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Wednesday, 17 February

17:53

The impossibility theorem that beguiles the Left Bill Mitchell – billy blog

Some years ago (June 27, 2007), Harvard economist Dani Rodrik outlined what he called his “impossibility theorem”, which said that “democracy, national sovereignty and global economic integration are mutually incompatible: we can combine any two of the three, but never have all three simultaneously and in full”. In his brief article – The inescapable trilemma of the world economy – he made the case that “deep economic integration required we eliminate all transaction costs … in … cross-border dealings” and that “Nation-states are a fundamental source of such transaction costs”. Ergo, if you want ‘deep’ integration then the Nation-state has to surrender. His “trilemma” guides his view of how the “international economic system” should be reformed. He think that if “want more globalization, we must either give up some democracy or some national sovereignty”. This view has been adopted by political parties as if the conceptual framework is in some way binding. The trilemma has been skillfully sold as a narrative by right-wing think tanks and others who serve the interests of capital. The so-called progressive politicians have fallen into the trap and have shifted their political parties closer and closer to their right-wing opponents, such that now it is hard to distinguish between the major parties in most nations. The reality is that while the impossibility theorem beguiles the Left – its applicability as a binding constraint on government is limited. It is as vapid as the statements made by these career politicians on both sides of politics that they serve the people.

The UK Guardian article (February 16, 2016) –...

14:56

Redback teams with UQ to accelerate solar + storage system roll-out Renew Economy

Redback Technologies signs research partnership agreement with University of Queensland, to speed up commercialisation of its hybrid solar + storage units.

14:50

Shale gas legacy: US accounts for most of global methane growth Renew Economy

There was a huge global spike in one of the most potent greenhouse gases driving climate change over the last decade, and the U.S. may be the biggest culprit.

14:49

Australian charging firm Tritium to triple production of Veefil EV fast chargers Renew Economy

Tritium moves to bigger factory in Brisbane to meet growing international demand for its Veefil fast chargers.

13:02

This battery storage revolution could happen quicker than we thought Renew Economy

Interest in battery storage is even stronger than the energy industry expected, helped along by the marketing power of Tesla, and interest from popular programs such as Catalyst. And consumers don't seem to care about details such as returns on investment.

12:39

Treasury Secretary falls for Gearing Myth Prosper Australia

Recently the Treasury Secretary John Fraser was found wanting in the Senate Economics committee on the most controversial tax in the country. When asked by Senator Peter Whish-Wilson what would happen to rents if Negative Gearing was removed, he provided the following answer: Treasury Secretary John Fraser: Uh… I’m testing my memory and I’m looking… […]

11:30

NSW to rush through bills to address solar charges and bottlenecks Renew Economy

NSW proposes new legislation seeking to avoid the potential of a consumer revolt around arrangements for the end of the solar bonus scheme later this year.

Monday, 15 February

00:10

Indonesia: Big Bang Reforms Or Small Pop? The Diplomat » Pacific Money

It’s opening its doors, but some significant restrictions will remain.

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