The Role of Competition Policy in a Cost of Living Crisis | Professor Joseph Stiglitz Speaking Tour
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- Опубликовано: 13 сен 2024
- Nobel Prize-winning economist Professor Joseph Stiglitz discusses how effective competition policy can lower prices and combat inflation, in conversation with Ebony Bennett, Deputy Director of the Australia Institute.
Australia is experiencing a period of rising prices and sticky inflation, in part due to excessive corporate profits following the Covid lockdowns. In an economy dominated by the big banks, the big supermarkets, the big mining companies and the big consulting firms, Professor Joseph Stiglitz will discuss what role can effective competition policy can play in addressing the cost of living crisis.
Professor Joseph E. Stiglitz is a Nobel Prize-winning economist, former chief economist of the World Bank and best-selling author. Professor Stiglitz is an economist and a professor at Columbia University Business School, as well as co-chair of the High-Level Expert Group on the Measurement of Economic Performance and Social Progress at the OECD, and the Chief Economist of the Roosevelt Institute. Professor Stiglitz was awarded the Nobel Memorial Prize in Economic Sciences in 2001, the John Bates Clark Medal in 1979, and he was the recipient of the Sydney Peace Prize in 2018 - for leading a global conversation about the crisis caused by economic inequality and exposing the violence inflicted by market fundamentalism. He is a former senior vice president and chief economist of the World Bank and a former chair of the U.S. Council of Economic Advisers. He is also the author of numerous best-selling books including, most recently, The Road to Freedom: Economics and the Good Society.
Ebony Bennett is deputy director of the Australia Institute and host of its popular webinar series and Follow the Money podcast. Beginning her career as a journalist in the Canberra press gallery, Ebony has worked in federal politics in a variety of roles for two decades and has published research on climate change and energy, gender and street harassment and contributed chapters to Morrison’s Miracle: The 2019 Australian Federal Election (ANU Press 2020) and The Nordic Edge: Policy Possibilities for Australia (MUP 2021). Ebony is a regular commentator and contributor across broadcast and print media, she appears regularly as a commentator on ABC and Sky News and has a fortnightly column in The Canberra Times.
The Australia Institute: Celebrating 30 years of Big Ideas
The Australia Institute is bringing some of the world’s brightest thinkers to Australia in 2024 to celebrate our 30th anniversary as the nation’s leading independent think tank. For 30 years the Australia Institute’s independent, non-partisan research has led the national policy debate with big ideas. The Australia Institute plays a critical role in shaping the national economic debate for a fairer society and economy-from our groundbreaking 1997 paper on better measuring wellbeing in Australia, The Genuine Progress Indicator, to the influential 2005 bookAffluenza (and later Curing Affluenza), to our cutting-edge research exposing the role of corporate profits in driving Australia’s post-pandemic inflation, to our influential work that helped reshape better fairer Stage 3 tax cuts-we have a track record of delivering research that shifts policy from the politically impossible into the inevitable.
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Australia standard of living is going down because of the Ponzi economics (house and holes)
Excellent discussion. Thank you both. ⭐️⭐️⭐️⭐️⭐️ 47:45
He ignores the massive amounts of debt taken out and then redeployed into the economy. Fiscal stimulus was one thing, sure that can be saved or debt paid down. However where is the acknowledgment of access to money supply through borrowing that gets shunted round the economy? He's missed the other side of government spending as a part of AD.
Somehow you missed the part where he said rasing interest rates was a bad idea because people need to borrow money to build new solutions to the problems that last minute supply chains caused. You're (I suspect purposefully) conflating the stimulus payments to individuals with high interest rates hurting business.
🫡give some respect to this man for raising such issues
Detective of Money Politics is following this very informative content cheers VK3GFS and 73s Frank
Mate please 😑
I cannot take any man seriously who thinks Kamala is a great and honest polititian
First problem is the welcome to country.
Well now we've pushed through that trial what's the next problem?
He fails to mention the primary cause of inflation which is devaluation of currency from printing money.
Sure.
But this lecture is about negating the recent spike of price rises, not the inflationary effect of printing fiat currency over the long term.
@@attilajuhasz2526 I was referring to current inflation, which is caused by currency devaluation, and only exacerbated by supply/demand and competition issues. Government policy determines the former, and has almost no control over the latter.
@@jinnantonix4570I agree with you except for the part that the government has almost no control of the latter. Largely the supply issues were caused by goverment policies to shut off borders, trade routes, reducing 40% of the workforce as "non-essential", engaging in wars. You can agree or disagree that was the right thing to do in light of the pandemic, however, those policy responses most certainly were contributors to the current inflation.
Don't listen to all those crypto bros. Printing money in major countries is miniscule compared to the size of the economy.
@@zen1647Generally yes, in the current period no. The Reserve Bank of Australia's balance sheet expanded from 170B in January 2020 to 630B in January 2022 largely to provide stimulus to the economy due to impacts of the reasons I listed in my previous comment. This is signficant, about the same size as the entire federal budget pre pandemic.
Tax .everything as high as possible and give the money to the most unproductive people in the country
What? Why? You like what we already do but just want more of it?
@@Tasmantor no being sarcastic
propadees and bureoucrats?