We need to account for the benefit we get from nature.
When we don't factor in the environment in our economic decision making, we aren't getting an acurate picture of what's happening. Australia needs to adopt more environmental economics.
By focusing on forecasting issues, economists remain disengaged with real-world problems.
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Hero of the Poor/Flickr
The World Economic Forum draws a straight line from social injustice to many of the risks facing the world in 2017.
Finding a way forward.
Searching for a sensitive route to the practical aftermath of tragedy.
Image sourced from Shutterstock.com
A handful of our business economics writers share the favourite books they read this year.
Generations have differences but it’s the inequality within a generation that deserves more debate.
The debate about different generations' economic status misses the inequality within generations, especially younger Australians.
MYEFO leaves Treasurer Scott Morrison with the difficult task of managing Australia through a period of both sluggish GDP growth and a persistent budget deficit.
Next year GDP will grow at the second-slowest rate in 16 years, according to MYEFO. This has big implications for unemployment and the deficit.
Treasurer Scott Morrison is also a fan of charts.
Economist Ross Guest unpacks some of the key numbers in the government's mid year budget update, with seven charts.
MYEFO is more positive about the 2016-17 budget bottom line than previous expectations. However, projections over the forward estimates have worsened.
While MYEFO discussion focuses on the budget deficit, experts say it also serves as a stark reminder of the need for bigger policy ideas in Canberra.
The world economy is inextricably linked with the US.
A lot has changed in the global economy since the Federal Budget 2016.
Renowned economist Thomas Schelling celebrates winning the 2005 Nobel Prize in Economics.
Nobel Prize winner Thomas Schelling will be recognised for his little-known comments that sparked behavioural economics.
Voters rejected Matteo Renzi’s referendum on constitutional reform, plunging Italy into political uncertainty.
The "no" result from Italy's referendum is likely to brew political and economic uncertainty for some time yet.
Economics lecturers need to teach their students about more than just numbers.
In both the global North and South, economics tends to be taught with micro- and macroeconomic models that are disconnected from sociopolitical realities. We suggest new ways of teaching economics.
Problems occur when a country falls in love with gold, and silver might be about to get a boost from proposed solutions.
The government has changed the rules so that another foreign investor can replace one who has pulled out of buying an off-the-plan dwelling.
The government says its changes to foreign investment will increase housing supply and make it more affordable, but that's relying on narrow and possibly incorrect assumptions about investors.
The problem with the current rezoning approach is that it leads to huge windfall profits and developments aimed at the upper end of the market.
The community needs affordable housing and that requires meaningful targets for new developments. The only ones who will lose out are landholders who make windfall profits from rezoning.
Recently I got told this joke. Two economists are having lunch. One of them has to make a decision about changing jobs, moving cities, disrupting his family and so on. What should he do, he asks the other…
Unequal access to housing has considerable long-term effects far beyond just property ownership.
New research finds higher property prices are associated with higher household income and spending inequality.
We have got stuck in a rut. Every month we explain away changes in retail spending with a lazy look to the skies.
Australian businesses should learn from the example of Brexit and wait to act.
Australian businesses should wait and rethink long term strategies in response to Trump's election in the US.