Thailand is happy about being the least miserable country in the world in the in the Bloomberg Misery Index, which is an economic indicator devised by Arthur Okun, and is derived by simply adding the forecasts of unemployment and inflation for the following year.
However, Thailand’s performance in the index is due to the Thai government’s unique way of tallying unemployment. More noteworthy are the performances of Switzerland, Japan and Singapore. For what it’s worth, here are the 10 least miserable: Continue reading Weekly salon 4/5→
The Grattan Institute found that providing tax cuts in the never-never while reducing government expenditure from 24.9% of GDP in 2018-19 to 23.6% during the next decade will necessitate cutting existing programs by more than A$40 billion a year in 2029-30. That should have been the story of the week, but somehow it wasn’t.
While Labor’s 2019 Climate Acton Plan has been completely rewritten compared to the plan they took to the 2016 election the target of 45% emissions reductions (from 2005) by 2030 remains the same. I can’t recall whether they espoused zero emissions by 2050, as they do now, I think it may have been 90%. Their overall strategy is, I think, based on six considerations.
Firstly, Labor acknowledges the cost of doing nothing:
Failure to act on climate change will expose the Australian people and environment to devastating costs for our economy, society, security, health and environment. Experts at the ANU, University of Melbourne and CSIRO estimate failing to keep global warming to below two degrees will eventually cost the average Australian household $14,000 per year.
Secondly, they say:
Labor accepts the science of climate change and endorses the Paris Agreement to keep global warming well below two degrees Celsius as well as a more qualified commitment around a 1.5 degree threshold.