Short term lecturer position at Kingston University

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Please cir­cu­late widely – the dead­line for appli­ca­tions is 22 Sep­tem­ber! A short term lec­tur­ing posi­tion has just been adver­tised at Kingston Uni­ver­sity, where I am now Head of Eco­nom­ics, Pol­i­tics and His­tory. This is a fixed-term post to 30 June 2015. Though the period is brief, it is an oppor­tu­nity to work in our very heterodox-friendly department.

Time for a Copernican revolution in economics

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The global finan­cial cri­sis took the vast major­ity of the eco­nom­ics pro­fes­sion by sur­prise. Though there were indi­vid­ual main­stream econ­o­mists — such as Robert Shiller and Joseph Stiglitz — who claim to have warned of the cri­sis, no main­stream eco­nomic model fore­saw any­thing like what even­tu­ated in 2007. In fact, main­stream model pre­dic­tions led to politi­cians being advised to expect tran­quil eco­nomic con­di­tions ahead. The OECD’s advice in its June 2007 Eco­nomic Out­look was typical:

Help create a graphic novel version of Debunking Economics

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Genevieve Tran, who blogs at Money Big and Small, is team­ing up with graphic artist Miguel Guerra and Suzy Dias, who do the car­toons on IDEAe­co­nom­ics and pro­duce the indi-comic Super Cor­po­rate Heroes, are team­ing up to pro­duce a graphic novel ver­sion of Debunk­ing Eco­nom­ics.

Genevieve is putting together a video and has sent out the fol­low­ing call:

The revolt of (part of) the top 1% of the top 1%

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What are your pre­con­cep­tions about the author of a book with the title The Next Eco­nomic Dis­as­ter: Why It’s Com­ing and How to Avoid It? Aca­d­e­mic? Left­ist? Anti-capitalist? Anti-banker certainly?

Pre­pare to drop them all, because the author is none of the above. Tak­ing the last first, the major­ity of his career has been in bank­ing — and as a founder and CEO.

Are the students revolting, or is it economics?

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Main­stream econ­o­mists have long ignored the dynam­ics of pri­vate debt, money and banks to their detri­ment. Now more than ever, a real­is­tic and non-orthodox approach to eco­nom­ics is needed.

Last week I made my first over­seas trip on which I ticked the box ‘Aus­tralian res­i­dent depart­ing per­ma­nently’. It’s given me cause to reflect on my career as an aca­d­e­mic econ­o­mist (and part-time jour­nal­ist) in Australia.

The good, the bad and the ugly of the Murray inquiry

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The Murray inquiry's observations on financial advice, household debt and super are commendable, but its boneheaded proposal for the government to underwrite RMBS is a concern.

A gov­ern­ment report is always a Parson’s Egg, and I’ll start with the parts of this one that were excel­lent. These were its wari­ness about and obser­va­tions on super­an­nu­a­tion, finan­cial advice and house­hold debt.

A Royal Commission into the Commonwealth Bank

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The Com­mon­wealth Bank’s response to the Sen­ate inves­ti­ga­tion of ASIC blames incom­pe­tence and indi­vid­u­als for the scan­dals at Com­mon­wealth Finan­cial Plan­ning Lim­ited. Chief exec­u­tive Ian Narev: “Poor advice pro­vided by some of our advis­ers between 2003 to 2012 caused finan­cial loss and dis­tress and I am truly sorry for that.”

Abbott shoots his own supporters in the foot

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The Abbott gov­ern­ment has reacted with pre­dictable dis­dain to attacks over its poli­cies on refugees, home­less, uni­ver­sity stu­dents, unem­ployed, and wel­fare recip­i­ents. And why shouldn’t it? These are com­plaints from peo­ple who nor­mally wouldn’t vote for them any­way, while the poli­cies them­selves appeal not only to “bolted on” Lib­eral vot­ers, but also to dis­af­fected Labor vot­ers. It’s good pol­i­tics, even if the bad press means a tem­po­rary hit in the opin­ion polls.