Dig­ging another hole in our future

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There are wide­spread reports that the polit­i­cal fetish with return­ing the Fed­eral gov­ern­ment to a sur­plus will result in cuts to Australia’s research fund­ing bud­get of close to half a bil­lion dol­lars:

Research cuts put lives at risk, say med­ical insti­tutes

Research cuts will cre­ate ‘brain drain’

These cuts are dri­ven by an obses­sion with run­ning a per­ma­nent bud­get sur­plus that is good pol­i­tics but bad eco­nom­ics. For Aus­tralia to con­sider achiev­ing this point­less goal by fur­ther under­min­ing its already pathetic level of research fund­ing is even more insane.

Nor­mally polit­i­cally inac­tive researchers have finally had enough and are fight­ing back. The Wal­ter and Eliza Hall Insti­tute of Med­ical Research has estab­lished a protest move­ment “Dis­cov­er­ies Need Dol­lars”, and they are hold­ing a Rally for Research in Mel­bourne next week:


State Library of Victoria (Swanston St) — Tuesday 12 April @ 12:45-2PM

Mooted poli­cies like this show the wis­dom in Don­ald Horne’s often mis-quoted descrip­tion of Aus­tralia as “the lucky coun­try”:

Aus­tralia is a lucky coun­try, run by sec­ond-rate peo­ple who share its luck

Aus­tralia showed less enter­prise than almost any other pros­per­ous indus­trial soci­ety. (Don­ald Horne)

It’s time to tell the sec­ond-rate peo­ple think­ing of mak­ing insane deci­sions like this to back off. If you are in Mel­bourne, please attend the rally, and sup­port the cam­paign.

About Steve Keen

I am Professor of Economics and Head of Economics, History and Politics at Kingston University London, and a long time critic of conventional economic thought. As well as attacking mainstream thought in Debunking Economics, I am also developing an alternative dynamic approach to economic modelling. The key issue I am tackling here is the prospect for a debt-deflation on the back of the enormous private debts accumulated globally, and our very low rate of inflation.
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