Articles on Economic theories

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If we want economics to appeal to young Australians, it needs to move away from theory and towards tackling some of the trickiest issues faced by the next generation. www.shutterstock.com

Economics needs to get real if we want more young Australians to study it

For economics to play a more helpful, critical role, it must abandon blind faith in the free market and embrace the social, historical, and environmental context in which economics actually happens.
The authors of the book The Making of Finance highlight the intellectual capture of the financial worlds. Bart Sadowski/Shutterstock

Mobilising the social sciences to rethink finance

Nothing has changed since the 2008 financial crisis. Orthodox theory continues to structure the entire financial industry, yet there is an urgent need to study the social and political nature of markets.
Aggregate demand is being hit by the concentration of income growth among the top earners and is now a drag on economic growth. Shutterstock

How rising inequality is stalling economies by crippling demand

News that Australian CEO pay has soared to a 17-year high at a time when ordinary workers' wages are flatlining is ultimately bad news for economic growth and prosperity.
The treasurer referred to the A$13 billion “zombie” measures the Senate has failed to pass as a “Senate tax”, in justifying the tax increases in this budget. Lukas Coch

Budget 2017: bank populism will be paid for by Australians

The budget was extraordinary in many ways. It is an abandonment of restraint on taxes by a liberal government. It is nakedly populist and it also acknowledges that government debt can be productive.
It is an attractive proposition to say we would gain significant efficiencies if there were a limited number of major providers of government-funded human services. shutterstock

There are more useful questions to ask than whether Australia has ‘too many’ charities

If we continue to base our views of the charity sector on incorrect assumptions and perceptions we run the risk of doing considerable damage to a national asset.
A male bonobo who likely holds some irrational biases when it comes to economic decision-making. Christopher Krupenye

Apes make irrational economic decisions – that includes you

Just the other day I found myself in the waiting room of an automotive dealership. While my car was being serviced, I flipped through a product brochure. One ad for an oil change boasted that it would…

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