There are growing calls to increase taxes on the wealthy in advanced economies such as the United States and Australia. For instance, US Congresswoman Alexandria Ocasio-Cortez controversially wore a white evening dress with the words “Tax the Rich” written in red across it to the 2021 Met Gala. In Economics Explored episode 112, Australian tax expert Professor Miranda Stewart speaks with show host Gene Tunny about taxes on wealth, including inheritance taxes and the proposed billionaire tax in the United States. What is driving calls to “Tax the Rich” from politicians such as Alexandra Ocasio-Cortez and various commentators? Would it be sensible to do so?
About this episode’s guest – Professor Miranda Stewart
Miranda Stewart is Professor of Law at the University of Melbourne Law School where she is Director of the Tax Group and is a Fellow at the Tax and Transfer Policy Institute at the Crawford School of Public Policy, The Australian National University. Miranda was the inaugural Director of the Institute from 2014 to 2017. Miranda has more than 25 years research, practical and leadership experience in tax law and policy in academia, government and the private sector.
Thanks to the show’s audio engineer Josh Crotts for his assistance in producing the episode.
Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.
In Episode 111, Australian Senator Matt Canavan, Australia’s most prominent critic of the Net Zero by 2050 policy to address climate change, speaks with Economics Explored host Gene Tunny about the 2021 UN climate change summit, COP26 (i.e. the 26th Conference of the Parities) and policies to address climate change.
Matt Canavan is a Liberal National Party Senator for the state of Queensland, Australia. Matt was first elected at the 2013 Australian federal election for the term beginning 1 July 2014. He was the Minister for Resources and Northern Australia between February 2016 and February 2020. Matt holds the degrees of Bachelor of Arts and Bachelor of Economics (Hons.) from the University of Queensland. He has professional experience working as an economist in Australia’s Productivity Commission, and he has also worked as a consultant at KPMG. Matt’s main office is in Rockhampton, in Central Queensland.
Matt spoke with Gene over Zoom while located in his Parliament House office in Canberra, Australia. The conversation was recorded on Friday 22 October 2021.
Thanks to the show’s audio engineer Josh Crotts for his assistance in producing the episode. Check out his Upwork profile.
Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.
In Economics Explored Episode 110, Dr Alan Moran, prominent Australian critic of climate change and renewable energy policies, speaks with show host Gene Tunny about the 2021 UN climate change summit, COP26 (i.e. the 26th Conference of the Parities).
Dr Alan Moran is Director of Regulation Economics, a consultancy firm. He is a noted economist who, in his own words, “has analysed and written extensively from a free market perspective.” Dr Moran was the Director of the Deregulation Unit at the Australian Institute of Public Affairs from 1996 until 2014. He was previously a senior official in Australia’s Productivity Commission and Director of the Australian Government’s Office of Regulation Review. Subsequently, he played a leading role in the development of energy policy and competition policy review as the Deputy Secretary for Energy in the Victorian Government. Dr Moran was educated in the UK and has a PhD in transport economics from the University of Liverpool and degrees from the University of Salford and the London School of Economics.
Thanks to the show’s audio engineer Josh Crotts for his assistance in producing the episode. Check out his Upwork profile.
Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.
Economics Explored host Gene Tunny’s latest Friday livestream for 22 October 2021 covered:
accelerating NZ inflation and the implications for interest rates of accelerating inflation in advanced economies more broadly;
the great Australian reopening and booming job vacancies (i.e. as noted by the National Skills Commission “Nationally job advertisements are up by 36.2% (or 60,800 job advertisements) compared to levels observed prior to the pandemic”); and
the extraordinary Bitcoin narrative which is being reinforced by the introduction of Bitcoin-exposed Exchange Traded Funds.
Also, check out this great note (also quoted in the livestream and which was likely written by Pete Wargent) in the BuyersBuyers newsletter from yesterday:
Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.
In Economics Explored EP109, Dr John Atkins, philosopher and Honorary Research Fellow at the University of Queensland, provides great insights into the nature of truth, highlighting the importance of trust, probabilistic thinking (i.e. thinking not necessarily about truth but our level of certainty in a fact), and the Socratic method. Show host Gene Tunny shares his own views on the nature of truth, including his commitment to being “radically open-minded”, a stance promoted by legendary investor Ray Dalio (see Principles).
About this episode’s guest – Dr John Atkins
Dr John Atkins is an Honorary Research Fellow in the School of Historical and Philosophical Inquiry, Faculty of Humanities and Social Sciences, at the University of Queensland. His research interests include Wittgenstein, Quietism, and Institutional Integrity. He has a PhD from the University of Queensland.
Helgoland by Carlo Rovelli (book on Heisenberg Uncertainty Principle and Quantum Physics mentioned by Gene)
Thanks to the show’s audio engineer Josh Crotts for his assistance in producing the episode. You can check out his Upwork profile here.
Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.
Economics Explored Live for 15 October 2021, the first edition of what I’m planning to be a weekly livestream, covered:
the growing concern internationally about accelerating inflation, prompted by the latest US CPI figures (see chart below;
the September ABS Labour Force data revealing big drops in hours worked and workforce participation in the locked-down economies of NSW and Victoria; and
my state of Queensland’s relatively low vaccination rate (72% for 1st dose vs 84% nationally) and what it could mean for the state’s reopening and the economy – it’s pretty obvious the Queensland Premier should set a date for re-opening ASAP to encourage people to get vaccinated promptly, as suggested by the Queensland branch of the Australian Medical Association.
Here’s the video of the livestream, which was streamed to YouTube and LinkedIn Live:
Regarding inflationary pressures in advanced economies, I quoted leading market economist Stephen Roach from his recent Financial Times op-ed The sequencing trap that risks stagflation 2.0:
As brilliant and lucky as they have been, today’s generation of central bankers is afflicted with the same sense of denial that proved problematic in the 1970s. Due to a lack of experience and institutional memory of that tough period, the risk of another monetary policy blunder cannot be taken lightly.
Certainly, central banks have been running a massive monetary policy experiment with ultra-low interest rates and Quantitative Easing, which have been associated with double-digit growth rates in money stocks. I agree with Roach regarding the potential for a “monetary policy blunder”.
In Economics Explored Episode 108, energy and climate change policy expert Tony Wood from the Grattan Institute explains what COP26, the 2021 climate change conference in Glasgow, is all about and why it’s important. Tony discusses what Net Zero emissions means exactly, the prospects for nuclear energy, and implications for fossil fuel (e.g. coal) dependent economies.
Tony Wood is Program Director for Energy and Climate Change at the Grattan Institute, a leading Australian public policy think tank. Tony has been a Program Director at Grattan since 2011 after 14 years working at Origin Energy in senior executive roles.
From 2009 to 2014 he was also Program Director of Clean Energy Projects at the Clinton Foundation, advising governments in the Asia-Pacific region on effective deployment of large-scale, low-emission energy technologies. In 2008, he was seconded to provide an industry perspective to the first Garnaut climate change review.
In January 2018, Tony was awarded a Member of the Order of Australia in recognition of his significant service to conservation and the environment, particularly in the areas of energy policy, climate change and sustainability. In October 2019, Tony was elected as a Fellow to the Australian Academy of Technology and Engineering.
Thanks to the show’s audio engineer Josh Crotts for his assistance in producing the episode.
Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.
Women tend not to initiate negotiations over pay and conditions as frequently as men, and this contributes to the gender pay gap. In Economics Explored EP107, Dr Maria Recalde from University of Melbourne explains what researchers have learned about gender differences in negotiation and potential policy responses which could improve outcomes for women, such as salary history bans and increased transparency.
Dr Maria P. Recalde is a Lecturer (Assistant Professor) in the Department of Economics at the University of Melbourne, Australia. My main fields of interest are experimental and behavioral economics, public economics, and development.
Links relevant to the conversation with Dr Recalde
Thanks to the show’s audio engineer Josh Crotts for his assistance in producing the episode. Check out Josh’s Upwork profile.
Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.
A Texas physician, university lecturer in medicine, and affiliate of a free market think tank Gilbert Berdine MD explains why he thinks COVID lockdowns have been “a disaster” and why he does not support vaccine mandates.
At a time when the COVID pandemic continues, and cities such as Sydney and Melbourne remain locked down, Gilbert Berdine MD from Texas Tech University Health Sciences Center shares his views on lockdowns and vaccine mandates with show host Gene Tunny. The conversation also explores Dr Berdine’s views on regulations regarding vaping or e-cigarettes.
About this episode’s guest – Gilbert G. Berdine MD
Associate Professor of Internal Medicine, Texas Tech University Health Sciences Center, Lubbock, TX
Faculty Affiliate, Free Market Institute, Lubbock, TX
Dr. Berdine earned his B.S. degrees in chemistry and life sciences from the Massachusetts Institute of Technology in Cambridge, MA and his M.D. degree from Harvard University School of Medicine in Boston, MA. He completed residency in Internal Medicine and fellowship in Pulmonary Diseases at the Peter Bent Brigham Hospital (now called Brigham and Women’s Hospital) in Boston, MA.
Dr. Berdine was a faculty member at the University of Texas Health Sciences Center in San Antonio from 1983-1989. He was in the private practice of medicine from 1989-2009 when he returned to academia as a faculty member of TTUHSC.
Dr. Berdine’s current teaching activities include lecturer for the respiratory blocks in the 1st year Major Organ Systems course and the 2nd year Systems Disorders 1 course. His clinical duties include staff attending physician for the inpatient Pulmonary Consult Service, inpatient Internal Medicine Floor Service, and the outpatient Pulmonary Fellow Clinic. He also sees patients in the Pulmonary Clinic for Texas Tech Physicians.
Dr. Berdine’s research interests include the application of Austrian Economics to health care delivery and consumption. Dr. Berdine has published articles on these topics in peer reviewed journals and is a contributor to the Mises Daily Wire and the American Institute of Economic Research.
Correspondence from Dr Berdine on COVID mortality rates
…the mortality rate has a range of over 1000:1 depending on your age. The average mortality is heavily determined by the number of people over age 80 in the population.
Based on latest census data and current CDC figures for COVID deaths
So, for 35 and younger, the cumulative mortality including the overcounting is less than 1/10,000. If one looks at annual mortality, the figure for Under 45 including overcounting is likely less than 1/10,000. If one adjusts modestly for overcounting, the figure for Under 55 is likely less than 1/10,000.
Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.
Economics Explored EP105 considers the persistence of bad social norms such as female genital mutilation (FGM). Show host Gene Tunny speaks with University of Queensland Lecturer (i.e. Assistant Professor) Dr David Smerdon about his experimental research on social norms, including fieldwork in Africa relating to FGM.
Dr David Smerdon is a Lecturer in the University of Queensland School of Economics. He primarily works in behavioral and development economics. His research involves theory and modelling, experiments in the lab and field, and microeconometric analysis in order to investigate topics at the intersection of these fields.
David earned his PhD from the Tinbergen Institute and the University of Amsterdam (UvA) as a General Sir John Monash scholar, and afterwards worked as a PODER fellow at Bocconi University in Milan. Prior to his academic career, David spent three years working for the Australian Department of Treasury as a policy analyst. Aside from economics, David is also a chess Grandmaster and has represented Australia at seven chess Olympiads.
