Burgernomics

Professor Allan Fels, inaugural Chairman of the Australian Competition & Consumer Commission discusses with Burgernomics host Ross MacDowell the realities of policing restrictive business practices that harm Australian consumers.

If the law of supply and demand is operating efficiently, how can monopolies exist?

Prof. Fels’ defines a monopoly and discusses how some of Australia’s leading organisation maybe monopolies.

Has the deregulation of Australia’s telecommunication industry worked for the consumer? 

Did the government create another telecommunications monopoly with the NBN?

Australia’s 4 pillar banking system. Is it an oligopoly? 
How was it allowed to operate with the practices that led to a Royal Commission?

What benefits does this banking system offer Australians?

How recent US private bank collapses empower Australian banks to maintain their oligopoly unchallenged.

Areas where policing restrictive trade practices legislation has been weak and how it could be improved to better protect Australians.

Some colourful stories of blatant corporate misdeeds.

The increasing number of criminal prosecutions sending corporate executives to prison.

How the hamburger industry seems safe from anti competitive behaviour.

Dive Deeper
Adam Smith. A Wealth Of Nations
https://www.amazon.com.au/Wealth-Nations-Adam-Smith-ebook/dp/B08NPXBLYQ/ref=sr_1_1?crid=1FE3YQUVDK1PM&keywords=Adam+Smith+A+Wealth+Of+Nations&qid=1682218897&s=digital-text&sprefix=adam+smith+a+wealth+of+nations%2Cdigital-text%2C281&sr=1-1

Allan Fels. A Portrait Of Power. Fred Benchley
https://www.amazon.com.au/Allan-Fels-Portrait-Fred-Brenchley/dp/1740310705/ref=sr_1_1?crid=1L4B9GRCH4QXQ&keywords=Allan+Fels.+A+Portrait+Of+Power.&qid=1682218847&s=digital-text&sprefix=allan+fels.+a+portrait+of+power+%2Cdigital-text%2C266&sr=1-1

Tough Customer: Chasing a better deal for battlers. Allan Fels
https://www.amazon.com.au/Tough-Customer-Chasing-better-battlers-ebook/dp/B07XP68Z9V

House prices are a function of the law of supply & demand. Why did the RBA create the demand for which it is named the villain? But that's only half the supply & demand equation. Who takes the responsibility for house supply? A 146 second cheat sheet that will make you sound the economic expert on Australia's housing affordability.

Peter Maddison, host of the award winning television series Grand Designs discusses Australian housing affordability.
Attitudes will need to change regarding the style & size of Australian housing. This will effect how Australians perceive housing affordability.
The new future direction of Australian home design.
Effects on housing supply of the local government planning process.
Costs of societal and government sustainability expectations.
Inflationary impact on home building budgets

Dive Deeper

Grand Designs Australia
https://www.foxtel.com.au/watch/grand-designs-australia.html

Peter Maddison
https://www.google.com/search?q=Peter+Maddison&si=AMnBZoG3cRyxvViEiVWeqgrn-CuWcnxp6_6_G7EH225wAKYHQtUpkP6_1YM8RtRdXNdQ_OWLyGDGCr5ifUSoxGIa3LJn8FjoXo_BKBIYmP2Jio0Im1jSl-CrZRM6Hsj_T-sHotWg9xe9qxH901XmL5JOuvkI4FIR8V_-RXsF9LALCwyPD_pkuN68ormamT9XQQ_rzVrosEj3Hoq3FkTqKR2GmNrnbMrTWg%3D%3D&sa=X&sqi=2&ved=2ahUKEwj31a3Kpo_-AhUYSGwGHYKhAw4QmxMoAHoECEgQAg&biw=1295&bih=783&dpr=2

Maddison Architects
https://www.maddisonarchitects.com.au/profile

Where Should We Build New Housing? Better Targets For Local Councils. Dr Peter Tulip
https://www.cis.org.au/publication/where-should-we-build-new-housing-better-targets-for-local-councils/

Australia’s renewable energy debate is a dizzying, multi faceted topic.
Highly emotive arguments are forcefully voiced, each declaring theirs is the only rationale argument. Any disagreement can label you a climate denier or woke or  capitalist. 
This 185 second cheat note provides a quick overview of the main issues in transitioning Australia to renewable energy. Adam Smith's concept of the ‘invisible hand’ is used to explain how the resources will be allocated for Australia's transition to renewable energy and who pays the cost.

Simon Vardy, a Partner at Deloitte specialising in energy transition within the utilities industry, discusses the ramifications of Australia moving from fossil fuel generated power to renewable energy with Burgernomics host Ross MacDowell.

Australian households are experiencing high gas and electricity bills due to increased overseas demand including sanctions on Russia for invading Ukraine.

Coal-fired power stations are closing because they can't compete with cheaper renewable energy. Households are waiting for cheaper renewable energy, but it's not that simple. Will power bills reduce with renewable energy?

There is not enough renewable energy to replace the declining supply of coal-fired electricity, resulting in a 20-35% increase in electricity costs this year. Blackouts are a risk due to the number of planned coal-fired power station closures.

Australia currently produces 32% of its energy through renewable sources and 68% through fossil fuels. The government aims to have 82% of Australia's energy needs come from renewables by 2030. This timeline may not be realistic due to the declining number of Australian power plants producing less electricity and keeping prices high.

Renewable energy is not harvested at the same locations as fossil fuel power stations, requiring 10,000 km of new high-voltage transmission lines. Some experts estimate it will cost $66 billion to electrify all 5.1 million Australian households, but the federal government has only mentioned a $20 billion corporation to upgrade Australia's energy transmission system, including new transmission lines.

Renewable energy infrastructure costs involved in meeting the government's renewable power objectives will keep household power bills high for decades.

However, Australia has is one of the richest supplies of renewable energy in the world. When we develop the renewable energy infrastructure, Australia will have a massive economic opportunity to supply the rest of the world with energy and carbon zero produced goods.

The biggest stumbling block is the unlikelihood that Australia's target dates for becoming reliant on renewable energy can be met under current scenarios. Overseas infrastructure suppliers may not be able to provide the cabling, wind turbines, solar collectors, etc to supply Australia, as their order books are already full, and their own governments have placed export restrictions on them to meet their own targets.

Burgernomics host, Ross MacDowell summarises how the airlines Dynamic Ticket Pricing Model is now being adopted by the live entertainment industry. The system adjusts ticket prices based on supply and demand, but while musicians like Bruce Springsteen and Taylor Swift are jumping on board, music promoters are hesitant due to a potential customer backlash. This 80 second summary is great for dinner party conversation, impressing your boss or just because you need to understand why we pay what we pay for concert prices.

Michael Newton, founder of A Day On The Green, provides an exclusive  backstage pass to the economics of staging 500 live outdoor shows with 4 million ticket sales.  Elton John, Rod Stewart, Rick Astley, Fleetwood Mac, Bryan Ferry and every headlining Australian music act you can think of have performed at A Day On The Green venues around Australia and New Zealand.

The risk, complexity and uncertainty of staging outdoor shows in Australia’s $17 billion live performance industry isn’t for the faint hearted. Michael Newton with Burgernomics host, Ross MacDowell discuss the art of ticket pricing, the difficulty of predicting audience demand, how the profit break even point is calculated on audience seats, what proportion of each shows total cost is the artists fee, the foreign exchange risk that can mean the difference between profit & loss and calculating the flow on effects to the local economy where the show is staged.

It’s a fascinating discussion ending up with Rick Astley in Andrew’s Hamburgers store in Albert Park Melbourne to explain The Burgernomics Test.

Working From Home In 156 Seconds.
Burgernomics host Ross MacDowell explains how both employees and companies have changed their attitudes toward employees working from home. A 156 second 'cheat note' great for dinner party conversation, impressing your boss or just because you need to understand where hybrid working maybe headed. After the 'cheat note' listen to Australia’s leading hybrid working expert, Professor Mark Wooden of The Melbourne Institute Of Applied Economic And Social Research discuss Hybrid Working. The Good, The Bad And The Unknown on the Burgernomics Podcast.

Professor Mark Wooden from the Melbourne Institute of Applied Economic and Social Research and Burgernomics host, Ross MacDowell discuss working from home, hybrid working and the Great Resignation.

Want To Dig Deeper?
2022 HILDA Statistical Report. How Australian households changed as we managed the emerging pandemic.
https://melbourneinstitute.unimelb.edu.au/hilda/publications/hilda-statistical-reports

Read Professor Mark Wooden’s article in The Conversation on why home working boosts women's job satisfaction more than men.
https://theconversation.com/hilda-finds-working-from-home-boosts-womens-job-satisfaction-more-than-mens-and-that-has-a-downside-195641

Falling House Prices. Should I feel less wealthy in 98 seconds.  Burgernomics host Ross MacDowell explains the Wealth Effect and it’s relationship to house prices. How falling house prices are being caused by interest rate rises which then effect  our emotions and spending. Where are mortgage rates heading? A 98 second 'cheat note' great for dinner party conversation, impressing your boss or just because you need to understand where your standard of living is headed. After the 'cheat note', listen to the full episode when KPMG Chief Economist Dr Brendan Rynne discusses the Wealth Effect and housing prices in detail.