Economics Explored

In this episode of the Economics Explored podcast, host Gene Tunny chats with John August, Treasurer of the Pirate Party of Australia and host of the Roving Spotlight show on Radio Skid Row in Sydney. Together, they discuss previous episodes on topics such as the invisible hand, Goldbacks, and cryptocurrencies. Listeners are encouraged to share their thoughts on these topics.Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice message via https://www.speakpipe.com/economicsexplored. What’s covered in EP194[00:02:44] The invisible hand. [00:04:27] Hidden assumptions in economics. [00:08:15] Problem with gambling addiction. [00:14:39] Soviet Union. [00:26:03] Military expenditure and Soviet collapse. [00:30:16] Social media and liberty. [00:33:37] Censorship in social media. [00:39:01] History of currency. [00:40:47] [00:44:25] Central Bank Digital Currency. [00:50:34] Crypto as a solution. [00:55:46] CBDC concerns and conspiracy theories.Links relevant to the conversationJohn’s website where you can find his writings and a link to his radio show:https://johnaugust.com.au/Gene’s previous conversations with John:https://www.mixcloud.com/Johnorg/roving-spotlight-24-may-22-post-election-all-over-gene-tunny-economics-internet-purchases/https://economicsexplored.com/2022/06/21/advertising-surveillance-capitalism-w-john-august-ep144/https://economicsexplored.com/2022/05/11/the-pirate-partys-economic-policy-platform-w-john-august-ep138-transcript/Recent episodes mentioned in the conversation:https://economicsexplored.com/2023/05/12/govt-wellbeing-budgets-frameworks-useful-or-useless-w-nicholas-gruen-ep187/https://economicsexplored.com/2023/04/29/the-invisible-hand-economic-religious-or-mystical-concept-w-dan-sanchez-fee-ep185/https://economicsexplored.com/2023/04/12/what-are-goldbacks-and-whos-buying-them-e-g-preppers-libertarians-collectors-w-goldback-founder-jeremy-cordon-ep183/https://economicsexplored.com/2023/03/31/odd-way-to-fix-housing-crisis-proposed-by-aus-govt-invest-in-stocks-first-w-dr-cameron-murray-sydney-uni/https://economicsexplored.com/2022/09/18/bitcoin-books-w-author-ex-fighter-pilot-lars-emmerich-ep157/https://economicsexplored.com/2023/03/08/crypto-arbitrage-searcher-dave-belvedere-on-crypto-and-dapps-such-as-wizards-dragons-ep178/https://economicsexplored.com/2022/12/19/aussie-energy-crisis-net-zero-transition-w-josh-stabler-energy-edge-ep170/Thanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.

Andrew May, a leading Australian performance coach and host of the Performance Intelligence podcast, discusses the relationship between physical & mental fitness and CEO & business performance with show host Gene Tunny and his colleague Tim Hughes. Andrew shares insights into the areas he focuses on when coaching top performers, including CEOs and elite athletes. Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice message via https://www.speakpipe.com/economicsexplored. About Andrew MayAndrew May is CEO and founder of StriveStronger, a digital consultancy that partners with organisations to create cultures of wellbeing. He presents inspiring presentations and is recognised as one of the world’s leading performance strategists. Andrew works with a number of elite athletes and is the Mental Skills Coach for the Parramatta Eels National Rugby League Club. Andrew is a former middle-distance runner who was an assistant coach at the Australian Institute of Sport in Tasmania. He has worked with multiple Olympic/international athletes in track and field, tennis, swimming, hockey, netball, basketball and AFL; culminating in working as the Physical Performance Manager for both the NSW and Australian Cricket teams. Andrew has dual degrees in the body and brain – completing a Bachelor of Applied Science in Exercise Physiology (body) and a Masters in Coaching Psychology (brain). For further information about Andrew, check out his full bio:https://www.andrewmay.com/about-andrew/What’s covered in EP193[00:01:10] Physical and mental fitness in performance. [00:04:24] Well-being and Performance. [00:08:21] CEOs and high performance sport. [00:10:57] Male vulnerability and authenticity. [00:13:14] Life's purpose and meaning. [00:16:49] Building sustainable operating rhythms. [00:19:59] Slow brainwave patterns.[00:23:00] More on building sustainable operating rhythms. [00:26:24] Sleep and recovery for CEOs. [00:30:16] Wearable device metrics. [00:32:57] Cycling culture and health. [00:38:29] Longevity through lean muscle. [00:39:40] Biological age and VO2 max. [00:43:24] Performance Intelligence Mastermind. [00:47:26] Work-life balance. [00:49:46] Managing stress for executives. [00:53:12] Wearable tech and data analysis. [00:56:32] ROI. [01:01:00] CEO Health Coaching Benefits. [01:04:02] CEOs and Health Performance.Links relevant to the conversationAndrew’s podcast:https://www.andrewmay.com/performance-intelligence-with-andrew-may/Andrew’s book Match Fit and related online course:https://www.amazon.com.au/MatchFit-Andrew-May-ebook/dp/B07ND3CNB6https://www.andrewmay.com/mf8/Regarding DEXA (dual x-ray absorptiometry) scans:https://www.cdc.gov/nceh/radiation/dexa-scan.htmlStudies mentioned by Gene in his debrief with Tim at the end of the episode include the following.Study published in Leadership Quarterly in June 2023 “CEO health”:https://doi.org/10.1016/j.leaqua.2022.101672Here’s the abstract:“Using comprehensive data on 28 cohorts in Sweden, we analyze CEO health and its determinants and outcomes. We find CEOs are in much better health than the population and on par with other high-skill professionals. These results apply in particular to mental health and to CEOs of larger companies. We explore three mechanisms that can account for CEOs’ robust health. First, we find health predicts appointment to a CEO position. Second, the CEO position has no discernible impact on the health of its holder. Third, poor health is associated with greater CEO turnover. Here, both contemporaneous health and health at the time of appointment matter. Poor CEO health also predicts poor firm outcomes. We find a statistically significant association between mental health and corporate performance for smaller-firm CEOs, for whom a one standard deviation deterioration in mental health translates into a performance reduction of 6% relative to the mean.”Leibniz Information Centre for Economics & Centre for Financial Research (CFR), University of Cologne working paper titled “Does CEO fitness matter?”https://www.econstor.eu/bitstream/10419/123715/1/841379122.pdfHere’s an excerpt from the abstract:This study provides evidence suggesting that CEOs’ physical fitness has a positive impact on firm value, consistent with the beneficial effects of fitness on, e.g., cognitive functions, stress coping and job performance. For each of the years 2001 to 2011, we define S&P 1500 CEOs as fit if they finish a marathon. CEO fitness is also associated with higher firm profitability and higher M&A announcement returns.Thanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.

Economics Explored host Gene Tunny interviews Addison Wiggin, a New York Times bestselling author and market economist, about the US banking crisis. Addison shares insights into the origins and impacts of the crisis, and discusses the future of the US economy and financial markets. Listeners can download Addison's recent report "Anatomy of a Bust: Winners and Losers in the Banking Crisis of 2023" for free via a link in the show notes. Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice message via https://www.speakpipe.com/economicsexplored. About Addison WigginThree-time New York Times best-selling author, Addison Wiggin, is a 30-year market economist with a passion for the real-world impact of financial markets on our lives.Addison is the author and host of The Wiggin Sessions, a podcast that connects key thinkers and industry experts for a deep dive into history, politics, and economics. Some of his most accomplished works as a writer, publisher, and filmmaker include the New York Times Best Seller The Demise Of The Dollar and the documentary I.O.U.S.A, an exposé on the national debt crisis in America.What’s covered in EP192Addison’s background and how he came to the conclusion that the US financial system is in danger of collapse. (1:53)Will the Reserve Bank of Australia increase rates again? (10:46)The uncertain lender of last resort: The Federal Reserve. (17:11)The Fed’s job is to make sure fewer people have jobs. (21:52)Banking crisis and the failure of regulation. (26:21)FDIC and confidence. (32:00)Why it’s important to understand how booms and busts even take place. (37:07)Cryptocurrency as part of the story. (41:47)What has happened to the dollar since 1913, when the US Federal Reserve was established. (46:41)Links relevant to the conversationSpecial download link to Anatomy of a Bust for Economics Explored listeners:https://jointhesessions.com/ee/Presentation by Addison that Gene mentions early in the episode:Anatomy of A Bust: Banks Go First | Special Presentation by Addison WigginThanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.

This episode delves into the pressing issues of housing and immigration in Australia, featuring a conversation with renowned financial journalist, Alan Kohler. The discussion revolves around the impact of high immigration rates on housing demand and affordability, emphasizing the need for coordination between immigration and housing policies. The episode also highlights the supply-side factors contributing to the housing crisis, such as restrictions on housing development and protections for character housing and heritage. The host Gene Tunny suggests the need for a national debate and parliamentary inquiry into Australia's immigration rate and population growth to weigh the benefits of immigration against the challenges of housing and infrastructure. Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice message via https://www.speakpipe.com/economicsexplored. What’s covered in EP191[00:01:58] Australia’s housing crisis. [00:06:47] The need to coordinate immigration and housing. [00:08:00] Short-term vs long-term rental - the impact of AirBnB, etc. [00:13:05] Local governments and the housing shortage. [00:18:30] Drop in average housing size. [00:22:32] Increasing housing supply as a solution. [00:24:17] Immigration and housing affordability. [00:28:07] The pandemic response and the housing crisis.Links relevant to the conversationAlan Kohler’s articles:Labor immigration and housing policies are an explosive mixAlan Kohler: Population growth equals economic growth, but for whom?RBA research on average household size:A New Measure of Average Household Size | Bulletin – March 2023 | RBAPrevious Economics Explored episodes on housing:Odd way to fix housing crisis proposed by Aus. Gov’t: invest in stocks first w/ Dr Cameron Murray, Sydney Uni. – Economics ExploredThe high cost of housing and what to do about it w/ Peter Tulip, CIS – EP134 – Economics ExploredMissing Middle Housing podcast chat with Natalie Rayment of Wolter Consulting | Queensland Economy Watch    Australian Financial Review articles on housing:Housing supply crisis: How Auckland took on the NIMBYs and won1.3 million missing homes blamed on councils and NIMBYsThanks to Darren Brady Nelson for connecting Gene with Alan Kohler, to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.

Host Gene Tunny discusses the US debt ceiling and the emerging economies debt crisis with his Adept Economics colleague Arturo Espinoza. Gene shares a memory of his own experience with the debt ceiling the Australian Government had at the time of the 2008 global financial crisis (GFC). Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice message via https://www.speakpipe.com/economicsexplored. What’s covered in EP190[04:35] US debt ceiling negotiations. [09:18] US hitting its debt ceiling.[14:51] The trillion-dollar coin as a possible workaround. [16:14] Spending and revenue challenges. [26:05] Australian debt ceiling legislation in 2008-09. [29:05] US debt limit and consequences. [33:25] Argentina's economic struggles. [40:02] IMF's Nightmarish Identity Crisis & emerging economies debt crisis. [42:27] China's role in emerging markets debt. [45:13] PNG and China. Links relevant to the conversationNoah Smith’s Subtack post:https://open.substack.com/pub/noahpinion/p/the-debt-ceiling-deal-what-was-the?r=2hwg1&utm_campaign=post&utm_medium=email   Treasury to take ‘extraordinary measures’ as US hits debt ceiling | Financial TimesMichael Knox’s note on the debt ceiling:AUS_ESQ_230523_US government shutdowns and why US treasuries never default.pdfhttps://www.whitehouse.gov/cea/written-materials/2023/05/03/debt-ceiling-scenarios/Federal Spending | U.S. Treasury Fiscal DataThe future US fiscal crisis and how to avert it w/ Romina Boccia, Cato Institute – EP159 – Economics ExploredThe IMF faces a nightmarish identity crisisHow China changed the game for countries in default | Financial TimesThere Is No Chinese ‘Debt Trap’ - The AtlanticFiscal Monitor April 2023Argentina raises interest rate to 97% as it struggles to tackle inflation | CNN BusinessArgentina inflation smashes past every forecast to hit 109% | ReutersThanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.

French journalist Guillaume Pitron discusses his book "The Dark Cloud: How the Digital World is Costing the Earth" with guest host Tim Hughes. The book explores the environmental impact of the digital world. Pitron delves into concerns about energy usage, e-waste, and the carbon footprint of the internet. The episode concludes with a debrief of Tim by regular host Gene Tunny on the conversation. Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice message via https://www.speakpipe.com/economicsexplored. About this episode’s guestGuillaume Pitron is a French journalist, author and filmmaker. He has written two books, published in some fifteen countries, about the natural resources needed for new technology. He has been invited to share his ideas in the French and international media (Le Figaro, BBC World Service, Bloomberg TV, El País, La Repubblica) and at international forums and institutions (Davos, IMF, European Commission, Unesco).Link to Guillaume’s website:https://www.en-guillaumepitron.com/What’s covered in EP189Introduction to this episode. (0:06)What is the dark cloud? (1:27)There is no digital life without rare earths. (3:54)What is the real cost of digital technology? (8:06)What’s the cost to the environment? (13:07)What can we do as individuals to make this better? (17:38)Facebook's Lapland data center. (22:22)Facebook uses hydro-electricity to run its servers. (24:25)What happens if there’s no water? (28:05)What is the future of the internet going to look like in 10 years? (33:18)Are there any governments around the world that are taking steps forward to regulate the internet? (41:02)What can be done to address this issue? (43:59)What were the main takeaways from the conversation? (48:11)Links relevant to the conversationThe Dark Cloud book:https://scribepublications.com.au/books-authors/books/the-dark-cloud-9781922585523Digital Cleanup Day:https://www.digitalcleanupday.org/Jevons paradox:https://en.wikipedia.org/wiki/Jevons_paradoxIt appears the Amiga hard drive Gene's neighbour in the late 1980s had was a 20MB hard drive:https://bigbookofamigahardware.com/bboah/product.aspx?id=534Thanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.

Seaweed is being advanced as a potentially important future food source, the greater farming and consumption of which could avoid environmental impacts associated with other agricultural production, especially of beef. Scott Spillias has recently submitted a PhD thesis at the University of Queensland on seaweed farming, and he’s been getting a lot of attention regarding his findings on seaweed’s potential. Show host Gene Tunny and Tim Hughes talk with Scott about the potential of using seaweed as an alternative food source. Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice message via https://www.speakpipe.com/economicsexplored. What’s covered in EP188The importance of plant-based foods in our diets. (1:36)The market for plant-based foods is growing. (9:39)Estimating the environmental impact of food production - the Economist’s banana index. (14:03)Scott’ Spillias’s research on seaweed farming. (27:27)How do you farm seaweed? What does it involve? (30:04)Where can we grow seaweed in Australia? (35:14)Seaweed has the potential to remove 2.6 billion tonnes of CO2 from the atmosphere per year. (40:02)What kind of seaweed is growing in the world? (44:49)How does seaweed farming prevent biodiversity loss and climate change? (49:50)Links relevant to the conversationScott Spillias’s UQ page:https://sees.uq.edu.au/profile/13311/scott-spilliasAustralian ABC News article on Scott’s research “Seaweed researchers find bright future for underwater crop”:https://www.abc.net.au/news/rural/2023-01-27/seaweed-research-uq-future-farming/101895072Guardian Australia article on Scott’s research “Food, feed and fuel: global seaweed industry could reduce land needed for farming by 110m hectares, study finds”:https://www.theguardian.com/environment/2023/jan/27/food-feed-and-fuel-global-seaweed-industry-could-reduce-land-needed-for-farming-by-110m-hectares-study-findsEconomist article featuring the banana index:A different way to measure the climate impact of food | The EconomistUN and World Bank reports on food and climate:https://www.un.org/en/climatechange/science/climate-issues/foodChapter 5 : Food Security — Special Report on Climate Change and LandWhat You Need to Know About Food Security and Climate ChangeReview of scientific evidence on “Risks and benefits of consuming edible seaweeds”:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6551690/Please note the key message of the above review:“If the potential functional food and nutraceutical applications of seaweeds are to be realized, more evidence from human intervention studies is needed to evaluate the nutritional benefits of seaweeds and the efficacy of their purported bioactive components.”Thanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.

Show host Gene Tunny talks with Dr. Nicholas Gruen, CEO of Lateral Economics, about the increasing focus of governments on wellbeing. For instance, former NZ PM Jacinda Ardern rebranded the national budget as a Wellbeing Budget, Wales has a Futures Generations Commissioner, and Australia is developing a new wellbeing framework, Measuring What Matters. Gene and Nicholas discuss the limitations of the current top-down approaches and platitudes, and consider potential solutions for better integrating wellbeing into policymaking. Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice message via https://www.speakpipe.com/economicsexplored. What’s covered in EP187What is the “well-being agenda”? (2:44)The “Easterlin paradox”. (5:08)How do you make these judgments? How do you measure well-being? (10:50)How is this relevant for policy? Should governments be tracking this broader measure? (28:36)Is complexity a plus or a minus in the Treasury wellbeing framework? (33:39)Why do you need a framework? (40:02)Good examples of programs which could improve wellbeing. (44:29)The importance of being connected to family and friends. (53:42)Links relevant to the conversationNicholas Gruen’s YouTube channel:https://www.youtube.com/@NicholasGruenVideo version of this episode on Nicholas’s Uncomfortable Collisions with Reality podcast:Wellbeing: can we escape the iron law of business-as-usualMeasuring what matters — second consultation process | Treasury.gov.auFairfax Lateral Economics Index of Australia's Wellbeing Final Report (the HALE index discussed in the conversation)Thanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.

Economics Explored host Gene Tunny talks about the “greedflation” (greed + inflation) hypothesis with his colleague Arturo Espinosa from Adept Economics. They discuss whether greedy corporations might be responsible for high inflation rates in advanced economies such as Australia and the United States. Gene talks about how the excessive fiscal and monetary stimulus during the pandemic has been a major contributor to higher inflation. Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice message via https://www.speakpipe.com/economicsexplored. What’s covered in EP186[00:01:28] Australia's high inflation rate.[00:06:57] UK windfall tax on oil and gas companies. [00:10:27] Greed inflation hypothesis. [00:13:29] Markups as a contributor to inflation. [00:16:20] Industry concentration and inflationary pressure. [00:21:11] Inflation outbreak and COVID stimulus relationship. [00:25:45] Problems with Covid stimulus. [00:27:58] Excessive stimulus and inflation. [00:32:35] Corporate power and antitrust.Links relevant to the conversationGreedflation articles:Blaming inflation on greedy business is a populist cop outProfits and Inflation in Mining and Non-Mining Sectors | The Australia Institute's Centre for Future WorkUnderlying Australia's inflation problem is a historic shift of income from workers to corporate profitsCorporate profits have contributed disproportionately to inflation. How should policymakers respond? | Economic Policy Institute'Greedflation' is the European Central Bank's latest headache amid fears it's the key culprit for price hikesHow Much Have Record Corporate Profits Contributed to Recent Inflation? - Federal Reserve Bank of Kansas CityCost-Price Relationships in a Concentrated Economy - Federal Reserve Bank of BostonInflation is being amplified by firms with market power  Chris Murphy’s economic modeling on stimulus and inflation in Australia:https://onlinelibrary.wiley.com/doi/full/10.1111/1759-3441.12382UK windfall profits tax:What is the windfall tax on oil and gas companies? - BBC NewsEnergy Profits Levy Factsheet - 26 May 2022 - GOV.UKRBA on sources of inflation in Australia:Box C: Supply and Demand Drivers of Inflation in Australia | Statement on Monetary Policy – February 2023 | RBACharts:Australian bank depositsAustralian money supply (M3)Thanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.

The Foundation for Economic Education’s Dan Sanchez argues that the invisible hand is a legitimate economic concept and not a religious or mystical one, as some critics of economics claim. Dan and show host Gene Tunny discuss the efficient organization of economic activities by the market mechanism in a decentralized way, without the need for a central planner. The conversation turns to TikTok and economic engagement with China. Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice message via https://www.speakpipe.com/economicsexplored. What’s covered in EP185Introduction to this episode [0:06]Dan’s article on the “invisible hand” [2:06]The production of a pencil is like an orchestra without a conductor [5:25]Is the invisible hand the hand of God? [8:34]What is the problem with central planning? [12:27]Central planners don’t like the idea of economic laws because they circumscribe their utopian dreams [15:45]Dan’s views on big tech [19:23]Is there a case for regulation or a ban on TikTok? [23:32]Links relevant to the conversationDan’s bio: https://fee.org/people/dan-sanchez/Dan’s Twitter handle: @DanSanchezVDan’s article on “How Atheist Anti-Capitalists miss the point”:https://fee.org/articles/how-atheist-anti-capitalists-miss-the-point/Von Mises book on the economic calculation problemhttps://mises.org/library/economic-calculation-socialist-commonwealthArticle about problems with Soviet shoe production:https://www.econlib.org/archives/2009/09/soviet_shoes.htmlBio of 19th century British free trade advocate Richard Cobden who Dan mentions:https://en.wikipedia.org/wiki/Richard_CobdenThanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Full transcripts are available a few days after the episode is first published at www.economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.