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Black Wednesday: How one man broke the Bank of England

April 18, 2022March 22, 2022 by Domenic Filippone

The British government devalued the pound sterling in 1991. As a result, one man made a profit of over $1 billion. Join Domenic as he discusses how George Soros became known as “the man who broke the Bank of England.”

Bali nine executions: What now for Australia and Indonesia?

February 20, 2016May 9, 2015 by Alex Setiawan

The fallout between the two countries has started. Following the executions of Andrew Chan and Myuran Sukumaran, Indonesia has come under attack from the UN, and especially Australia. Australia has retaliated by recalling their ambassador Paul Grigson, and it seems certain that foreign aid to Indonesia will be slashed considerably. On the internet, thousands of Australian social justice advocates have sworn to never visit Indonesia again, culminating in the boycott Indonesia campaign.

Homelessness, housing affordability and unsound public policy – Part 2

February 29, 2016December 31, 2013 by Yannis Goutzamanis

In my previous article I wrote about housing affordability and the first homebuyer’s scheme as an example of unsound public policy that exacerbates the housing affordability problem. In this article, I shall turn my attention towards tax concessions and consider their impact on housing affordability.

A brief history of the Nobel Memorial Prize in Economic Sciences

February 16, 2016October 23, 2013 by Laura Mulligan

The 2013 Nobel Memorial Prize in Economic Sciences was announced on October 15 and won by a trio of financial economists: Eugene Fama, Robert Shiller and Lars Peter Hansen. Fama is the mastermind behind the ‘efficient-market hypothesis’, which will be familiar to all who have taken at least a first-year finance subject, whilst Shiller is a primary critic of the hypothesis and instead espouses the idea of ‘irrational exuberance’ in markets (read: stock markets are generally overvalued as investors underestimate the risk of incurring a loss).

Editors’ Picks — August 11, 2013

February 29, 2016August 11, 2013 by ESSA Publications

Each week the ESSA Editors pick out the best articles from the latest in the world of economics, politics, and everything in between.

Editors’ Picks — August 4, 2013

February 29, 2016August 4, 2013 by ESSA Publications

Each week the ESSA Editors pick out the cream of the crop from the latest in the world of economics, politics, and everything in between.

The ReTurnbull Movement – the future of the Liberal Party?

February 16, 2016July 24, 2013 by ESSA Writers

Now that Kevin Rudd has regained his position at the helm of the Australian Labor Party, the soap opera that is Australian politics has almost immediately turned itself to the future of the relatively stable Liberal Party. Specifically, rumours are now flying about the unsung ambitions of shadow communications spokesman Malcolm Turnbull to topple Tony Abbott before the election, and ride on a wave of popular admiration to the Prime Ministership. At least, that’s what the media seems to think.

Questions now arise however – who is this man, and what does he want? And, possibly more importantly, what impact would his return to the leadership of the Liberal Party (if it ever occurred) have on its policies, prospects and the public?

Corporate Raiders or Job Creators?

February 16, 2016July 3, 2013 by Yannis Goutzamanis

Yannis Goutzamanis discusses the effects that private equity has on the wider economy.

Exec pay in Australia – do the rich get richer?

February 16, 2016July 1, 2013 by ESSA Writers

When the Productivity Commission reported in 2009 that average chief executive pay tripled from 1993 to 2009, you could have been forgiven for shrugging your shoulders and moving on. What else is new? The rich get richer and the poor get poorer, right? Well, no. At least, not all the time.

Are We Pure or Impure Altruists?

February 16, 2016June 7, 2013 by Christine Li

In economics, altruism is traditionally taught as an exception to the rational traits of the Economic Man, homo economicus. And while altruism rarely receives a tribute in the textbooks because of its apparent non-belonging in classic economics, it has strikingly important implications for public economic policy.

I have previously discussed the topic of nonprofits and the effects of changes in fundraising on charitable individuals. This week, I want to delve into a discussion of the phenomenon of ‘crowding-out’, community diversity, and touch on the differentiation of altruism between ‘pure’ and ‘impure’.

Planning for a Soft Landing

February 16, 2016June 3, 2013 by Joey Moloney

Like most debates that enter the political sphere, the discussion around the demise of the Australian car manufacturing industry is plagued by emotionally charged falsehoods, meaningless rhetoric and ideological blinkers. A more impartial analysis suggests that while there is a case to be made for the free market to take its course, the human cost of the broader structural shift demands attention.

Has inflation targeting become a sporting event?

February 16, 2016May 5, 2013 by Lachlan Walden

At the time of writing, available odds for this Tuesday’s RBA meeting are $1.40 for rates to remain unchanged, $2.20 for a decrease of up to 25 basis points and then a respectable $19 for a cut between 25 and 50 basis points. Any increase in the cash rate pays $34 but putting money on that would surely be the equivalent of backing a horse with a broken leg – unless it is called Black Caviar perhaps.