Rally for Research

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The Dis­cov­er­ies Need Dol­lars cam­paign to stop the rumoured cuts to research fund­ing will now have ral­lies in Syd­ney and Ade­laide as well as in Mel­bourne:

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

RSVP via Rally for Research Face­book page (you need to be logged into Face­book to view this page).
Down­load the Mel­bourne rally flyer

SYDNEY — Belmore Park (Near Central Railway station) — Tuesday 12 April @ 12:45-2PM

RSVP via Rally against NHMRC Bud­get cuts Face­book page (you need to be logged into Face­book to view this page).
Down­load the Syd­ney rally flyer

ADELAIDE — Steps of Parliament house, North Terrace — Tuesday 12 April @ 12:30PM (Adelaide time)

What to wear and bring

I’ll be attend­ing the Syd­ney Rally–though with­out a lab coat! Please attend one of the ral­lies, if you are able.

There is also now a Getup cam­paign sug­ges­tion, and fit­tingly it’s joined the First Home Buy­ers Strike and Abol­ish Neg­a­tive Gear­ing cam­paigns at the head of the sug­ges­tion list.

It’s a trav­esty that the gov­ern­ment or its advis­ers can con­sid­er­ing reduc­ing fund­ing for worth­while activ­i­ties like research, with­out even con­tem­plat­ing end­ing harm­ful sacred cows like those two schemes to keep house prices ris­ing.

This is all being done in the name of return­ing the bud­get to surplus–an obses­sion that is being jus­ti­fied in the name of Keynes (see ” Swan’s back-to-black defence”) when this is a trav­esty of Keynes’s views.

The rumoured cut of $400 over 3 years pales beside how much could be “saved” by lim­it­ing the First Home Buy­ers Grant to new hous­ing only. On a back of the enve­lope cal­cu­la­tion, this would save five times as much as the planned cuts to research would save.

There are roughly 110,000 recip­i­ents of this grant every year, less than ten per­cent of whom buy a new house. Lim­it­ing the grant to them alone would save $700 mil­lion per year, ver­sus the $133 mil­lion “sav­ing” from cut­ting research fund­ing.

This would also be a socially ben­e­fi­cial bud­get cut. Giv­ing the grant to buy exist­ing homes sim­ply adds more lev­ered money to the com­pe­ti­tion for exist­ing houses, dri­ving up their prices. Restrict­ing the grant to new houses only would help make hous­ing less unaf­ford­able, and boost demand for the ail­ing con­struc­tion sec­tor.

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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  • Geoff Davies

    Vastly greater sav­ings could be made by abol­ish­ing direct and indi­rect sub­si­dies on fos­sil fuels — through which we pay extra to pol­lute the planet. Recent esti­mate from ACF: $12 bil­lion annu­ally in Aus­tralia http://www.acfonline.org.au/articles/news.asp?news_id=3308

  • ak

    Geoff Davies,

    You and Steve have raised a very valid point. If the gov­ern­ment is to cut spend­ing and/or raise taxes (per­son­ally I am not con­vinced whether this should hap­pen in 2011/2012 but I under­stand that a lot of peo­ple think that the bud­get deficit should be reduced and we live in a demo­c­ra­tic soci­ety) then we should pro­pose some­thing else instead of cut­ting spend­ing on research pro­grams.

    Neg­a­tive gear­ing, first home owner grants and fringe tax ben­e­fits are very high on my list to go. If the so-called Key­ne­sians are blamed for stim­u­lat­ing econ­omy by throw­ing money into waste­ful pro­grams — these ele­ments of the mid­dle-class wel­fare (tax loop­holes and var­i­ous sub­si­dies) are the best exam­ples of waste which should be elim­i­nated ASAP.

  • For those who fol­low the US polit­i­cal prac­tise please note that almost dou­ble the pop­u­la­tion of Aus­tralia, in the US is beg­ging for food: Is that really any dif­fer­ent from the Oz? Social­ism, Marx­ism, and zion­ism are dis­eases.


    We in Oz would do to well to urgently turn either abruptly right or left from the direc­tion that our “lead­er­ship” is tak­ing us… Marx­ism, fas­cism, and total sub­servience to the USA / Israeli rep­tiles aka “neo­cons” cum zion­ists.

    We would also do well abol­ish­ing the sub­si­dized sex allowance, etc., etc., and other elec­toral assis­tance pack­ages offered by the polit­i­cal incum­bents and their oppo­si­tional cousins in arms. Drop the excise tax on fuel and cut the OZ bureau­cracy by at least 75%.

    Invest in the future and not the com­forts of the pres­ence and stop incar­cer­at­ing the unborn in taxes that only ben­e­fit the cur­rent polit­i­cally inclined and priv­i­leged.

    Nobody should have the right to impose their will of a minor­ity onto the major­ity as it is being played out in Aus­tralia today and no gov­ern­ment should have the right to dic­tate alliances of mil­i­tary occu­pa­tion by a for­eign power onto those that have the impres­sion that they elected their lead­ers to pro­tect and serve.

    Be warned, the next decade is cru­cial to the future of Aus­tralia and Aus­tralians.

    Ho hum

  • Robert K

    I think you meant to say, There are roughly 110,000.….…. less than 10% of whom buy a NEW house. The prior para­graph has it cor­rect, in lim­it­ing FHG to
    new hous­ing.

  • A coura­geous peo­ple under threat of black­mail by politi­cians and bankers who reject cor­rupt and favoured state bank­ing prac­tises and remind the World that com­mer­cial Bank­ing is not a risk free busi­ness — just like every­thing else.

    Ice­landers have the right atti­tude.


    Aus­tralia needs peo­ple in gov­ern­ment posi­tions that can pre­pare the Aus­tralian peo­ple and Nation for the future where “change” is the key­word. It is time to develop a new sys­tem of gov­er­nance at all lev­els and find new peo­ple to gov­ern Aus­tralia as an inde­pen­dent Nation and not a vas­sal state to the UK and the USA.

    It is time for Aus­tralia to grow up and to act as adults in rea­son and courage and stop the cap-in-hand grov­el­ling before inter­na­tional pres­sures as prac­tised by our “lead­er­ship” today.

  • Whoops. Will fix now. Thanks for the proof­ing. I wrote that rather too quickly when still feel­ing bug­gered with this (almost over) cold.