Real world economics

Critiques of orthodox economics have proliferated in recent times, but often these critiques are not translated into alternative principles for policy-making. The Centre for Policy Development’s ‘Real World Economics’ program provides a platform for our fellows and others to explore approaches which move beyond the ‘small government vs big government’ debate and provide the basis for consistent policy-making across portfolios.

Much of the thinking that informs government policy is based on outdated or oversimplified economic theory — recent applied research (for example in behavioural economics) is often not taken into account. We need to incorporate a broader, more balanced understanding of human nature into the economic principles that underpin policy development.

The Motley Fool | 27 February 2014

Lend Lease backs out of Abbot Point expansion Recently Lend Lease Group has announced its withdrawal from the Abbot Point port expansion with Aurizon. The project was widely debated due to potential environmental impacts caused by dredging and whether itmore

ABC News | 18 February 2014

Queensland has low average incomes by national standards A resource focused economy is not working. All boom, no benefit? by CPD’s Laura Eadie and Michael Hayman has revealed striking differences between the average wages in Queensland and Western Australia, states thatmore