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Category Archives: Current Events
“We glorified finance, we privileged finance, we even subsidised finance”
ABC radio’s PM programme has a good little interview with Jim Standford regarding how people incorrectly think of economics as part of the finance industry rather than the finance industry being just a part of the economy: JIM STANFORD: … I … Continue reading
Posted in Accounting Failures, Australia, Current Events
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Des Moore on Central Banks
Interesting: First, contrary to popular interpretations, the blame for the panic cannot primarily be placed on irresponsible bankers: they responded rationally to the subsidy for credit created by central bankers. But what’s this in the very next paragraph?!?!: Second, Prime … Continue reading
Posted in Australia, Austrian Economics, Current Events
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Thought of the day
Mainstream economics is not the cause of the current financial crisis – rather, the cause of the current financial crisis and the cause of mainstream economics being mainstream are the same. (article to follow)
Again, what is MWT?
I’ve written a few short descriptions of the MWT Model over the years. I just submitted the following to ValueBasedManagement.net: ManageWithoutThem is firstly a theory of how organisations actually behave, rather than how managers should behave. Secondly, it’s a redefinition … Continue reading
Posted in Current Events, General MWT
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Not what, how
I’m reminded time and time again that the problem is not what you are managing it is how you are managing. It doesn’t matter if you add projects, communications, services, risks, etc, etc, etc to the list of things you are managing. … Continue reading
Posted in Current Events, General MWT
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Comical Economics
If you want to understand economics, the current state of the finance industry, and some of the corruption caused by bizarre inflationary money systems, it’s worth reading How an Economy Grows and Why It Doesn’t. It’s a comic – which … Continue reading
Posted in Austrian Economics, Current Events, Personal
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What would a healthy banker say about the the economic crisis?
After my last few vague ramblings on the economy I wanted to hear what somebody who actually knew what they were talking about thought. I found the ideal candidate: John Allison, former CEO of BT&T Bank (which hasn’t gone broke), speaking for … Continue reading
Posted in Austrian Economics, Current Events, Personal
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The financial system vs. financial institutions
Exactly: … what struck me most was Geithner’s repeated conflation of our “financial system” and our “institutions”. Mr. Geither’s unspoken assumption is the fixing our financial system implies ensuring that incumbent troubled financial institutions are “strong”. But that’s not right. … Continue reading
Posted in Austrian Economics, Current Events, Personal
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Economics still isn’t a formula
Everybody is citing the article in Wired on the Gaussian copula function. Apparently, everybody had been applying some clever maths to finance decisions so they thought they had a mathematically valid way of making accurate predictions while eliminating most variables. … Continue reading
Posted in Austrian Economics, Current Events, General MWT, Personal
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Getting closer to Michael Costa
Some time ago I was trying to form my view on Michael Costa. I never quite finished that train of thought – but I was definitely leaning towards liking him a lot. With that in mind I’m attend the following … Continue reading
Posted in Austrian Economics, Current Events, Personal
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