© 2019 by Henry Thornton. 

  • Grey Twitter Icon

To view older Economic related articles from Henry, and other correspondents of Henry, visit the archive of the original Henry Thornton site here:

http://pandora.nla.gov.au/pan/33415/20160803-0036/www.henrythornton.com/category9738.html?category_id=4

March 28, 2020

USA-China relationship far more hostile.

USA allies (including Australia) less trusted by China, less trade.

Vast government spending everywhere.  Unless Jonson plan (See last week's blog) is adopted, counties will have massive, unmanageable debt burdens.

USA will adopt a national health system with national coverage, funded by richest Americans.

Send comments to: Henry.Thornton@HenryThornton.com

Trade will be less free - most, pos...

March 21, 2020

The Morrison government is rightly concerned about the cost of saving the Australian economy.  When asked if he would be going to save companies that were in trouble, the Prime minister seemed not especially interested.  He is no doubt totting up the cost of the many promises he has, rightly in my view, already made to Australian citizens.  I also applaud his bold measures to 'flatten the curve of infection', closing our borde...

March 17, 2020

Infection, recession, remission

It has already been a bugger of a year, and we are still in the early autumn season. The VIRUS is decimating Italy and spreading quickly.  President Trump looked rattled on TV this morning, while his Veep, Mr Pence, stood behind him and tried to scare him with very angry eyes.  The Veep was put in charge by the Pres, who now he knows it is serious has apparently put himself in charge again.

B...

March 14, 2020

It has already been a bugger of a year, and we are still in the early autumn season. The VIRUS is decimating Italy and spreading quickly.  President Trump looked rattled on TV this morning, while his Veep, Mr Pence, stood behind him and tried to scare him with very angry eyes.  The Veep was put in charge by the Pres, who now he knows it is serious has apparently put himself in charge again.

But who knows just how bad the w...

March 10, 2020

The world is waking up that recession is on the way.  Ever since the Global crisis economists have been baffled by low inflation and slow GDP growth.  To my mind, this combination is due to the big scare of the global crisis, fears of workers worried about losing their jobs and the inability of leaders to convince people that recovery is on the way.' Low Animal spirits for workers' is a relevant phrase.

Major countries are...

January 8, 2020

This chapter addresses one of the most difficult issues in Macroeconomics, how to increase useful economic growth. While fiscal and monetary policies can derail growth if handled badly, new ideas applied by real businesses are the main source of increased economic growth.  Different writers adopt different approaches, and in this chapter we feature three such approaches as well as a hymn of praise to a government agency.

*...

January 8, 2020

This is a revised version of a paper published initially in an article in a German journal called Kredit und Kapital, 1976 following the 1975 Konstanz Conference. In 1999 it was republished in Laidler, David (Ed), The Foundations of Monetary Economics, Volume II, An Elgar Reference Collection, 1999.  Footnotes and diagrams have been omitted and minor changes made solely to improve the flow.

--------------------------------...

January 8, 2020

The highly professional and detailed monthly central bank reports are designed to demonstrate that no stone has been left unturned. However, there is at least one apparently small stone that demonstrates that there is a large rock left unturned. The apparent small stone is this: ‘Members noted that the ongoing subdued growth in wages implied that there continued to be spare capacity in the labour market.’ 

*********************...

January 8, 2020

After leaving the Reserve Bank I had some time to reflect the best way of conducting monetary policy. Treasury had tried ‘monetary projections’ that failed after money growth blew out with financial reform. The Reserve tried ‘the check list’, to general lack of acclaim. Finally I decided in 1990 the rate of inflation (eg the consumer price measure) was an appropriate operational target, as did Sir William Cole. It took six yea...

January 8, 2020

Well after my departure from the monastery, I was still interested in economics and economic policy. My main outlet was Henrythornton.com, with six blogs a week, and a monthly column under the nom de plume of Henry Thornton.  Even the Queen of England was surprised by the global crisis, which changed macroeconomics in ways not yet clear.

************************************************

Just about everyone was surprised by the Gl...

Please reload

Recent Posts

March 22, 2020

March 15, 2020

March 10, 2020

March 8, 2020

Please reload