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EP108 – COP26 climate change summit with Tony Wood, Grattan Institute

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. 

About this episode’s guest – Tony Wood AM

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.

Links relevant to the conversation

Australia’s emissions strategy should be a countdown to zero

EP99 – Carbon border taxes

EP92 – Nuclear energy and decarbonizing economies

EP86 – Decarbonizing the Economy

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.

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Podcast episode

EP106 – COVID lockdowns, vaccine mandates, and vaping with Dr Gilbert Berdine

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.

Contact: gilbert.berdine@ttuhsc.edu

Links relevant to the conversation

COVID-19 Vaccines and the Delta Variant – AIER article by Gilbert Berdine MD

Lockdowns of Young People Lead to More Deaths from Covid-19 – AIER article by Gilbert Berdine MD

Covid Misclassification: What Do the Data Suggest? – AIER article by Gilbert Berdine MD

Sometimes hesitancy is justified by Gilbert Berdine MD

Vaping Laws and the Treachery of Good Intentions by Gilbert Berdine MD

EP100 – Incentivizing Vaccinations or Cash for Jabs

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

https://www.census.gov/data/tables/2019/demo/age-and-sex/2019-age-sex-composition.html

https://data.cdc.gov/NCHS/Provisional-COVID-19-Deaths-by-Sex-and-Age/9bhg-hcku

Mortality expressed as 1/mortality : 

Age: Mortality

Under 5: 124,126

5 to 14: 283,027

15 to 24: 32,461

25 to 34: 7,850

35 to 44: 2,845

45 to 54: 1,087

55 to 64: 475

65 to 74: 213

75 to 84: 87

85 +: 31

Cumulative Age

Under 5: 124,126

Under 15: 199,917

Under 25: 64,258

Under 35: 20,120

Under 45: 8,681

Under 55: 3,880

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.

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Podcast episode

EP99 – Carbon border taxes

The European Union intends to impose a carbon border tax and the US is also considering one. What’s the justification for a carbon border tax and what could it mean for international trade? Episode 99 of Economics Explored features a conversation regarding the European Union’s proposed Carbon Border Adjustment Mechanism (CBAM), i.e. a carbon border tax, between show host Gene Tunny and his colleague Ben Scott, Research Officer at Adept Economics.

Links relevant to the conversation:

https://adepteconomics.com.au/what-does-the-eus-carbon-border-tax-mean-for-australia/

https://www.diw.de/documents/publikationen/73/diw_01.c.812870.de/dp1935.pdf

https://www.environment.gov.au/system/files/resources/f52d7587-8103-49a3-aeb6-651885fa6095/files/summary-australias-2030-emissions-reduction-target.pdf

Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com. Economics Explored is available via Apple PodcastsGoogle Podcast, and other podcasting platforms.

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Podcast episode

EP98 – Political legitimacy with Prof. Phillip LeBel

In Risk and the State, Professor Phillip LeBel argues the political legitimacy of governments worldwide is “under trial from questions of borders and national identity, from rising economic inequality, from the way in which information is gathered, managed, and disseminated, and from varying perceptions of risk.”

In EP98 on political legitimacy, host Gene Tunny interviews  Prof. Phillip LeBel about his new book published earlier this year by Brown Walker Press: Risk and the State: How Economics and Neuroscience Shape Political Legitimacy to Address Geopolitical, Environmental, and Health Risks for Sustainable Governance.  

Phillip LeBel is Emeritus Professor of Economics at Montclair State University, NJ. With a career combining academic research and teaching with professional consulting, Professor LeBel has accumulated a record of economic expertise in a variety of domestic and international fields. Over the years, he has lived in and/or worked in 30 countries, including Africa, East Asia, Central America, and Latin America.

Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com. Economics Explored is available via Apple PodcastsGoogle Podcast, and other podcasting platforms.

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Podcast episode

EP96 – Managing Government Budgets

Rachel Nolan, a former Queensland Government finance minister, speaks with Economics Explored host Gene Tunny about how government budgets are developed and just how much flexibility governments actually have.

Rachel Nolan is Executive Director of the McKell Institute and is an honorary Senior Lecturer in Philosophy at the University of Queensland. Rachel was a member of the Queensland Parliament for eleven years from 2001, when she was elected as the youngest woman ever. She is a former Minister for Finance, Transport, and Natural Resources and the Arts. Rachel was a member of the Queensland Government’s central budgetary decision making body, the Cabinet Budget Review Committee.

Links relevant to this episode include:

Budget of the U.S. Government

The Federal Budget in Fiscal Year 2020: An Infographic

Economics Explored EP31 Paying for the Coronavirus rescue measures with Joe Branigan (Note we’ve changed the name of the show since we recorded this episode so it doesn’t clash with a popular YouTube channel)

Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com. Economics Explored is available via Apple PodcastsGoogle Podcast, and other podcasting platforms.

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Podcast episode

EP90 – Lockdown Cost-benefit Analysis with Professor Douglas Allen

Episode 90 of Economics Explored features a discussion regarding COVID lockdown costs versus benefits with Professor Douglas Allen from Simon Fraser University, Canada. Professor Allen has concluded COVID lockdowns have been the greatest peacetime policy failure in Canada’s history. Please check out our conversation for Professor Allen’s justification for this claim.

Links relevant to the conversation include:

Professor Allen’s Lockdown CBA for Canada

Economist: Lockdowns ‘Greatest Peacetime Policy Failure’ in Canada’s History – Foundation for Economic Education

Our World in Data – Coronavirus

Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com.

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Podcast episode

EP68 – COVID and Wartime: Comparison of economic impacts

Economics Explored episode 68 COVID and Wartime features a conversation on whether COVID can be compared to wartime, which considers the different scales and scopes of the shocks, and what it all means for prospects for economic recovery. Economics Explored host Gene Tunny, an Australian professional economist and former Treasury official, speaks with businessman Tim Hughes, also based in Brisbane, Australia.

Gene and Tim conclude that a comparison of COVID to wartime isn’t valid. One reason is that World War II required a complete reorganisation of the economy to maximise production for the war effort, while COVID has involved restrictions that have reduced economic activity. 

Links relevant to the conversation include:

Comparing COVID-19 to past world war efforts is premature — and presumptuous

US Council on Foreign Relations Backgrounder on The National Debt Dilemma

Brookings on What’s the Fed doing in response to the COVID-19 crisis? What more could it do?

Australia’s Boldest Experiment (excellent book on Australia’s wartime economy)

Robert Gordon’s The Rise and Fall of American Growth (outstanding book by a leading US economist containing a great discussion of America’s wartime economy)

Aussies over-confident after being over-compensated by Gov’t for COVID-recession

Mint security lapse amazes judge (story about theft from the Australian Mint in early-to-mid 2000s)

Finally, the word Gene got stuck on at 6:55, irredentist, means, “a person advocating the restoration to their country of any territory formerly belonging to it”, according to Oxford Languages.

If you’d like to ask a question for Gene to answer in a future episode or if you’d like to make a comment or suggestion, please get in touch via the website. Thanks for listening.

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Podcast episode

EP67 – Regulating Big Tech

It’s been a challenging year 2020, but one positive development is that regulators in the US and Australia have started challenging the Big Tech companies Google and Facebook over alleged misuses of market power. The US Department of Justice is taking on Google over its search dominance and the Federal Trade Commission is taking on Facebook over allegedly restricting competition by buying up potential competitors such as Instagram and WhatsApp. In Australia, the Media Bargaining Code designed to assist traditional media companies negotiate for a share of ad revenue with Big Tech is currently being considered by a Senate committee. In my latest Economics Explored podcast episode Regulating Big Tech, I provide an update on moves by governments and regulators, and I discuss the relevant economic concepts and policy issues.

Links relevant to the conversation include:

Joseph Stiglitz on Regulating Big Tech

Don’t Be Evil: The case against big tech by Rana Foroohar

Australian Treasury Laws Amendment (News Media and Digital Platforms Mandatory Bargaining Code) Bill 2020

Economics Explored EP58: Tech Giants challenged by the Media and Governments

Economics Explored EP22: Antitrust with Danielle Wood from the Grattan Institute

Economics Explored EP21: Surveillance Capitalism with Darren Brady Nelson

Economics Explored EP16: Big Economic issues for the 2020s