Warwick Smith @RecoEco
Neo-Robinsonian economist. Castlemaine Institute & @UniMelb SSPS. #WellbeingEconomy, climate, social justice, environment, employment. @warwicksmith.bsky.social castlemaineinstitute.org.au Djaara country Joined March 2009-
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If the media covered climate change the way it covers Trump, and Trump the way it covers climate change, we'd have neither.
Shocked, shocked by 🇪🇺 study that privatisation bad for your health (sarcasm font). Political Determinants of Health: Healthcare Privatization and Population Health in Europe read.dukeupress.edu/jhppl/article/…
Do you think the principal role of the economics profession is to mask power dynamics? Not that many economists would realise this of course and are certainly not doing it intentionally- it’s just baked into the theory.
#BREAKING United States vetoes Security Council resolution recommending observer State of Palestine be granted full United Nations membership Result of the vote: IN FAVOR: 12 AGAINST: 1 ABSTAIN: 2
Hey @DrCameronMurray, WTF? You created a new speculative asset. I hope you've got a few suitcases full of these and are making a fortune. I recommended to somebody that they read it and they showed me this. #GameOfMates
Dutton on French "bollard man" being offered a permanent visa: "I support the PM's generous offer... he embodies the Anzac spirit." Dutton on the injured Pakistani security guard being offered the same: "That's obviously an issue for the PM..." Can't make this shit up 🙃
There are no "laws of economics". The economy is a social construct that we can choose to reconstruct. The current "laws of economics", left intact long enough, will slowly reduce home ownership rates until 1% of people own all of the houses. Is that what we want? #housingforall
There are no "laws of economics". The economy is a social construct that we can choose to reconstruct. The current "laws of economics", left intact long enough, will slowly reduce home ownership rates until 1% of people own all of the houses. Is that what we want? #housingforall
Perfect illustration of the @AlboMP govt's climate & environment priorities @Bowenchris @tanya_plibersek (as the #GreatBarrierReef experiences the worst mass bleaching on record. & on a day where we had a full day of Senate hearings on Australia's extinction crisis)
Perfect illustration of the @AlboMP govt's climate & environment priorities @Bowenchris @tanya_plibersek (as the #GreatBarrierReef experiences the worst mass bleaching on record. & on a day where we had a full day of Senate hearings on Australia's extinction crisis)
Gunditjmara Elder Aunty Sandra Onus explains how she took on Alcoa with Aunty Christina Frankland to prevent damaging cultural sites located on the proposed site of a smelter in Portland. Watch here: youtu.be/fNa1c1hdS_8 #selfdetermination #FirstPeople #IndigenousAustralia
Housing is one reason not all countries feel the same pinch of higher interest rates, in part because monetary policy has more impact on economies with a low share of fixed-rate mortgages. imf.org/en/Blogs/Artic…
Come and work with me at the ANU (and collaborating with @BenPhillips_ANU and @Bruce_Bradbury) on "Inequality, Prosperity and the Australian Welfare State" jobs.anu.edu.au/jobs/research-…
Wondering what a #WellbeingEconomy is? In The Wellbeing Economy in Brief series, @KTrebeck and @RecoEco outline the core elements of a wellbeing economy and how we can work towards one. 📖Read more ➡️ cpd.org.au/work/wellbeing… @CentrePolicyDev @WEAll_Alliance
Biodiversity loss and climate change are not information deficit problems, and will not be solved by ever more precise data about where and how fast they are happening
"We need rules and policies that prevent the distress in the first place, all of which takes economists into uncomfortable territory: promoting unions, placed-based policies, immigration control, job preservation, industrial policy..." Angus Deaton abc.net.au/news/2024-03-1…
Been hugely fun working with @RecoEco on a little series of explainers about the what, why, and a wee bit of how of the #wellbeingeconomy agenda. V excited to see it see the light of day!! cpd.org.au/work/wellbeing… @WEAll_Alliance @weallscotland @WEAll_Aotearoa @CentrePolicyDev
Our real estate #cooperative must be legit now - we have t-shirts. Castlemaine.coop
Lmao I hope more Australians wake up to this reality and we start going “hang on a minute…”
This is one of the best graphs from CBA's investor presentation. Australia's biggest home lender reveals who's buying property, and which income group is really getting the biggest benefit from negative gearing tax breaks. abc.net.au/news/2024-02-1… #ausecon #ausbiz #auspol
And for those keeping track, global sea surface temperatures hit a new all-time modern record high yesterday, at 21.15°C. Yep. It's all going swimmingly, as they say.
Our local community investment #cooperative is now a legal entity and taking memberships. We're also having a proper launch on March 6 in the Castlemaine Town Hall. Locals can join now at castlemaine.coop/join Below article from the @CastlemaineMail
Greg Jericho @GrogsGamut
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Shocked, shocked by 🇪🇺 study that privatisation bad for your health (sarcasm font). Political Determinants of Health: Healthcare Privatization and Population Health in Europe read.dukeupress.edu/jhppl/article/…
@RecoEco ‘Single representative agent’ is a device used to avoid discussing everything important
@RecoEco Yes — important because a failure to understand the role of power leads to misconceptions in relation to wages, employment, distributional issues and many more matters. Economic analysis can be very useful but, absent a role for power, can lead to wrong conclusions.
@RecoEco It's the critical role of *neoclassical* economics.
Elegant Black Heron.
BREAKING: Unconditional basic income doubled employment rates and helped people secure new housing in Seattle. We've seen similar results again and again in Canada. During the Ontario basic income pilot, 1/3 of those working found HIGHER paying work.
@simonecasey @RecoEco Economics undergraduates at my Uni were too scared to enrol in a 3rd yr unit, Marxian Economics, for fear it would blemish their academic transcript for economics, accounting & finance entry level job applications.
@RecoEco The irony is: Sydney Uni's degree in Political Economy where economics is studied as a social construction with a critical theory lens, had a graduate named Anthony Albanese.
@RecoEco Yes the basic assumptions they've been working on for 100yrs are wrong now. They support the status quo. So yea you're correct
@RecoEco No, but I do think they oversimplify the nature of the economy and social systems, in order to make their models and theory more compelling than they are. Basically, there's a bias towards apparent rigor and more advanced mathematical techniques, because it's more impressive.
There will always be apologists for rich, successful, and powerful people, but for even the worst offenders, this isn't a significant problem. The biggest problem is scientific and mathematical ambition, to the point of exaggeration. The issue w/ accounting is integrity.
Do you think the principal role of the economics profession is to mask power dynamics? Not that many economists would realise this of course and are certainly not doing it intentionally- it’s just baked into the theory.
@RecoEco At some point you have to ask, if they’re so smart, why aren’t *we* rich?
Damn straight
Do you think the principal role of the economics profession is to mask power dynamics? Not that many economists would realise this of course and are certainly not doing it intentionally- it’s just baked into the theory.
Almost certainly, as so few economic models consider distribution
Do you think the principal role of the economics profession is to mask power dynamics? Not that many economists would realise this of course and are certainly not doing it intentionally- it’s just baked into the theory.
@RecoEco That's why I dropped economics at Uni! What I was learning had nothing to do with how power structures are maintained and reproduced.
@RecoEco Economists mostly promote conservatism, big money, and capitalist money and power. Richard Holden very recently editorialised in AFR of the need for tax cuts