macroeconomics

Table of Contents

Part 1: Background to the Present Situation

  • Introduction: WW2 and all that (Page 2)

  • Chapter 1: Why macroeconomics must be replaced (Page 9)

Part 2: Proposed New Approach

  • Chapter 2: The ducks formed a row and hid in plain sight – for decades (Page 49)

    • 2.1. Criteria for allocating enterprises between categories on the basis of managerial motivation and efficiency (Page 49)

    • 2.2. Managerial or business economics (Page 56)

    • 2.3. System dynamics modelling (Page 56)

    • 2.4. Discriminant analysis (Page 58)

    • 2.5. Ratio analysis (Page 59)

    • 2.6. Calculation of overall ‘scores’ for individual enterprises (Page 59)

  • Chapter 3: What replaces macroeconomics? (Page 60)

  • Chapter 4: Reform of public-sector management control and processes of providing advice to ministers (Page 66)

    • 4.1. Proposed new arrangements (Page 66)

    • 4.2. A case study (Page 72)

  • Chapter 5: Future conduct of national economic management and policy (Page 75)

    • 5.1. Overall (Page 75)

    • 5.2. The pandemic (Page 77)

      • 5.2.1. Problems are also opportunities (Page 77)

      • 5.2.2. Responsiveness of the orthodoxy (Page 79)

    • 5.3. US House and Senate Budget Committees. Proposed initiatives to help pay for the multi-trillion social spending bill (Page 80)

  • Chapter 6: The largest group self-indulgence in history? (Page 82)

Part 3: Selected Problem Areas

  • Chapter 7: Global Financial Crisis 2007-8 and aftermath (Page 87)

    • 7.1. Real causes of, and solutions to, the Global Financial Crisis 2007-? (Page 89)

    • 7.2. The Okonogi interview of Paul Samuelson (Page 100)

    • 7.3. US poverty (Page 103)

  • Chapter 8: Brexit (Page 110)

  • Chapter 9: Alleged criminal use of bank facilities and processes: the Commonwealth Bank of Australia (CBA) and other financial institutions (Page 114)

  • Chapter 10: US Health Care System (USHCS) (Page 117)

    • 10.1. Functional content and features of the USHCS (Page 120)

      • 10.1.1. The overall system (Page 120)

      • 10.1.2. Medicaid (Page 125)

      • 10.1.3. Medicare (Page 133)

      • 10.1.4. System regulators (Page 137)

    • 10.2. The existing situation (Page 138)

      • 10.2.1. Federal coverage mandates (Page 138)

      • 10.2.2. The uninsured, including public opinion about them (Page 142)

      • 10.2.3. Hospital costs and margins (Page 143)

      • 10.2.4. Insurers, including government payments/subsidies to (Page 144)

      • 10.2.5. Subsidies to help afford coverage (Page 148)

    • 10.3. Attempts at reform. Republican attempts to repeal Obamacare, plus other ideas for ‘improving’ health care (Page 149)

    • 10.4. Reasons for problems and for failures to reform (Page 160)

      • 10.4.1. Desired government involvement (Page 160)

      • 10.4.2. What’s wrong with the system? (Page 162)

    • 10.5. A best-practice solution (Page 173)

Part 4: A Selection of Professional Applications of the Management Control and Planning Techniques

  • Chapter 11: Hospital: a professional system dynamics application (Page 178)

    • 11.1. Nature and content of the software (Page 178)

    • 11.2. Functionality of the hospital models (Page 180)

    • 11.3. Uses of the software (Page 181)

  • Chapter 12: Operational air force: a professional system dynamics application (Page 184)

    • 12.1. Introduction (Page 184)

    • 12.2. Content of the software (Page 184)

    • 12.3. Aggregation from unit level to higher command and seniority levels (Page 185)

    • 12.4. How is the software validated? (Page 186)

    • 12.5. Uses of the software (Page 187)

    • 12.6. Independent air force assessments (Page 188)

  • Chapter 13: Airline: a professional system dynamics application (Page 189)

    • 13.1. Content of the software: overview (Page 189)

    • 13.2. The airline global scheduled flying model (Page 191)

    • 13.3. Functionality of the airline global scheduled flying model (Page 192)

    • 13.4. Functionality of the combined model ‘airline global scheduled flying and engineering and maintenance’ (Page 193)

    • 13.5. Uses of the software (Page 194)

  • Chapter 14: Rail network: a professional system dynamics application (Page 195)

    • 14.1. The rail-network model: introduction (Page 195)

    • 14.2. Content of the software (Page 197)

    • 14.3. Functionality of the rail-network model (Page 199)

    • 14.4. Uses of the software (Page 201)

  • Chapter 15: Hotel: a professional system dynamics application (Page 203)

    • 15.1. The hotel model: introduction (Page 203)

    • 15.2. Functionality of the hotel model (Page 205)

    • 15.3. Uses of the software (Page 206)

Postscript

  • End of a latter-day pax romana? (Page 207)

Appendices

  • Appendix 1: Email correspondence with the London School of Economics about Brexit (Page 210)

  • Appendix 2: Commonwealth Bank of Australia (CBA): alleged criminal use of its ‘smart ATMs’ (Page 215)

  • Appendix 3: Australian Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry: submission (Page 225)

  • Appendix 4: Independent Review of the Australian Federal Public Service (APS): submission (Page 232)

  • Appendix 5: Australia’s National Broadband Network (Page 238)

  • Appendix 6: Feedback loops, positive and negative (Page 239)

  • Appendix 7: Letter of 23 November 2018 to the Hon. Jerome H Powell, Chairman, Federal Reserve Board; and a response dated 20 December 2018 (Page 240)

  • Appendix 8: Letter of 27 March 2009 to President Obama (Page 243)

  • Appendix 9: Letter of 3 April 2017 to Sir Jeremy Heywood, UK Cabinet Secretary (Page 246)

  • Appendix 10:

    • a) Letter of 27 July 2020 to Dr Steven Kennedy, Secretary, Australian Federal Treasury

    • b) letter copied to Dr Richard Denniss, Chief Economist, Australia Institute 2 September 2020 (Page 248)

  • Appendix 11: US House and Senate Budget Committees. Proposed initiatives to help pay for the multi-trillion social spending bill (Page 250)

  • Appendix 12: Validation measures for system dynamics models (Page 253)

  • Appendix 13: How central bankers blew up the global economy, Verrender, Ian, ABC business editor, March 11 2019 (Page 256)

  • Appendix 14: Problems in Australian Defence Matériel Procurement. Comments on media statements by Defence Ministers, 10 October 2022 (Page 259)

  • Appendix 15: Confederation of British Industry: macroeconomic strongpoint? (Page 262)

  • Appendix 16: Office of the Leader of the UK Opposition. Apparent ongoing commitment to the macroeconomic orthodoxy (Page 266)

  • Appendix 17: New software for NHS hospitals (Page 268)

  • Appendix 18: Other correspondence with UK Health and the NHS (Page 269)

  • Appendix 19: Transport for NSW (Page 273)

Bibliography

  • Bibliography (Page 279)

Index

  • Index (Page 285)