Sectoral Balances

One of the most important concepts to understand within macroeconomics is the concept of sectoral balances. Macro can be divided into three distinct sections Government and Non-Government with the latter being divided into domestic and foreign. These divisions come from the system of national accounts (an international standard) and the way GDP is calculated. GDP […]

Solving inequality requires getting macro right!

The ACTU last year in April released this report into inequality in Australia. It starts with the statement “Extreme inequality – which is what we are now experiencing in Australia – slows economic growth, creates social havoc and undermines faith in our political institutions.” Which I wholeheartedly agree with. In this post I aim to […]