Talking of reforms, how much is left of the micro reform era.
Having privatised telecomms and (most electricity), government is now building/commissioning broadband network and electricity generation and storage.
Competition and choice in human services comprehensively disastrous with for-profit providers (aged care, VET)
PPP model broken ever since GFC (based on UK PFI, which Conservative government tweaked, then dumped altogether)
Outsourcing has been disastrous in many cases, most recently quarantine and contract tracing (again, UK further down this road, moving to insourcing). Outsourcing policy advice a particular problem
Financial deregulation produced GFC, hugely costly financial sector, promised benefits never delivered
Labour market reform has made workers worse off (OK, this probably counts as a success for those who introduced it).
Successes: airlines (at least until pandemic), deregulated shopping hours, ending arbitrary differences between states, HECS (at least when combined with demand-driven expansion of places).
Probably irrelevant by now: tariff reform. Decline of large scale manufacturing inevitable, even with tariffs.

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More from @JohnQuiggin

25 Sep
Looking at private investments, all the top tech firms are essentially mature monopolies
Microsoft's last big innovation was buying 86-DOS in 1980, and renaming it MS-DOS. Everything since has been me-too, though very successful
Growth rate of Google searches now in single digits AFAICT. Android installed base pretty much static, smartphones a mature technology
Read 6 tweets
20 Sep
Supposing the Dems win Presidency and both Houses, and override the filibuster, can they legislate the equivalent of Roe and Casey, for example in an expanded civil rights act?
Those decisions found an implied right in the constitution, but it's hard (for a non-US, non-lawyer) to see how SC can find an implied prohibition to replace it. Can they rule it out on states' rights grounds?
If not, issue of expanding SC might not arise unless there is another trigger. 2nd amendment?
Read 4 tweets
7 Sep
Crikey author Adam Schwab claims the data indicates lockdowns don't really work "The data" turns out to mean "a bunch of rightwing hacks with no relevant expertise". @BernardKeane
TJ Rodgers: semiconductor entrepreneur "Rodgers is known for his public relations acumen, brash personality, and strong advocacy of laissez-faire capitalism. "
Donald Luskin: far right finance guy, National Review Online etc
Lyman Stone, adjunct fellow at the American Enterprise Institute. At least this affiliation is acknowledged whereas the first two righties are presented as independent experts.
Read 5 tweets
3 Sep
Clean-energy technologies now together account for 2.5TW of installed capacity globally, more than coal or gas, says new report…
Also, now more solar than wind, and more new renewables (solar+wind) than hydro
Lower capacity factors, but factor rising for renewables (esp with storage) and falling for coal (bottom of merit order)
Read 4 tweets
3 Sep
Facts don't care about your ideology, OR, rightwing cancel culture. Rereading @jerry_jtaylor on ideology as motivated cognition…
This problem extended beyond the realm of climate change ... libertarian friends and colleagues were engaged in fierce, uncompromising debate about empirical matters that had nothing to do with libertarian principles or commitments. Is the Keynesian multiplier consequential?
Is Thomas Piketty correct that r>g? Do tax cuts pay for themselves? A libertarian could take either side of those disputes without having to recant any of their principles . But to cross the party line on these or an ocean of similar empirical matters was to risk unemployment.
Read 4 tweets
15 Aug
A few thoughts on the fact that r < 0, where r is the real rate of interest on long-term (< 30 years) debt for developed country governments
Situation predates pandemic and has happened despite central bank attempts to resist it, such as abandoned attempt by Fed to raise funds rate in 2019.
Extends to corporate bonds as well. Lowest investment grade BBB currently offering 2.38 which implies expected real return (net of inflation and expected loss from default) also below zero. Was 5-6 per cent before GFC…
Read 7 tweets

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