Burgernomics

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.

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?

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. 

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

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.

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.

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.

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

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

A 100 second cheat note guide to Australia's development relying on organisations that were monopolistic.

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. Does productivity increase or decrease when working from home? Is hybrid working a temporary post COVID phenomenon? Will employees be forced back to offices when unemployment rises back to average levels and employees loose their current bargaining power? Have we seen the irreversible decline of central business districts? What are the advantages and disadvantages for both employees and employers of working from home? As social animals, do humans need the socialisation the workplace offers? What are the mental health issues resulting from hybrid working? Is the Great Resignation a myth as the statistics suggest? 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.

Dr Brendan Rynne, KPMG Chief Economist and Burgernomics host, Ross MacDowell discuss 'The Wealth Effect' when we increase our spending based on our homes rising value, which recently have skyrocketed. Interest rates have risen and our home's price has dropped. We should feel anxious and reduce our spending....but we haven't! Why not? Does this mean interest rates will continue to rise? Is an increase in unemployment a possibility? How long before interest rates stabilise, house prices stop dropping and the 'good times' return?

A non traditional view of the 2022 Australian Federal Government Budget.  Burgernomics host Ross MacDowell explains the different types of budgets, their accuracy in predicting government income & expenditure and their effect on our economy. 

Plumbers earning similar incomes to G.P's in 95 seconds. Burgernomics host Ross MacDowell discusses how the incomes of plumbers has converged toward highly educated doctors. A 95 second 'cheat note' great for dinner party conversation, impressing your boss or just because you need to understand why a visit from the plumber usually costs more than a visit to your G.P. After this 'cheat note', listen to the full episode when Prof Jeff Borland of The University Of Melbourne and Ross MacDowell come to some interesting conclusions.

Plumbers incomes have quickly converged toward that of general practitioners, yet it's a lot easier and less expensive to become a plumber than a doctor. How have  Australia's labour markets rapidly increased incomes of plumbers, who stop our tap dripping, compared to doctors, who prolong our life? Burgernomics host, Ross MacDowell discusses with The University Of Melbourne's Truby Williams Professor Of Economics, Jeff Borland how labour markets price various jobs.

How economics can save the world in 120 seconds with Burgernomics host Ross MacDowell. A 2 minute 'cheat note' great for dinner party conversation, impressing your boss...or anyone else! Economics is the solution to most of the worlds issues, net zero, poverty, famine, to name a few. Yet younger Australians are not studying economics enabling these problems to be solved quicker. After the 'cheat note' listen to our detailed podcast when Reserve Bank economists Tanya Livermore & Mike Major discuss their recent research detailing the plummeting number of secondary students studying economics with Burgernomics host Ross MacDowell.

The Reserve Bank Of Australia researched why interest in economics has fallen off a cliff. Interest in studying economics at secondary school has declined 70% in the last 30 years. The authors of the research, Reserve Bank Of Australia economists Tanya Livermore and Mike Major discuss with Ross MacDowell whats caused economics to decline in interest? Why economics is crucial to solving the biggest problems confronting humanity? How Mick Jagger of the Rolling Stones features in how to make economics more appealing. Dive Deeper Reserve Bank Of Australia easy to understand explainers....fantastic range of topics, written so everyone can understand economics. https://www.rba.gov.au/education/resources/explainers/ What Is Driving Participation and Diversity Trends in Economics? A Survey of High School Students. RBA Research By Tanya Livermore & Mike Major https://www.rba.gov.au/publications/rdp/2021/pdf/rdp2021-06.pdf Reserve Bank Of Australia. Meet The Economists https://www.rba.gov.au/education/explore-economics/people-in-economics/meet-the-economists.html

Electric Vehicles in 55 seconds with Burgernomics host Ross MacDowell. A 55 second 'cheat note' great for dinner party conversation, impressing your boss...or anyone else! There are a lot of myths, controversy and opinions surrounding electric vehicles. At this stage most can be disregarded because of one simple fact which is revealed in this cheat note. After the 'cheat note' listen to our detailed podcast when EV expert, Bryce Gaton debunks the economic myths of electric vehicles with Burgernomics host Ross MacDowell.

Australia has one of the worlds slowest up takes of electric vehicles. Independent electric vehicle expert, Bryce Gaton discusses with Burgernomics host Ross MacDowell the owner, manufacturer and government issues causing the slow electric vehicle adoption in Australia. Bryce targets E.V. myths, explains ownership costs, driving range issues and when we can expect everyone to be driving electric vehicles in Australia. Want to dig deeper? Bryce Gaton recommends; The Driven. Australia's Most Trusted Electric Vehicle site https://thedriven.io/ EV Choice. http://evchoice.com.au/index.html Aust Electric Vehicle Assoc https://www.aeva.asn.au/

Foot & Mouth Disease in 75 seconds. A 75 second 'cheat note' great for dinner party conversation, impressing your boss...or anyone else! Foot & Mouth Disease is widespread in Bali, on Australia's door step. Tourists can unwittingly bring FMD back into Australia. Why not close the border with Bali? What are the economic ramifications if Australia gets one case. Will our meat export market evaporate overnight? Will our livestock industry crash? Burgernomics host Ross MacDowell provides the answers in 75 seconds

Foot & Mouth Disease. Is it Australian agricultures $80 bn armageddon? Richard Norton, a beef producer and ex-CEO of Meat & Livestock Australia is one of Australia's best positioned experts to discuss the reality versus the hysteria. Many describe a situation where all $30 bn plus meat export markets are instantly lost with just one case of foot & mouth disease. Vivid descriptions of cattle being killed and a $80 bn economic hit to our rural communities are published daily in the media. Richard describes the preparations previously set up to minimise any foot & mouth disease incursion, our largest export markets desperate need for protein that may induce them not to instantly ban our export meat and the delicacy of our relationship with Indonesia, our largest total beef export market and also the home to the foot & mouth outbreak which currently threatens Australia.

Interest Rates. A 150 second 'cheat note' great for dinner party conversation, impressing your boss...or impressing your employees.  Interest rates are going up, up, up. Can they be predicted? Many say the bond markets are the clairvoyants of interest rates. How accurate are bond yields in predicting interest rates? For a detailed discussion on interest rates please listen to episode 24, Interest Rates. Where to from here? With NAB's Chief Economist, Alan Oster and Burgernomics host Ross MacDowell. Alan doesn't believe the bond markets have a good record of interest rate predictions. 

Alan Oster, National Australia Banks Chief Economist and Burgernomics host Ross MacDowell candidly discuss whether bond traders are interest rate clairvoyants. Bonds usually put most people to sleep. This discussion won't! Australian's pay hundreds of thousands of dollars in interest on their mortgages. What if there was a way to predict future interest rate rises? If the Reserve Bank sets Australian interest rates, is it possible for a mysterious group of bond traders to influence the RBA and therefore Australia's economy? Concrete examples are given as to the accuracy of bond yields and interest rates, including mortgage rates.

Carbon Net Zero. A 55 second 'cheat note' guide by Burgernomics host Ross MacDowell. What is net zero? What happens if enterprises can't meet net zero? What are carbon credits? Great for business meetings, dinner parties or whenever you need just a little bit of knowledge to get you through. Want to know more? Please listen to the full podcast, Carbon Net Zero with Tony Wood, Energy Program Director at the Grattan Institute and Burgernomics host Ross MacDowell.

Tony Wood, Energy Program Director at the Grattan Institute demystifies Net Zero Carbon with Burgernomics host Ross MacDowell. Straightforward explanations, highlighting the problems and defining responsibilities. This is a fascinating conversation. Climate experts believe 6 bn tonnes of carbon dioxide needs to be removed from the atmosphere by 2050 if climate change is to be avoided. To date 0.00016% or 10,000 tonnes have been removed. Net Zero Carbon will create massive shifts within the Australian economy, both pluses and minuses. Over the next 30 years, $86 billion dollars of coal and liquified natural gas export sales will disappear. Net Zero will reduce massive insurance payouts caused by bad weather events related to global warming. Net Zero will cause billions of dollars to be invested in new technology transferring Australian industry to net zero carbon emission by 2050. Will the change to net zero cause consumer prices to rise to cover the cost of the transition? Will huge gov't subsidies be required to shift industries into net zero putting pressure on our tax base? What are the role of carbon credits?

Petrol Prices. Are you being taken for a ride? A 25 second 'cheat note' guide by Ross MacDowell. Do petrol companies collude setting petrol prices? How do they orchestrate price rises without government prosecution? What would be the price of petrol if there was no collusion? Great for business meetings, dinner parties or whenever you need just a little bit of knowledge to get you through. Want to know  more? Please listen to the full podcast, Petrol Prices. Are you being taken for a ride? With Australia's leading petrol price expert, David Byrne Professor Of Economics at Melbourne University

David Byrne Professor of Economics at Melbourne University is Australia's leading expert in retail petrol pricing. With Burgernomics host, Ross MacDowell they discuss collusion, cartels and the associated costs to the Australian motorist. Professor Byrne has conducted empirical studies proving exactly what most people believe, there is something ‘funny' going on with the price of the petrol we buy at the bowser. Australia's petrol market, a freely competitive market place benefiting the consumer? Probably not. Dive Deeper What Professor Byrne recommends. Petrol Pricing Apps That Will Save You Money Motor Mouth. https://motormouth.com.au/ Gas Buddy. https://www.gasbuddy.com/app Fuel Map. http://fuelmap.com.au/ Fuel Watch WA. https://www.fuelwatch.wa.gov.au/ Start Up Search Costs by Prof David Byrne and Prof Nicolas de Roos American Economic Journal: Microeconomics, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3100395 Individuals pay the same cost to obtain price information each time they search. This paper provides evidence on a new form of search costs: startup costs. Exploiting a natural experiment in retail gasoline, we document how a temporary, large exogenous shock to consumers' search incentives leads to a substantial, permanent increase in price search. A standard search model fails to explain such history-dependence in search, while it follows directly from a model with a one-time up-front cost to start searching. Learning To Co Ordinate: A Study In Retail Gasoline. By Prof. David Byrne and Prof Nicholas De Roos https://findanexpert.unimelb.edu.au/scholarlywork/953653-learning-to-coordinate--a-study-in-retail-gasoline ACCC Vs Informed Sources https://www.australiancompetitionlaw.org/cases/current/2014-vid450-informed.html

Inflation. Is it here to stay? A 60 second 'cheat note' guide by Ross MacDowell, on inflation that is reappearing worldwide. Is it temporary or permanent? Why has it happened? What can you expect in terms of interest rate rises? What will happen to your mortgage repayments and income? Great for business meetings, dinners parties or whenever you need just a little bit of knowledge to get you through. Want to know more? Please listen to the Burgernomics podcast, Your Monthly Budget. Will inflation make it explode? With EY's Chief Economist Oceania, Cherelle Murphy.

Cherelle Murphy Chief Economist Oceania EY and Burgernomics host Ross MacDowell discuss Your Monthly Budget. Is Inflation About To Make It Explode? Every economists nightmare is the 1930's black & white photo of German women stuffing her stove with banknotes to boil the kettle. Inflation had made her banknotes worthless. Now, after decades of almost no inflation, inflation is back and lots of Australians are wondering how inflation will affect them. Cherelle & Ross discuss how inflation is measured local & international issues contributing to inflation the Reserve Bank & Federal governments toolkits to control inflation the dramatic effect on the average Australian home mortgage forecasts of where interest rates are headed wage growth and the wage/price spiral the possibility of stagflation Cherelle takes the Burgernomics test, applying the effects of inflation to our simple hamburger, not just from an economists viewpoint but also as a mother with two young hamburger eating children to cater for. Want To Dive Deeper? Cherelle Murphy recommends, For a great explanation of inflation: Inflation and its Measurement | Explainer | Education | RBA Measuring inflation methodology:  Consumer Price Index, Australia methodology, December 2021 | Australian Bureau of Statistics (abs.gov.au) CPI data from the ABS can be found here: Consumer Price Index, Australia, December 2021 | Australian Bureau of Statistics (abs.gov.au) Read our EY's 2022 full Budget analysis here, and Cherelle's Budget in 90 seconds.  Connect with Cherelle Murphy on LinkedIn for regular updates on the economy. Cherelle is passionate about encouraging women into economics, Women in Economics Network: WEN National Committee (esawen.org.au)

A 75 second 'cheat note' guide by Ross MacDowell, on how economic warfare (sanctions) rather than military warfare is being used to defeat Russia's invasion of the Ukraine. What are the consequences for the rest of the world? Great for business meetings, dinners parties or whenever you need just a little bit of knowledge to get you through. Want to know more? Please listen to the Burgernomics podcast, Russian Sanctions. Weaponised Economics with Steven Hamilton,  Assoc Professor Of Economics from the George Washington University.

Steven Hamilton Assistant Professor of Economics at The George Washington University in Washington DC and a Visiting Fellow at the Australian National University discusses how the world is reeling from the the largest conventional military attack in Europe since World War 2. Russia has invaded the Ukraine. Just about every country in the world is outraged about this invasion...with China sitting on the fence. But unlike other wars, all the countries opposing the war have decided not to fight head to head with the Russian aggressor. Is this because they fear Vladimir Putin has forgotten the theory of Mutually Assured Destruction, meaning Putins threats of nuclear missiles against the West would start a nuclear war, where everyone ends up dead. Led by the United States and Europe, economic sanctions are now the weapons of choice against Russia rather than missiles, warships and fighter jets. The west believes it can economically sanction Russia into surrender. But just like bombs and missiles, sanctions too create collateral damage. Steven Hamilton Assistant Professor of Economics at The George Washington University in Washington DC and a Visiting Fellow at the Australian National University. Steven has authored policy proposals for the Brookings Institution and provided economic commentary for the New York Times, the LA Times and Time Magazine. Want To Dig Deeper? Steven recommends reading, https://theconversation.com/just-short-of-nuclear-these-sanctions-will-cripple-russias-economy-178000 https://theconversation.com/russian-sanctions-are-biting-harder-than-imagined-and-itll-get-worse-178322 Some pieces by economist Noah Smith: https://noahpinion.substack.com/p/the-big-sanctions-a-quick-explainer?s=r https://noahpinion.substack.com/p/how-are-the-big-sanctions-hurting?s=r Some pieces by economic historian Adam Tooze: https://adamtooze.substack.com/p/chartbook-89-russias-financial-meltdown?s=r https://adamtooze.substack.com/p/chartbook-97-is-boycotting-russian?s=r

Your 60 second 'cheat note' on life after COVID by Ross MacDowell. Great for business meetings, dinners parties or whenever you need just a little bit of knowledge to get you through. Want to know more? Please listen to the Burgernomics podcast on What Post COVID Australia Looks Like with leading social commentator, demographer and columnist,  Bernard Salt AM. Out now on the Burgernomics Podcast. Please subscribe and review the Burgernomics podcast

Bernard Salt AM, Australia's leading social commentator draws upon demographic, economic and social statistics to help us understand where Australian society is headed. Bernard is a columnist for The Australian newspaper, author of 6 best selling books on generational change and famous for describing millennials difficulty in saving for house deposits through his Smashed Avocado Effect. Bernard with Burgernomics host, Ross MacDowell describes in detail how post COVID Australia has changed permanently for employees, business owners and families. Some of the topics covered are, The Australian experience of recovering from adversity. World wars, bushfires every summer and economic downturns, Australians always bounce back. How COVID has changed the way we work and the role of the Central Business District. Working from home is here to stay. Frictionless commerce, the ‘appification' of Australia… out with call centres in with apps. Why we should have faith in the future of Australia. As a country we are young, open, resourceful, free and a preferred destination for many. What new skills are required after recovering from COVID. The $230bn sitting in home bank accounts just waiting to be spent. Will this cause inflation, interest rate rises and then we stop spending because our mortgages cost too much? At home, out with the pool room, in with the Zoom room, which now becomes the show piece room in our homes. Bernard Salt eloquently describes The Burgernomics Effect in terms of our COVID developed need for automation, frictionless commerce and businesses desire to save on labor costs. Want To Dig Deeper? Bernard recommends reading “Vandemonians:  The repressed history of colonial Victoria” by Janet McCallman,  The Miegunyah Press 2021 @ratemyskyperoom A sarcastic Twitter feed critiquing peoples video conferencing backdrops. For purveyors of art directed rooms. https://www.housebeautiful.com/lifestyle/fun-at-home/a32883540/room-rater-rate-skype-room-zoom-backdrop/ Bernard Salt AM. The Demographics Group www.tdgp.com.au  Andrea Clarke Future Fit. www.futurefitco.com.au www.ologycreative.com.au just to look at their amazing logo animation. Please rate, review and subscribe to the Burgernomics Podcast so not to miss an episode and follow us on Instagram, Twitter and LinkedIn.

A 50 second 'cheat note' guide by Ross MacDowell, why Australia steak and beef is the most expensive beef prices in the world. Great for business meetings, dinners parties or whenever you need just a little bit of knowledge to get you through. Want to know more? Please listen to the Burgernomics podcast, Why Australian Steaks Are The Most Expensive In The World. Out Now. Please subscribe and review the Burgernomics podcast.

Nutrien Agriculture Managing Director, Rob Clayton discusses with Burgernomics host Ross MacDowell If Australia is the ‘land of plenty', why do we pay more for our steaks than every other major country? Is it droughts, corporate farm buy outs, supermarket profiteering, the Aussie dollar or is Australia feeding the rest of the world before our own domestic market? Rob Clayton runs one of Australia's largest agriculture businesses. Rob joins Ross MacDowell to cut through the myths and theories behind Australia's high beef prices to describe the battle between the forces of supply and demand. Can Rob answer the all important question... will your steak become more affordable in the future? Rob simplifies agricultural economics by taking the Burgernomics Test applying his knowledge to all the ingredients making up the cost of a hamburger.

A 'cheat note' guide to Crypto Currency by Ross MacDowell in 79 seconds. Great for business meetings, dinners parties or whenever you need just a little bit of knowledge to get you through.

Part 3. Distinguished Professor Jason Potts Co Director of RMIT's Blockchain Innovation Hub and Burgernomics host Ross MacDowell explain the difference between a stable coins and crypto currency. Why every Australian will be using crypto currencies alongside our current government currency sooner than they think - or potentially already are without even realising it! Crypto causes transaction fees to plummet and payment transfer times to become instantaneous with total privacy. These advantages deprive banks, large institutions and governments of revenue, so there are many vested interests at work currently discrediting crypto currencies.  Finally, Prof. Potts explains blockchain and crypto using our famous hamburger analogy.

In Part 2 Distinguished Professor Jason Potts Co Director of RMIT's Blockchain Innovation Hub and Burgernomics host Ross MacDowell talk about mining cryptocurrency and how the mining process creates security for the currency giving it value through scarcity. As Bitcoins are finite, when will the last Bitcoin be mined? Will cryptocurrencies eventually replace government 'fiat' currency or do we need both to have positive effects on economies, currency exchange rates and government policies that affect our daily lives.

A 'cheat note' guide to Blockchain in 58 seconds by Ross MacDowell Great for business meetings, dinner parties or whenever you need just a little bit of knowledge to get you through.

In this 3 part series, Distinguished Professor Jason Potts, Co Director of RMITs Innovation Hub Australia's is  Australia's leading expert on blockchain and crypto currency. Together with Ross MacDowell thy demystify blockchain and cryptocurrencies. In Part 1 we discuss our natural human hesitancy and negativity towards new 'tech' concepts we don't understand, comparing our eventual acceptance of blockchain/crypto to when the internet was introduced. In simple language we explore what is blockchain, why we need it, will it inevitably be a part of everyone's lives? Not to mention... what on earth is a Non Fungible Token! 

A 'cheat note' guide by Ross MacDowell why Australia is undergoing a house price boom. Great for business meetings, dinner parties or whenever you need just a little bit of knowledge to get you through. Listen to the full podcast to become an expert!

Part 2. Brendan Coates, Economic Policy Program Director of the Grattan Institutes and  Burgernomics host Ross MacDowell discuss the history of Australian housing booms and  their subsequent busts. After a bust what is negative home equity, how do the banks react to mortgagees with negative equity - do they make you sell up? What is the current risk of a housing crash? The future of mortgages.