Australia

3616 readers

98 users here now

A place to discuss Australia and important Australian issues.

Before you post:

If you're posting anything related to:

The Environment, post it to Aussie Environment
Politics, post it to Australian Politics
World News/Events, post it to World News
A question to Australians (from outside) post it to Ask an Australian

If you're posting Australian News (not opinion or discussion pieces) post it to Australian News

Rules

This community is run under the rules of aussie.zone. In addition to those rules:

When posting news articles use the source headline and place your commentary in a separate comment

Banner Photo

Congratulations to @Tau@aussie.zone who had the most upvoted submission to our banner photo competition

Recommended and Related Communities

Be sure to check out and subscribe to our related communities on aussie.zone:

Plus other communities for sport and major cities.

https://aussie.zone/communities

Moderation

Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.

Additionally, we have our instance admins: @lodion@aussie.zone and @Nath@aussie.zone

founded 1 year ago

MODERATORS

lodion@aussie.zone

Fluid@aussie.zone

bestusername@aussie.zone

eatham@aussie.zone

252

We won’t fix inflation while economists stay in denial about its causes (www.smh.com.au)

submitted 1 year ago by Zagorath@aussie.zone to c/australia@aussie.zone

34 comments fedilink hide all child comments

Non-paywall link.

TL;DR: economists are still stuck in the idea of the market as a perfect force for reaching optimal outcomes. They're ignoring the simple fact that businesses are putting prices up purely to increase profits. And that they can do this because the economic ideal of perfect competition (where many small firms compete with near-identical products) does not exist. We have a small number of very powerful businesses—oligopolies—in nearly every market for consumer-facing goods.

you are viewing a single comment's thread
view the rest of the comments

[–] jonne@infosec.pub -1 points 1 year ago (1 children)

Who's going to fund the new economics building at the University, the working class or some billionaire? Better make sure you don't have any Marxists on staff.

[–] keeb420@kbin.social 3 points 1 year ago (1 children)

I'd rather my taxes go to better universities instead of the war machine. But that would require the government in this country to do a 180 from where they've had their priorities for the last 70+ years.

[–] jonne@infosec.pub 1 points 1 year ago* (last edited 1 year ago)

Well yeah, universities have been starved of government funding for decades, so they raised tuitions, and have been turning to philanthropy to build new infrastructure. And you can bet that the funding for that new building came with more strings attached than just naming it after John Q Richcunt.