- 07 Mar
Is the Boom already becoming a Bust and are we Prepared?
- Mar 07, 2016
- Business Cycles, Commodities, Economics, GDP, Iron Ore, Marginal Costs, Prisoner's Dilemma, Producer's Dilemma, Supply
This paper is a shortened form of a public lecture in May-2012 by Ian Runge at the invitation of the University of Queensland School of Economics. The objective was to examine the state of the (then) current resources boom, and […]Read more
- 22 Feb
GDP (Gross Domestic Product) – Don’t Believe it!
GDP is gross domestic product, not net domestic product. It measures production, not destruction. In 1958, Mao Zedong launched China’s “Great Leap Forward” and amongst other initiatives, provided lots of incentives to increase steel production. Steel output rose dramatically. BUT […]Read more