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Markets

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Parent Category: Economy
Category: Markets
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Thomas Carlyle coined this epithet in 1839 while criticising  Malthus, who warned of what subsequently happened, exploding population.

According to Carlyle his economic theories: "are indeed sufficiently mournful. Dreary, stolid, dismal, without hope for this world or the next" and in 1894 he described economics as: 'quite abject and distressing... dismal science... led by the sacred cause of Black Emancipation.'  The label has stuck ever since.

This 'dismal' reputation has not been helped by repeated economic recessions and a Great Depression, together with continuously erroneous forecasts and contradictory solutions fuelled by opposing theories.  

This article reviews some of those competing paradigms and their effect on the economic progress of Australia.

Read more: A Dismal Science

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Travel

Laos

 

 

The Lao People's Democratic Republic is a communist country, like China to the North and Vietnam with which it shares its Eastern border. 

And like the bordering communist countries, the government has embraced limited private ownership and free market capitalism, in theory.  But there remain powerful vested interests, and residual pockets of political power, particularly in the agricultural sector, and corruption is a significant issue. 

During the past decade tourism has become an important source of income and is now generating around a third of the Nation's domestic product.  Tourism is centred on Luang Prabang and to a lesser extent the Plane of Jars and the capital, Vientiane.

Read more: Laos

Fiction, Recollections & News

To Catch a Thief

(or the case of the missing bra)

 

 

 

It's the summer of 2010; the warm nights are heavy with the scent of star jasmine; sleeping bodies glisten with perspiration; draped, as modestly requires, under a thin white sheet.  A light breeze provides intermittent comfort as it wafts fitfully through the open front door. 

Yet we lie unperturbed.   To enter the premises a nocturnal visitor bent on larceny, or perhaps an opportunistic dalliance, must wend their way past our parked cars and evade a motion detecting flood-light on the veranda before confronting locked, barred doors securing the front and rear entrances to the house.

Yet things are going missing. Not watches or wallets; laptops or phones; but clothes:  "Did you put both my socks in the wash?"  "Where's my black and white striped shirt?" "I seem to be missing several pairs of underpants!"

Read more: To Catch a Thief

Opinions and Philosophy

Issues Arising from the Greenhouse Hypothesis

This paper was first written in 1990 - nearly 30 years ago - yet little has changed.

Except of course, that a lot of politicians and bureaucrats have put in a lot of air miles and stayed in some excellent hotels in interesting places around the world like Kyoto, Amsterdam and Cancun. 

In the interim technology has come to our aid.  Wind turbines, dismissed here, have become larger and much more economic as have PV solar panels.  Renewable energy options are discussed in more detail elsewhere on this website.

 

 

Climate Change

Issues Arising from the Greenhouse Hypothesis

 

Climate change has wide ranging implications for the World, ranging from its impacts on agriculture (through drought, floods, water availability, land degradation and carbon credits) mining (by limiting markets for coal and minerals processing) manufacturing and transport (through energy costs) to property damage resulting from storms.  The issues are complex, ranging from disputes about the impact of human activities on global warming, to arguments about what should be done and the consequences of the various actions proposed.  The following paper explores some of the issues and their potential impact.

 

Read more: Issues Arising from the Greenhouse Hypothesis

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