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1 ABS Catalogue No. 5368.0, China excluding Hong Kong.
2 Equity withdrawal is defined as the total change in household debt, less household-sector capital expenditures including dwelling construction and maintenance expenditures, less depreciation allowances. See chapter 3.
3 The discretionary household-savings ratio is the overall household savings ratio less the compulsory net superannuation saving ratio. See chapter 3
4 National Economics: Carbon crisis: systemic risk of carbon emission liabilities, Beyond Zero Emissions, December 2014.
Chapter 7: Neo-liberalism comes full circle
1 Pew Research Centre, Behind Trump’s Victory: divisions by race, gender, education, 9 November 2016.
2 FEED Economic data, Trading Economics website consulted late 2016 and early 2017: www.tradingeconomics.com/rss
3 Op. cit.
4 J Mayer, Dark Money, Melbourne, Scribe 2016.
5 B Bull and S Machin, ‘Brexit and Wage Inequality’, 16 August 2016, voxen.org/article/Brexit-and-wage-inequality.
6 J.R. Nunns, et. al., ‘An Analysis of Donald Trump’s Revised Tax Plan’, Tax Policy.
7 Committee for a Responsible Federal Budget, 26 April 2017.
8 Cingano F. (2014), ‘Trends in Income Inequality and its Impact on Economic Growth’, OECD Social, Employment and Migration working papers, No. 163, OECD Publishing Lttp://dx.doc.org/10.1787/5jxrjncwxv6j-en. See also M Brückner and D Lederman, ‘Effects of income inequality on economic growth’ www.voxeu.org 07 July 2015; Brueckner, M and D Lederman (2015), ‘Effects of Income Inequality on Aggregate Output’, World Bank policy discussion paper 7317; Brueckner, M, E Norris and M Gradstein (2015), ‘National Income and Its Distribution’, Journal of Economic Growth 20: 149–175; and J D Ostry, A Berg, and C G Tsangarides, ‘Redistribution, Inequality and Growth’, International Monetary Fund research department, February 2014.
Chapter 8: Economic policy after neo-liberalism
1 For a detailed account of the rise of global inequality, see B Milanovic, Global Inequality: a new approach for the age of globalization, Cambridge, Harvard University Press, 2016; see also T Piketty, Capital in the Twenty-First Century, Cambridge, Harvard University Press, 2014.
2 Standard and Poor report, Australian Financial Review, 22 November 2016.
3 See I W Mclean, Why Australia Prospered: the shifting sources of economic growth, Princeton, Princeton University Press, 2012.
4 There is a flourishing international literature on financial-sector reform. Helpful works include R J Shiller The New Financial Order, Melbourne, Scribe, 2003; R J Shiller, Finance and the Good Society, Princeton, Princeton University Press, 2012, and J Kay, Other People’s Money, New York, Public Affairs, 2015.
5 J S L McCombie and A P Thirlwell, Economic Growth and the Balance-of-payments Constraint, New York, St Martins, 1994.
6 National Economics, Creating Jobs, Cutting Pollution; the roadmap for a cleaner stronger economy. Melbourne, Australian Conservation Foundation and Australian Council of Trade Unions, 2010.