents prepare for a renewed campaign of protests. That’s the lead in this SMH story about the Carmichael mine. But the picture released is the same yellow grader that’s been there for months. This is a puzzle. On the one hand, Adani’s pronouncements exude confidence that the mine will be shipping coal within a couple of years. That was reinforced in a recent interview with Gautam Adani himself. On the...

In pointing out that Adani’s Carmichael mine wasn’t viable without government help, I focused on the possibility of a concessional loan from Australia’s Export Finance Insurance Corporation. As commenters have pointed out, Adani (a prominent crony of Indian PM Modi) looks like being able to charge above-market prices for electricity in India. I’m not clear whether this helps much to make the Carmichael project viable. Over the fold, an exchange I had with Charles Worringham. In...

The term “globalization” came into widespread use in the 1990s, about the same time as Fukuyama’s End of History. As that timing suggests, globalization was presented as an unstoppable force, which would break down borders of all kinds allowing goods, ideas, people and especially capital to move freely around the world. The main focus was on financial markets, and the assumption was that only market liberal institutions would survive. The first explicit reaction against...

The 100th anniversary of the Treaty of Versailles is coming back. I have a piece in The National Interest which ran under the headline (selected by the subeditor, as is usual), America Needs to Reexamine Its Wartime Relationships. Keynes first came to public attention with his critique of the Versailles Settlement, The Economic Consequences of the Peace, whith foreshadowed, in important respects, The General Theory of Employment, Interest and Money. I argue that the rise, fall...

That’s the title of my latest piece in The Conversation, republished on the ABC website. Possible answers So what could be going on? Perhaps Gautam Adani is willing to lose a large share of his wealth simply to show he can’t be pushed around. Alternatively, as on numerous previous occasions, his promises of an imminent start to work may prove to be baseless.The third, and most worrying, possibility is that the political pressure to deliver the promised Adani jobs will lead to...