Economics Explored

Serial entrepreneur and executive coach Rick Yvanovich talks about his new book "Business as Unusual: How to Thrive in the New Renaissance." Rick argues that the world is continuing to undergo a massive shift and that there is no going back to normal. He shares his insights on the mindsets, habits, and skills necessary to succeed in this new era. The conversation also touches on Rick's journey to Vietnam, where he currently resides, and what it was like living in Saigon during the pandemic. 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 guest: Rick YvanovichEntrepreneur, Techie, Brit, baby boomer, bean counter in: supermarkets, accounting profession, breweries, newsagents, defence manufacturing, IT, Talent, F&B, property development and BP, in the UK, China, Singapore, Switzerland and Vietnam. Posted to BP China as Finance Manager, then to BP Vietnam in 1990 making him likely the longest Brit and one of the most seasoned expats in Vietnam.Fellow Chartered Institute of Management Accountants (CIMA), Chartered Global Management Accountant (CGMA), Fellow CPA Australia, MSc Strategic Business Management (Manchester Metropolitan University, UK), Certified Coaching and Mentoring Professional (CCMP), Certified Master Coach (CMC).Treasurer & Board Member BritCham Vietnam, Vice-Chair AMCHAM HCMC DEC (Digital Economy) Group, Chairman Industry Advisory Committee RMIT Vietnam, founder/co-founder/investor/advisor of multiple start-ups.Regular speaker for Talent, Coaching, Accounting, Digital Transformation, Project Management, Doing Business in Vietnam.For further info about Rick, check out:https://www.rickyvanovich.com/about/What’s covered in EP204[00:01:45] Rick’s career and journey to Vietnam[00:08:00] Business as Unusual. [00:13:27] The great reshuffle. [00:16:29] The impact of lockdowns in Saigon. [00:25:01] Technological advancement. [00:29:19] Climate change and AI. [00:33:24] How to Thrive in the New Renaissance. [00:36:11] How AI helps you overcome the tyranny of the blank page. [00:41:06] Reflecting on life during COVID. [00:46:19] Zoom calls as a lifeline during COVID. Links relevant to the conversationRick’s book Business as Unusual:https://www.rickyvanovich.com/books/bauu-book-series/Article on “How AI is helping airlines mitigate the climate impact of contrails”:https://blog.google/technology/ai/ai-airlines-contrails-climate-change/  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 and Simon Cowan from the Centre for Independent Studies discuss housing affordability and greedflation in the CIS’s Sydney HQ. They delve into recent articles written by Simon on these topics and explore the factors contributing to unaffordable housing (e.g. zoning and other supply restrictions) and why the greedflation thesis is wrong. 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 guest: Simon CowanSimon Cowan is Research Director at the CIS. He is a leading commentator on policy and politics, with a regular column in the Canberra Times newspaper, frequent interviews on Sky and the ABC, and multiple appearances before parliamentary committees discussing the budget, citizenship, taxation and health policy. He has written extensively on government spending and fiscal policy, with a specific focus on welfare and superannuation policy. He earlier work focused on government industry policy, defence and regulation.His latest work includes Attitudes to a post-Covid Australia and Millennials and Super: the case for voluntary superannuation. Some of his other works include a co-authored report on pensions, a deep dive into the Universal Basic Income, and a 2012 piece arguing that Australia should acquire nuclear submarines from the Americans.What’s covered in EP203The problem with housing affordability. (4:56)High property prices and housing affordability. (10:02)Should we cap migration to improve housing affordability? (14:24)The role of public/social housing. (19:12)Shared equity schemes. (24:15)Home ownership as a key milestone on the way to retirement. (29:09)Local government regulations and housing affordability. (35:06)The Greedflation hypothesis and why it’s wrong. (39:04)Links relevant to the conversationSimon’s Canberra Times articles on housing affordability and greedflation:The Coalition can create generational voting change by tackling housing affordability - The Centre for Independent Studies'Greedflation' myth hides real causes of inflation - The Centre for Independent StudiesImages from the Bill Leak room including a poem from Sir Les Patterson (i.e. Barry Humphries):Sir Les with Bill Leak.jpgSir Les's poem about Bill Leak part 1.jpgSir Les's poem about Bill Leak part 2.jpgPast Economics Explored episode discussing wage-price spiral mentioned by Gene:https://economicsexplored.com/2022/06/14/stagflation-be-alert-not-alarmed-ep143-transcript/Transcript of Q&A session following Phil Lowe’s speech in Brisbane in July 2023 during which Gene asked the RBA Governor about Greedflation:https://www.rba.gov.au/speeches/2023/sp-gov-2023-07-12-q-and-a-transcript.htmlFull 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.

A conversation regarding the transition to net zero greenhouse gas emissions in Australia, with Andrew Murdoch, the Managing Director of Arche Energy. Andrew shares his positive outlook and realistic insights into the challenges of integrating renewable energy into the electricity grid. He also advocates for being open to a range of options, including nuclear power and carbon capture and storage.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 guest: Andrew MurdochAndrew Murdoch is the Founder and Managing Director of Arche Energy. Andrew has been operating in technical-commercial roles in the Queensland National Electricity Market (NEM) Zone since it was first founded over 20 years ago. In 2017, he founded Arche Energy to provide a high-quality clean energy, power and infrastructure consultancy to facilitate investment in the clean energy sector. He is an experienced general manager, project director and engineer operating in renewable power, power generation, energy, ports and heavy infrastructure.His experience spans business development activities, major approvals, project execution, operations and maintenance and decommissioning. Andrew is an innovator and optimiser thriving in changing environments through the adaptation and integration of emerging and innovative technologies into business applications.What’s covered in EP202How is the transition to net zero going? (1:59)The problem with intermittent generation. (7:36)Transitioning from one energy source to another. (13:40)Traditional hydro & pumped hydro. (16:08)Geotechnical risks in construction. (20:11)The infrastructure challenge. (24:00)Zero marginal cost power. (30:23) The role of nuclear energy in the transition to net zero. (45:42)Links relevant to the conversationPrevious Economics Explored episodes relevant to this episode:The Aussie electricity market malfunction of June 2022 – EP156 – Economics ExploredSir David Hendry on economic forecasting & the net zero transition – EP198Thanks 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 Centre for Independent Studies’ Peter Kurti asks “ Should those who know best rule the rest of us?” In this episode, host Gene Tunny chats with Peter about his new paper "Authority, Expertise and Democracy," which explores the role of experts in government and how society should best utilize their knowledge in public policy making. They delve into the question of when it makes sense to delegate power to experts and the relevant considerations. The role of experts in decision making around the pandemic, monetary policy, and AI are discussed. 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 guest: Peter KurtiPeter Kurti is Director of the Culture, Prosperity & Civil Society program at the CIS. He is also Adjunct Associate Professor in the School of Law at the University of Notre Dame Australia, and Adjunct Research Fellow at the Australian Centre for Christianity and Culture at Charles Sturt University. He has written extensively about issues of religion, liberty, and civil society in Australia, and appears frequently as a commentator on television and radio. In addition to having written many newspaper articles, he is also the author of The Tyranny of Tolerance: Threats to Religious Liberty in Australia; Euthanasia: Putting the Culture to Death?; and Sacred & Profane: Faith and Belief in a Secular Society, published by Connor Court. Peter is a Fellow of the Royal Society of Arts, and an ordained minister in the Anglican Church of Australia.What’s covered in EP201[00:02:30] Authority and experts in government.[00:04:07] Impact of experts during COVID. [00:09:29] Discrimination and lockdown restrictions. [00:13:29] Delegating power to experts. [00:18:12] Politicians' difficult role in decision-making. [00:21:11] Trade-offs in decision making. [00:27:23] Vaccine mandates. [00:34:27] AI and expert advice. [00:37:35] Expert advice and self-interest. [00:37:59] The importance of delegation of monetary policy decisions. [00:40:19] Expert Failure book by Roger Koppl. [00:43:33] Experts and human failings. [00:50:32] The length of the leash. [00:52:12] The role of experts in policy making.Links relevant to the conversationPeter Kurti’s new paper for the Centre for Independent Studies:Authority, Expertise And Democracy. Should those who know best rule the rest of us?Episode on Public Choice theory mentioned by Gene:EP93 – Public Choice theory with Dr Brendan Markey-Towler – Economics ExploredThanks 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.

In this special 200th episode of Economics Explored, host Gene Tunny is joined by Tim Hughes to discuss some of the highlights from the last 100 episodes. The episode features clips of Brad DeLong (UC Berkeley) describing how we’ve been slouching towards utopia since 1870, Sir David Hendry (Oxford) on the merits of small modular nuclear reactors, Leonora Risse (RMIT) on the benefits of diversity, and Super Forecaster Warren Hatch on what makes a good forecaster, among others.  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 EP200[2:24] Brad DeLong on Slouching towards Utopia[10:01] Jon Erickon’s vision of an economy “built on maintenance, resilience and cooperation instead of growth, efficiency and competition” - check out his book The Progress Illusion: Reclaiming Our Future from the Fairytale of Economics[25:29] Wayne Visser shares his optimism regarding how we’re dealing with environmental challenges - check out his book Thriving: The Breakthrough Movement to Regenerate Nature, Society, and the Economy[32:08] Sir David Hendry on the merits of small nuclear reactors[38:05] Warren Hatch on what makes a good forecaster[43:36] Leonora Risse on the benefits of diversity for decision making[52:20] Deb Brown on critical thinking[58:05] Andrew May on how he went from Australian cricket performance coach to executive coach to CEOs of ASX 50 companiesLinks relevant to the conversationEpisodes from which clips were taken from:Slouching Towards Utopia w/ Brad DeLong – EP163 – Economics ExploredThe Progress Illusion w/ Jon Erickson – EP166 – Economics ExploredThriving w/ Wayne Visser, Cambridge & Antwerp sustainable business expert – EP130Sir David Hendry on economic forecasting & the net zero transition – EP198Superforecasting w/ Warren Hatch, CEO of Good Judgment – EP176 – Economics ExploredWomen in Economics with Dr Leonora Risse of RMIT, Melbourne – EP124Truth (or the lack of it) in politics and how to think critically with help from Descartes – EP123 – Economics ExploredThe importance of physical & mental health for top CEO performance w/ Andrew May – EP193Link to info about Windscale fire mentioned in conversation between Gene and Tim:Windscale fire - WikipediaThanks 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.

Nicholas Gruen, CEO of Lateral Economics, and host Gene Tunny discuss the topics of ESG (Environmental, Social, and Governance) mandates and Liberty. They explore how ESG mandates can create confusion among executives and investors, and delve into Nicholas' perspective on Liberty, how to take it seriously and the best way to think about it. Nicholas tells a story from the early 1980s about how he tried to change Australia’s laws which allow Parliament to lock people up for contempt of Parliament. The conversation also touches on Nicholas' concept of citizens' juries, which is gaining support internationally, including from Martin Wolf at the Financial Times.Nicholas Gruen, CEO of Lateral Economics, and host Gene Tunny discuss the topics of ESG (Environmental, Social, and Governance) mandates and Liberty. They explore how ESG mandates can create confusion among executives and investors, and delve into Nicholas' perspective on Liberty, how to take it seriously and the best way to think about it. Nicholas tells a story from the early 1980s about how he tried to change Australia’s laws which allow Parliament to lock people up for contempt of Parliament. The conversation also touches on Nicholas' concept of citizens' juries, which is gaining support internationally, including from Martin Wolf at the Financial Times.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 EP199[00:01:32] Citizens' juries and economic policy. [00:02:41] Does divestment from emissions intensive firms reduce emissions?[00:06:47] Investing in fossil fuel companies to help them transition.   [00:11:58] Carbon pricing. [00:17:54] Australian consumers and carbon pricing. [00:23:26] A different mode of governance. [00:26:14] Liberty during the COVID pandemic. [00:30:46] House of Commons Privileges Committee. [00:34:32] Safeguards and legitimacy in governance. [00:40:25] Rushed legislation during a pandemic. [00:43:33] High level political discussion. [00:50:06] Managing a crisis.Links relevant to the conversationNicholas’s YouTube channel:https://www.youtube.com/@NicholasGruenVideos of conversations featured this episode:Why ESG is a puppet show and what to do about it  Liberty: Safety from tyranny or doing what you like?Club Troppo posts:https://clubtroppo.com.au/2023/07/11/why-esg-is-a-puppet-show-and-what-to-do-about-it/https://clubtroppo.com.au/2021/08/22/lockdowns-and-liberty/Regarding the journalists locked up the Australian Parliament in the 1950s:https://clubtroppo.com.au/2021/08/22/lockdowns-and-liberty/Freakonomics episode on ESG that Nicholas mentions:https://freakonomics.com/podcast/are-e-s-g-investors-actually-helping-the-environment/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.

Sir David Hendry, the renowned British econometrician, talks to hosts Gene Tunny and Tim Hughes about the state of economic forecasting and the transition to net zero greenhouse gas emissions. Among other things, Sir David talks about how to avoid major economic forecasting failures (e.g. UK productivity), forecasting global temperatures after volcanic eruptions, and the role of nuclear energy in the net zero transition. Sir David is currently Deputy Director of the Climate Econometrics group at Oxford. 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 Sir David HendrySir David F. Hendry is Deputy Director, Climate Econometrics (formerly Programme for Economic Modelling), Institute for New Economic Thinking at the Oxford Martin School and of Climate Econometrics and Senior Research Fellow, Nuffield College, Oxford University. He was previously Professor of Economics at Oxford 1982--2018, Professor of Econometrics at LSE and a Leverhulme Personal Research Professor of Economics, Oxford 1995-2000. He was Knighted in 2009; is an Honorary Vice-President and past President, Royal Economic Society; Fellow, British Academy, Royal Society of Edinburgh, Econometric Society, Academy of Social Sciences, Econometric Reviews and Journal of Econometrics; Foreign Honorary Member, American Economic Association and American Academy of Arts and Sciences; Honorary Fellow, International Institute of Forecasters and Founding Fellow, International Association for Applied Econometrics. He has received eight Honorary Doctorates, a Lifetime Achievement Award from the ESRC, and the Guy Medal in Bronze from the Royal Statistical Society. The ISI lists him as one of the world’s 200 most cited economists, he is a Thomson Reuters Citation Laureate, and has published more than 200 papers and 25 books on econometric methods, theory, modelling, and history; computing; empirical economics; and forecasting.What’s covered in EP198Conversation with Sir David:[00:02:27] Economic forecasting: are we any better at it? [00:05:56] Forecasting errors and adjustments. [00:08:04] Widespread use of flawed models. [00:12:45] Macroeconomics and the financial crisis. [00:16:30] Indicator saturation in forecasting. [00:21:02] AI's relevance in forecasting. [00:24:23] Theory vs. data driven modeling. [00:28:09] Volcanic eruptions and temperature recovery. [00:32:26] Ice ages and climate modeling. [00:37:09] Carbon taxes. [00:40:10] Methane reduction in animal agriculture. [00:44:43] Small nuclear reactors: should Australia consider them?[00:49:08] Solar energy storage challenge. [00:54:00] Car as a battery. [00:57:01] Simplifying insurance sales process. [01:01:19] Climate econometrics and modeling.Wrap up from Gene and Tim: [01:03:23] Central bank forecasting errors. [01:07:12] Breakthrough in battery technology. [01:11:18] Graphene and clean energy. Links relevant to the conversationClimate Econometrics group at Oxford:https://www.climateeconometrics.org/Conversation with John Atkins on philosophy and truth mentioned by Tim:https://economicsexplored.com/2021/10/16/ep109-philosophy-and-truth/Info on solid state batteries and graphene:https://www.topspeed.com/toyota-745-mile-solid-state-battery/https://theconversation.com/graphene-is-a-proven-supermaterial-but-manufacturing-the-versatile-form-of-carbon-at-usable-scales-remains-a-challenge-194238https://hemanth-99.medium.com/graphene-and-its-applications-in-renewable-energy-sector-333d1cbb89ebThanks 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 chats with James Kwan, in-house counsel at VentureCrowd, about venture capital. VentureCrowd describes itself as “Australia's leading equity crowdfunding investment platform, leveraging the power of crowdfunding for investments that back a better future.”  Gene and James discuss how VentureCrowd is bringing venture capital investment opportunities to a wider audience through equity crowdfunding. Tune in to learn about the significance of venture capital in financing and supporting innovative ideas and businesses, particularly in the early stages when traditional sources of capital may be less accessible. Of course, listeners are reminded to do their own research and seek professional advice before making any investment decisions. 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 EP197James’ thoughts on venture capital and what he does at VentureCrowd. (1:31)Initial thoughts on government policy towards VC (6:26)The valley of death for startups (12:05)What’s the range of funding for startups? (13:07)Challenges in accessing the private capital markets. (17:29)Crowdsourcing VC investment  - example of success: Be Fit Food (19:50)What is VentureCrowd’s pitch to investors? (21:41)ESG investments and societal values. (24:13)What are the different ways people can invest through VentureCrowd? Is it based on specific startups? (25:54)Tricky legal issues in VC. (27:01)What’s the impact of blockchain on venture capital? (32:04)Government assistance for entrepreneurs e.g. Breakthrough Victoria Fund (37:51)Links relevant to the conversationVenture Crowd website:https://www.venturecrowd.com.au/s/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 episode delves into the effectiveness of monetary policy by central banks in managing the economy over the business cycle. Do the actions of central banks stabilize or destabilize economies? Show host Gene Tunny chats with Addison Wiggin, a bestselling author, market economist, and host of the Wiggin Sessions podcast, about monetary policy and financial crises. Addison also shares some reflections on the US debt ceiling drama. This is part 2 of the conversation Gene held with Addison in early June 2023, the first part of which was released as EP192 on the US banking crisis.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 guest: 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 EP196How is it that the US dollar can be the reserve currency of the world? (2:37)Why not just accept that the business cycle is a thing and not do anything about it? (7:25)Minsky’s instability thesis. (11:42)The debt ceiling is just political theater. (16:52)Central bankers and economists thought we’d solve the problem of business cycle management. (21:29)How monetary policy was determined during the Gold standard era (25:06)When the Federal Reserve presided over the contraction of the US money supply as multiple banks failed, the money supply fell 30% from 1930 to 1933. (30:17)What does all this mean in the current context? (35:54)Central banks need to choose wisely and they need some methodology to do so. (41:23)Links relevant to the conversationPart 1 of Gene’s conversation with Addison:https://economicsexplored.com/2023/06/18/exploring-the-us-banking-crisis-with-addison-wiggin-ep192/US Federal Reserve on what happened to monetary policy during the Great Depression, “From the fall of 1930 through the winter of 1933, the money supply fell by nearly 30 percent.”:https://www.federalreservehistory.org/essays/great-depressionEpisode with Stephen Kirchner in April 2022 in which the “lean versus clean” debate was discussed:https://economicsexplored.com/2022/04/20/nominal-gdp-targeting-w-stephen-kirchner-ep135/Till Time's Last Sand: A History of the Bank of England by David Kynaston:https://www.amazon.com.au/Till-Times-Last-Sand-1694-2013/dp/1408868563Thanks 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.

Richard Vague, a prominent American businessman and investor, discusses the benefits and drawbacks of debt, offering thought-provoking ideas to manage and reduce debts. He proposes a debt jubilee as a solution to debt outpacing GDP, explores debt forgiveness and restructuring, and suggests potential policy measures to address inequality.