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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.


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Travel

India and Nepal

 

 

Introduction

 

In October 2012 we travelled to Nepal and South India. We had been to North India a couple of years ago and wanted to see more of this fascinating country; that will be the most populous country in the World within the next two decades. 

In many ways India is like a federation of several countries; so different is one region from another. For my commentary on our trip to Northern India in 2009 Read here...

For that matter Nepal could well be part of India as it differs less from some regions of India than do some actual regions of India. 

These regional differences range from climate and ethnicity to economic wellbeing and religious practice. Although poverty, resulting from inadequate education and over-population is commonplace throughout the sub-continent, it is much worse in some regions than in others.

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Fiction, Recollections & News

We hired a Jeep

 

In Sicily we hired a Jeep to get from Palermo around the island.

I had my doubts about this steed. Our two big bags wouldn't fit in the boot. One had to be strapped in on the back seat - a bit disappointing.

At above 130, the speed limit, there's something odd about the steering – so much so that I stopped quite soon to check the tyre pressures. I was regretting my choice.

Reassured about the tyres we set off again.

On the plus side the fuel consumption seemed OK and the zoned climate control worked well.

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Opinions and Philosophy

A Carbon Tax for Australia

 12 July 2011

 

 

It's finally announced, Australia will have a carbon tax of $23 per tonne of CO2 emitted.  This is said to be the highest such tax in the world but it will be limited to 'about 500' of the biggest emitters.  The Government says that it can't reveal which  these are to the public because commercial privacy laws prevent it from naming them. 

Some companies have already 'gone public' and it is clear that prominent among them are the major thermal power generators and perhaps airlines.  Some like BlueScope Steel (previously BHP Steel) will be granted a grace period before the tax comes into effect. In this case it is publicly announced that the company has been granted a two year grace period with possible extensions, limited to its core (iron and steelmaking) emissions.

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