Cronyism

Hack asks the right questions on agricultural handouts

I have been pretty critical of Triple J in the past but today on Hack, Tom Tilley really turned the screws onto Barnaby Joyce, Federal Agricultural Minister, about the recent announcement of handouts to farmers (listen from the 24min mark):

Tilley points out the truth – that farming isn’t anything special, that they aren’t the only business with long term time frames for revenue and that they need to plan more for the future. The paucity of Joyce’s arguments is exposed when Tilley pointed out the economic truth about farming, that maybe the future is in getting bigger – he falls back to a political argument (he can’t sell it), a cultural argument (that small family farms are inherently good) and a distraction (that the ABC is exposed to the same argument, which is true). In the end, Joyce has no credible economic argument for these handouts – it is a political fix for a favoured group of constituents.

Tilley would do well to interview LDP Senator-elect for NSW, David Leyonhjelm, who slays the arguments for agricultural subsidies.

KRONIES: They’re Konnected!

Let me state for the record: John Papola is a genius. Fear The Boom and Bust is a great video but not exceptional IMHO. Fight of the Century, by comparison, is simply brilliant – first rate production values, better tune and even better lyrics, plus one of my fav economists, Mike Munger, cameos at the start. It combines an awesome premise (rap battle between two dead economists) and fuses it with simple lyrics that states what is at stake in a way that any thinking layman can understand. It is probably one of my fav YouTube videos of all time. Emergent Order’s followup Deck the Halls with Macro Follies maintains the high production values and is very clever but its a bit wonky for the regular Joe.

But then they release this:

This is so good on so many levels that I am genuinely flabbergasted. An excellent take that brilliantly drives at the corruption that lies at the heart of cronyism. 11/10 would watch again. Check out the rest of the website.