Immigration debate 'asinine'

[virtual_bajwa]

ONE of the world's leading economic historians has slammed Labor's "needless pseudo stimulus" spending.

Niall Ferguson has also criticised the election campaign's "pathetic" debate over capping immigration and population growth.

 

The visiting Harvard history professor said yesterday Australia's budget stimulus -- the third biggest in the developed world -- had not been justified by the size of the global financial crisis hit to this country's economy.

 

As well, Labor's budget stimulus had been weighted too much to increased spending rather than tax cuts or on rationalising the tax system.

 

It was "inconceivable" that Labor's budget stimulus had delivered significant macro-economic benefits, while it probably involved large macro-economic costs. "I think the whole thing was an over-reaction," he told a Centre for Independent Studies lunch in Sydney.

 

 

Professor Ferguson said the quality of Australia's election debate on immigration and population was "strongly reminiscent of the quality of debate in (Scotland's) Strathclyde region council".

 

Australia's population could well double by the 2050s but the election campaign was missing the opportunity to debate how to invest the economy's strong budget position in infrastructure-led growth.

 

Instead, Australia was indulging in the pretence that a "fantasy cap" could be put on immigration and population growth.

 

Issues such as traffic congestion in Sydney could be addressed without resorting to an "asinine" debate on immigration.

 

"You really never had it so good," Professor Ferguson said.

[Guest gratom]

A debate concerning immigration is not 'asinine';even if the quality of the debate is--it is an issue that causes huge concern to the citizens who have to pay the price[look elsewhere on the site for the number of builders being undercut by non-tax paying EU immigrants].That debate is going on in both the UK and Oz and quite rightly so.

As for his points concerning financial stimulus in both countries he is quite right---no nation ever got rich by taxing it citizens.Levels of taxation,overall,are much the same in both countries.Though salaries seem to be lower in Oz.

Ferguson is a very talented historian;but his views are best described as mercurial.Others views on all of this????:hug:

[Guest chris955]

I get the feeling that he, like many others, considers that immigration seems to be taking the focus away from genuine issues that affect people every day now and not years in the future.

[wrussell]

ONE of the world's leading economic historians has slammed Labor's "needless pseudo stimulus" spending.

Niall Ferguson has also criticised the election campaign's "pathetic" debate over capping immigration and population growth.

 

The visiting Harvard history professor said yesterday Australia's budget stimulus -- the third biggest in the developed world -- had not been justified by the size of the global financial crisis hit to this country's economy.

 

As well, Labor's budget stimulus had been weighted too much to increased spending rather than tax cuts or on rationalising the tax system.

 

It was "inconceivable" that Labor's budget stimulus had delivered significant macro-economic benefits, while it probably involved large macro-economic costs. "I think the whole thing was an over-reaction," he told a Centre for Independent Studies lunch in Sydney.

 

 

Professor Ferguson said the quality of Australia's election debate on immigration and population was "strongly reminiscent of the quality of debate in (Scotland's) Strathclyde region council".

 

Australia's population could well double by the 2050s but the election campaign was missing the opportunity to debate how to invest the economy's strong budget position in infrastructure-led growth.

 

Instead, Australia was indulging in the pretence that a "fantasy cap" could be put on immigration and population growth.

 

Issues such as traffic congestion in Sydney could be addressed without resorting to an "asinine" debate on immigration.

 

"You really never had it so good," Professor Ferguson said.

 

Richard Fisher of Dallas Fed in his recent speech points to this memorable quote from John Kenneth Galbraith.

Mind you, one of my professors at Harvard was John Kenneth Galbraith, who warned us that “economic forecasting was created to make astrology look respectable.”