The Policy Post

   One damn theory after another (1) Those big economic theories all seemed like good ideas at the time. Only later did we realise the economists had wrecked the joint.

  One damn theory after another (2) After the shocks of the seventies, Milton Friedman thought he had the answers. He didn’t.

One damn theory after another (3) How banks stopped being banks and took over the world.

  Prosperity versus the planet: can we have both? Humanity needs economic growth – but we also need a habitable planet. We can have both, but not if we go on doing the same things.

  The retreat from globalism. After three crippling shocks – the GFC, the pandemic and Trump’s war – globalisation has gone into reverse.

  Democracy in trouble? Blame the economy. Democracy and prosperity go together. When economies go backwards, authoritarians flourish.

For China, is this as good as it gets? The ‘middle-income trap’ that ended the rise of so many former tiger economies now ensnares China. The prognosis isn’t good.

  The over-hyped world of AI. Artificial intelligence won’t change as much as the promoters claim. But, for some, its impacts will be disruptive – and sometimes disastrous.

  Shocks and aftershocks 1: Five tipping points that made the modern world. Global change happens slowly, then all at once. And it’s driven by ordinary people shouting: “What about me?”

  Shocks and aftershocks 2: The undeliverable promise of liberalism. The difficulties besetting the world today can be traced back to their origins in the speculations of the 18 th century Enlightenment.

  Shocks and aftershocks 3: Freedom for the wolves. Between 1789 and 1860, Europe was transformed. Industrialisation and liberal economics fused into a kind of new feudalism.

  Shocks and aftershocks 4: And then the world ended. As the 19 th century progressed, reforms were minor and grudging, doing little for the great mass of the people. Finally, in 1914, the edifice collapsed.

  Shocks and aftershocks 7: The post-liberal malaise. Liberalism has run its course. The US is no longer the ‘indispensable nation’. Other countries must find their own new way.

  Shocks and aftershocks 5: After Armageddon, rebirth. Socialism turned out to be much worse than liberalism. Then a new way appeared … for a while.

  Shocks and aftershocks 6: Peace, love and company profits The upheavals of 1968 presaged the ultimate triumph of liberalism. Personal freedoms were finally realised – but neoliberal economics failed just as badly as ever.

  Does Albanese lead a reformist government? Or not? He can leave taxes alone, or he can change Australia. Not both.

  Stop worrying about productivity. We’re doing okay. Australia’s productivity ‘crisis’ is not what it seems. We’re just not measuring it properly.

  Quietly, Albanese springs a $20 billion budget cut on the states. The federal government is slashing its funding for national roads and railways – and shifting the cost to the cash-strapped states.

  Can liberal democracy survive? Yes, actually. The fear and angst in western democracies is palpable. The threat from populists of the right is serious. But the reasons driving all this aren’t the ones you’ve been told.

  Australia as an industrial superpower? Well, yes … The Albanese government’s Future Made in Australia project is one of the most misunderstood and misrepresented policies of recent times. It may also be the most important.