Economics Explored

What is Anarcho-capitalism? And what would a libertarian analysis of the COVID-19 pandemic tell us? Economics Explored host Gene Tunny has a thought-provoking conversation with Loyola University's Professor Walter Block, whose Wikipedia entry describes him as "an American Austrian School economist and anarcho-capitalist theorist . "  Regarding anarcho-capitalism check out Walter's books: The Priva...

A conversation on the importance of the Treasury department to government and economic management. Economics Explored host Gene Tunny speaks with Paul Tilley about his 2019 book Changing Fortunes: A History of the Australian Treasury . Paul Tilley was an economic adviser to governments for 32 years, working at senior levels in all parts of Treasury, as well as other key agencies such as the Depart...

QUT's Dr Stephen Whyte speaks with Economics Explored host Gene Tunny about insights from behavioural economics and science regarding COVID responses.  Stephen is a Postdoctoral Research Fellow in Behavioural Economics in the School of Economics & Finance, QUT. His research focus explores large scale decision making in mate choice settings. His work takes a multi-disciplinary approach in studying...

Economics Explored host Gene Tunny discusses the US Fed's new approach to inflation targeting with Michael Knox, the Chief Economist of leading Australian wealth management firm Morgans.  The approach implies the Fed will allow the economy to run hot for a while during the recovery from the pandemic recession. The conversation revolves around Michael's recent note: The Fed - Allowing the economy t...

Economics Explored host Gene Tunny is joined by Darren Brady Nelson of LibertyWorks and the Heartland Institute to discuss the economics of industry assistance or so-called corporate welfare. Gene and Darren also consider the concept of crony capitalism.  This episode’s topic was prompted by an interview request host Gene Tunny had from an Australian ABC journalist regarding the Australian Governm...

A conversation on fiscal stimulus and the government spending multiplier with Professor Fabrizio Carmignani , Dean (Academic) of Griffith Business School. Fabrizio and Economics Explored host Gene Tunny discuss:  how the size of the multiplier (and the degree of crowding out) varies with the state of the economy; how vouchers might be a more effective stimulus than cash handouts; how governments r...

To what extent does Foreign Direct Investment create spillovers that boost the productivity of domestic businesses? Economics Explored host Gene Tunny speaks with the authors of a recent study addressing this question: Sara McGaughey, soon to take up a position as Professor at Copenhagen Business School, and Professor Pascalis Raimondos, Head of the School of Economics and Finance at QUT Business...

How the retail sector has been transformed over the last two decades and how emerging retailers can thrive with high-touch service, customisation, and an optimised global value chain. Economics Explored host Gene Tunny speaks with Bruno Cortigiani, owner of up-and-coming made-to-measure menswear retailer Merlai . Check out Merlai on Instagram: @merlaiofficial Relevant links include: Photo of Bruno...

The concept of a Circular Economy is increasingly being mentioned in economic and environmental policy discussions. Economics Explored host Gene Tunny chats with Craig Lawrence of Lytton Advisory about what a Circular Economy would look like, and whether it is compatible with rational economic thinking. The takeaway is that there is some merit in the Circular Economy concept, but we need to apply...

Dr Begoña Dominguez speaks with Economics Explored host Gene Tunny about her recent video on Financing the COVID-19 Government Debt . Begoña Dominguez is currently Associate Professor at the School of Economics, University of Queensland. Her research interests are in the area of macroeconomics and, more specifically, in the design of optimal fiscal and monetary policies. Her research has been publ...

A conversation on whether COVID can be compared to wartime, which considers the different scales and scopes of the shocks, and what it all means for prospects for economic recovery. Economics Explored host Gene Tunny, an Australian professional economist and former Treasury official, speaks with businessman Tim Hughes, also based in Brisbane, Australia. Gene and Tim conclude that a comparison of C...

It’s been a challenging year 2020, but one positive development is that regulators in the US and Australia have started challenging the Big Tech companies Google and Facebook over alleged misuses of market power. Economics Explored host Gene Tunny provides an update and discusses the important economic concepts and policy issues. Links relevant to the conversation include: Joseph Stiglitz on Regul...

Economics Explored host Gene Tunny chats about money and cryptocurrency, specifically Bitcoin, with Brisbane-based businessman Tim Hughes. They consider whether Bitcoin can replace traditional money in this new age of political unrest and this new paradigm of Modern Monetary Theory.  Relevant links include: Naval Ravikant on Happiness, Reducing Anxiety, Crypto Stablecoins, and Crypto Strategy John...

A conversation regarding the emerging field of Behavioural Finance and its lessons for households, investors, and governments. Economics Explored host Gene Tunny speaks with Dr Tracey West, a Lecturer in the Griffith Business School.  Links relevant to the conversation include: Tracey's Griffith University Experts page Tracey's LinkedIn profile Tracey's academic publications via Google Scholar Sto...

Economics Explored host Gene Tunny speaks with Adam Smith Institute Director Dr Eamonn Butler about the values and lessons of Adam Smith (the great Scottish philosopher and founder of economics), the depiction of Margaret Thatcher in Netflix's season 4 of The Crown, and price controls.  Here's a link to the book on price controls Dr Butler co-authored: Forty Centuries of Wage and Price Controls: H...

The COVID-19 pandemic has prompted the World Economic Forum to call for a Great Reset of the global economy. What is the Great Reset and should we be concerned? In this episode, Economics Explored host Gene Tunny discusses the Great Reset with Darren Brady Nelson, Chief Economist of LibertyWorks and a research fellow at the Heartland Institute. Links related to the conversation include: COVID-19:...

Multi-billion-dollar Megaprojects like Boston’s Big Dig and Brisbane’s Cross River Rail are more at risk of cost blowouts and failing to generate the benefits they expect than smaller infrastructure projects. Marion Terrill , Transport & Cities Program Director at the Grattan Institute, explains why in a conversation with Economics Explored host Gene Tunny. Marion has recently co-authored a Gratta...

The Fourth Industrial Revolution, involving the convergence of the internet, AI, and blockchain, will radically change our economy and our lives, according to the authors of a new book published by Routledge. Economics Explored host Gene Tunny speaks with authors Nicholas Johnson, CEO of Economists Without Borders, and Dr Brendan Markey-Towler, and Associate of EWB. Where you can buy the book Econ...

Economics Explored host Gene Tunny discusses the evidence on the impact of changes in minimum wages on the employment of low-skilled workers. Links relevant to the conversation include: David Neumark on the Employment effects of minimum wages Australian Productivity Commission Workplace Relations Inquiry Report Glenn Loury and David Neumark video podcast discussion of minimum wage Paul Krugman opi...

Economics Explored host Gene Tunny discusses the natural rate of unemployment and the non-accelerating inflation rate of unemployment, the NAIRU. He considers whether they're the same thing, why they are important, and what affects them.  Links relevant to the episode include: Milton Friedman's 1967-68 AEA Presidential Address on the role of monetary policy Kansas City Fed paper on a new estimate...

Around the world, the tech giants such as Google and Facebook are being challenged by traditional media and governments. This episode considers the pros and cons of a new proposal in Australia to improve the bargaining position of traditional media companies relative to the tech giants. Economics Explored host Gene Tunny discusses the issues with his Adept Economics colleagues Taylor-Rose Hull and...

Economics Explored host Gene Tunny speaks with Stephen Howell , Principal Adviser of Effective Governance , regarding the importance of good corporate governance to a well-functioning economy. They consider examples of how poor governance of companies has damaged economies in the past, and they discuss principles for good corporate governance. Corporate social responsibility is also discussed, beg...

Quantitative Easing (QE), once considered unconventional monetary policy, is becoming a long-term strategy of central banks. Michael Knox, Chief Economist of Morgans, a major Australian wealth management firm, discusses his recent note on this issue with Economics Explored host Gene Tunny. Relevant links include: Michael Knox’s note QE as a long-term strategy Ben Bernanke’s AEA Presidential Addres...

The Precautionary Principle is being used to justify the closure of state borders in Australia to deal with COVID-19. Should the Precautionary Principle, which many argue is relevant to climate change, be extended to COVID-19? Economics Explored host Gene Tunny discusses the Precautionary Principle and COVID-19 with Joe Branigan, Director of Tulipwood Economics. Links relevant to the conversation...

How cutting red tape and improving regulations could help economies recover from the COVID-crisis.  Economics Explained host Gene Tunny speaks with University of Sydney Associate Professor Salvatore Babones about his paper, co-authored with Ben Scott, Rationalising Regulation , which is part of the Centre for Independent Studies Pandemic to Recovery Policy Papers series.  The paper is available vi...