Burgernomics

By Ross MacDowell

Ross MacDowell and Australia's top experts demystify economic topics that affect your life....crypto, blockchain, quantitative easing, the 10 year bond yield rate, carbon neutral, core inflation versu... more

· Business

5

11 ratings

Download on the App Store

Download on the App Store

Get it on Google Play

FAQs about Burgernomics:

How many episodes does Burgernomics have?

The podcast currently has 55 episodes available.

Burgernomics episodes:

March 12, 202455: Turbocharging The Price You Pay In 170 Secs
Key Points:
Traditionally, the law of supply and demand dictates prices in the marketplace, where buyers and sellers agree on a price based on publicly available information.
Dynamic Pricing, a system increasingly employed by sellers, adjusts prices continuously based on buyer demand. This dynamic nature allows sellers to maximize profits.
However, the twist comes when the purchase price isn't publicly visible. Imagine searching for an item online and the price presented to you is determined by complex algorithms analyzing your personal data.
This lack of transparency leaves consumers feeling uneasy, leading to calls for government intervention. But in a capitalist market economy, where willing buyers dictate prices, intervention becomes complicated.
The integration of algorithms and data mining into dynamic pricing turbocharges the traditional supply and demand law, promising benefits like reduced business risk, increased profits, employment, and tax revenue.
Yet, this advancement poses a significant challenge. With online spending skyrocketing, it becomes increasingly difficult for statistical agencies like the Australian Bureau of Statistics to produce accurate consumer price index (CPI) data. The CPI is crucial for economic policies, including setting mortgage rates by the Reserve Bank.

Conclusion:
As technology reshapes the way we buy and sell goods, the implications of dynamic pricing extend far beyond individual transactions. It challenges traditional economic models and raises questions about fairness and transparency in the marketplace.
...more
4min
February 27, 2024 54: Airline Tickets. Everyone isn't offered the same price?
Does Dynamic Ticket Pricing used by airlines lead to the passenger sitting next to you having paid a different price for their seat?

Airlines are masters at gathering data. They can harvest your frequent flyer data and track your computer searches via cookies. How often is this data used to ‘tailor’ the price of your ticket?

Can airline’s trawl your LinkedIn account matching a conference you may need to fly to and charge you more for that airline ticket?

Is it common for an airline's app to show a different price than their own website?

Methods airlines use in maximising revenue or reducing costs. Algorithms that at pre defined time assess whether passenger numbers on a flight aren’t great enough to meet revenue targets so automatically cancel a flight.

What effect will artificial intelligence have on ticket pricing?

Tips & tricks to reduce your exposure to higher ticket prices created through Dynamic Ticket Pricing.

Who provides the best ticket price, availability and choice of cabin class, the travel agent or the airline site or a 3rd party booking site?

...more
54min
December 12, 202353: Good Or Evil Doesn't Win Wars. Only Economics Wins Wars. In 110 Seconds
Welcome to the latest episode of Burgernomics! Today, we delve into the harsh reality that economics, not notions of good or evil, often dictates the outcome of wars.
Recent developments, including Vladimir Putin allocating a staggering one-third of Russia's economic output to defense, highlight the economic dimension of modern warfare.
Key Points:
Russia's Economic Commitment:
Putin directs 33% of Russia's economic output to defense, amounting to $820 billion annually, 15 times more than Australia's projected defense expenditure.
The move underscores the role of economic decisions in shaping military capabilities and strategies.
Volunteer Soldiers and Economic Incentives:
Russian volunteer soldiers enticed by substantial pay, earning four times the average monthly salary, will contribute to the military force.
Families of soldiers receive significant compensation if killed, creating a unique economic dynamic in the armed forces.
Labor Shortages and Economic Impact:
The influx of men into the army leads to severe labor shortages across Russia, affecting not only the military but also the broader economy.
Even penal colonies are tapped for labor, illustrating the extent of the workforce mobilization.
Economic Adaptability:
Russia's ability to redirect civilian production instantly for wartime needs contrasts with the challenge faced by market-based economies like Australia, which require years to shift supply chains to defense production.
Chinese Naval Power:
A sobering thought from The Wall Street Journal: One Chinese nuclear submarine and civilian shipyard launch more ships annually than the entire U.S. in the last 30 years, emphasizing the global economic and military landscape.
Conclusion:
Economic decisions play a pivotal role in determining military success.
Thank you for tuning in to Burgernomics! If you enjoyed this episode, don't forget to subscribe, leave a review, and stay tuned for more intriguing conversations.
...more
3min
November 28, 2023 52: Ukraines Battlefield Economics. Tactics When Your Enemy Has More.
Ukraines Battlefield Economics. Tactics When Your Enemy Has More.

Retired Major General Mick Ryan takes us for a journey through the battlefields of Ukraine, the tactics, planning and munitions supply status.

The economic theories of ‘supply & demand’ and the ‘allocation of scarce resources’ couldn’t be more applicable to the life and death struggle of war on a battlefield.

A battlefield comprises adversaries who attempt to kill each other to occupy land and become victorious. This requires munitions and men.

Victory is usually guaranteed to whomever has unlimited munitions and soldiers. But neither Russia or Ukraine have unlimited military resources.

Two main economic principles will determine the battlefield victor.

Firstly, who can best supply munitions to their troops to satisfy their demand, allowing them to achieve their battlefield objectives.

Secondly, how politicians and commanders distribute the limited munitions for maximum effect is crucial. Make tactical mistakes and those munitions are wasted

Maj. Gen. Ryan discusses the tragic global ramifications if the West was to prioritise munitions for Israel’s war in Gaza over the war in Ukraine.

He also outlines Australia’s current defence vulnerability in the face of our most critical strategic threats since World War 2.

Mick Ryan takes the Burgernomics Test detailing the effects on the simple hamburger of the Ukraine / Russian war.

Dive Deeper
Articles relating to the economics of the battlefield.

https://edition.cnn.com/2023/09/17/europe/ukraine-shell-supplies-intl/index.html

https://www.economist.com/special-report/2023/07/03/the-war-in-ukraine-shows-how-technology-is-changing-the-battlefield

https://www.mca-marines.org/wp-content/uploads/January-2021-2.pdf

...more
45min
August 29, 2023 51: A Fresh Angle. Beef Price Plunge. Supermarkets Profit. In 150 Seconds.
Follow the beef money trail in 150 seconds. Beef producers doing it tough, supermarkets making huge beef profits, while cost of living increases smash their customers. Using basic economic principles to provide an insightful cut through of Australia's beef situation guaranteed to make you the instant expert.
...more
4min
August 15, 2023 50: Beef Drops 46%. But Not In Supermarkets. Why?
Beef prices paid to the farmer have dropped 46% in 15 months.
However retail prices for beef have not dropped anywhere near 46%.
Why hasn’t the beef price drop been passed through to retail prices?
Angus Gidley-Baird Senior Proteins Analyst for Rabo Bank and Burgernomics Podcast host Ross MacDowell explore the economic forces effecting Australia’s beef supply chain.

...more
43min
August 02, 2023 49: L.E.O’s Smashing The NBN In 96 Seconds
Low Earth Orbit Satellites are providing Australians the broadband service the NBN hasn't.
This 96 second podcast makes you an instant expert on Low Earth Orbit Satellites. Great for dinner party conversations or to impress your boss.
For a detailed examination of LEO's with telecommunications expert Paul Budde, please listen to the preceding podcast, Low Earth Orbit Satellites. Providing services NBN & Telstra promised but never delivered.
...more
4min
July 18, 202348: Low Earth Orbit Satellites. Delivering What NBN Hasn't.
Podcast Discussion Points
What are LEO’s and why are they so revolutionary?
LEO benefits to the NBN.
Why hasn’t the NBN delivered the internet service originally promised?
LEO vs land based internet infrastructure?
Price and speed comparison.
Is launching a low earth orbit satellite less expensive than building land based infrastructure?
Could LEO’s deliver all of Australia’s total internet requirement?
Is 5g broadband an alternative to NBN fixed wire?
Is the Australian Government preparing to sell the NBN after writing down its value by $31bn?
The effects of low earth orbit satellites on a hamburger.
Dive Deeper
Paul Budde's broadband blog.
https://paulbudde.com/category/blog/nbn-ftth-broadband/

Starlink Availability
https://www.starlink.com/map

Vocus Starlink
https://www.vocus.com.au/enterprise/connectivity/satellite-services/vocus-satellite-starlink?utm_campaign=fy23-starlink-dg&utm_medium=cpc&utm_source=google&utm_content=satellite&gclid=EAIaIQobChMInubhvY-GgAMVyKGWCh2Crgz4EAAYASAAEgL1xPD_BwE&gclsrc=aw.ds

Asian Development Bank article on LEO's
https://www.adb.org/news/features/five-ways-low-earth-orbit-satellites-impact-asia-pacific
...more
46min
May 30, 202347: Family Treasures. Priceless Or Worthless?
Connor Slattery is an expert valuer and auctioneer for Abbeys Auctions, a company that specialises in clearing houses of their contents. Downsizing, deceased estates and decluttering, Connor has seen and valued it all!

Households spend thousands of dollars on furniture, collectables and household items, but what has happened to their value?

Connor Slattery and Burgernomics host, Ross MacDowell discuss;
How the law of supply & demand diminishes the value of your household items.
Why the value of antiques has plummeted 60% over the previous 8 years.
How the decreasing size of Australian households is reducing the price of your furniture.
Why charities no longer want your furniture.
How the cost of transporting furniture can be more than the value of the furniture.
Why floral patterned furniture is worthless.
How Net Zero will affect the price of household furniture.
Why the recycling trend doesn’t currently extend to household items.
How artificial intelligence will affect the furniture sales business.
The importance of factoring in ones personal time to value the sale of household items.
Dive Deeper

ABBEYS AUCTIONS
https://abbeysauctions.com.au/house-clearance/managing-a-property-clearance/

CHARITIES ACCEPTING HOUSEHOLD BELONGINGS & FURNITURE
West Welcome Wagon - Supporting Asylum Seekers
https://www.westwelcomewagon.org.au/

Eastern Emergency Relief Network
https://easternemergency.org.au/

Western Emergency Relief Network
https://wern.org/

https://www.rotarydistrict9800.org.au/stories/rotary-inner-melbourne-emergency-relief-network-needs-members
...more
42min
May 09, 2023 46: Monopolies. Where Would We Be Without Them? In 100 Seconds.
A 100 second cheat note guide to Australia's development relying on organisations that were monopolistic.
...more
3min

FAQs about Burgernomics:

How many episodes does Burgernomics have?

The podcast currently has 55 episodes available.