Economics Explored

Most tax debates focus on the what: rates, base, and who pays. This episode is about the how: the process by which economic policy gets made. Drawing on his time in the Australian Treasury, host Gene Tunny argues that the latest changes to capital gains tax and negative gearing reflect a breakdown in good policymaking. They were announced on budget night without the consultation, published modelli...

Housing affordability, congestion and rising living costs are putting pressure on Australia's major cities. Could stronger regional development provide part of the solution? Gene Tunny shares highlights from a recent discussion with Nationals leader Senator Matt Canavan on his "Hyper Australia" agenda. They explore regional infrastructure, public investment, economic concentration, GST distributio...

Australia has endured nearly a decade of weak productivity growth, and living standards are under pressure. In this episode, Gene Tunny and John Humphreys explore the common thread connecting several major economic debates: investment and incentives. They discuss Australia's productivity slump, the Federal Government’s proposed capital gains tax changes, Brisbane’s Olympics infrastructure plans, a...

Debt and deficits used to be political dealbreakers. So why don’t they seem to matter anymore? In this episode, Gene Tunny explores the concept of fiscal illusion with John Humphreys and Professor Sinclair Davidson. They examine whether Australia is “sleepwalking” into a more precarious fiscal position, and what could happen if a crisis hits. A thought-provoking discussion on debt, accountability,...

Free trade has long been a cornerstone of economic thinking, but is it still fit for purpose in a more dangerous and uncertain world? Gene Tunny is joined by Dan Ryan and John Humphreys to debate tariffs, industrial policy, and economic resilience. They explore whether Australia has gone too far in opening its economy, the risks of fragile global supply chains, and the perceived trade-offs between...

What happens when geopolitical tensions collide with domestic economic pressures? In this episode, Gene Tunny is joined by John Humphreys and Tom Switzer to unpack the economic fallout from escalating tensions with Iran. The conversation then turns to Australia’s housing affordability crisis—examining whether government policies, population growth, or supply constraints are to blame. Gene would lo...

Are fears of fuel shortages in Australia overblown—or are we underestimating the risks? Gene Tunny is joined by Dr John Humphreys and farmer Peter Rothwell to explore how rising diesel prices, fertiliser shortages, and supply chain stress could ripple through the economy. From supermarket prices to farm viability, this episode breaks down how a global energy shock could hit households and business...

AI can write essays, generate code, and assist with research, but does that mean it will replace human workers? Economist Benjamin Shiller, author of AI Economics, joins show host Gene to discuss how AI may instead make human creativity and ideas even more valuable. In this conversation with Gene Tunny, they explore AI’s potential impact on jobs, productivity growth, education, and inequality, as...

Australia’s productivity growth has slowed to its weakest rate in decades — and that matters because productivity ultimately drives rising living standards. In this episode, Gene Tunny explores why productivity is so central to higher wages, economic growth, and sustainable prosperity. The episode features insights from Danielle Wood, Chair of the Productivity Commission, on why policymakers need...

Argentina was on the brink: inflation near 300% a year, real wages collapsing, poverty rising, and a large fiscal deficit. Voters elected libertarian economist Javier Milei, who promised deep spending cuts and radical reform. Many predicted a disaster. Two years on, inflation has fallen sharply, and real wages are projected to rise. In this episode, show host Gene Tunny chats with John Humphreys (...

What would tax reform look like if the goal were higher wages and stronger long-term growth — rather than more revenue? In this episode, Gene Tunny and John Humphreys examine capital gains tax, bracket creep, and income tax reform through the lens of productivity and living standards. While the discussion focuses on Australia, the principles apply everywhere. How should governments tax capital ver...

Adam Smith is often invoked as the intellectual godfather of modern capitalism — but he was also a moral philosopher. Judo Bank founder and former CEO Joseph Healy joins Gene Tunny to argue that Australia’s market economy has drifted from Smith’s vision. From weak competition and high household debt to corporate scandals and lobbying influence, this episode explores whether capitalism has been “hi...

What do we actually count as economic activity — and what do we leave out? In this episode, Gene speaks with economist Misty Heggeness about Swiftynomics, her new book on women’s work, unpaid care, and the limits of standard economic statistics. Misty uses Taylor Swift as a narrative anchor for a broader argument about care, work, and economic growth. She argues that large amounts of productive ac...

What does free speech have to do with economics? A lot more than you might think. In this episode, Gene Tunny is joined by John Humphreys to explore free speech as a core institutional pillar of prosperous societies. From Mao’s Great Leap Forward to modern Australia, they show how restricting speech distorts incentives, breaks feedback loops, and leads to catastrophic policy failure. Even well-int...

Auckland’s upzoning reforms have become a global case study in housing policy. Gene Tunny and John August dig into the data behind claims that loosening zoning rules boosted housing supply and eased rent pressures. They explore the statistical methods used, the critiques raised by sceptics, and the limits of zoning reform on its own. The episode also examines infrastructure constraints and whether...

Show host Gene Tunny speaks with cybersecurity expert Bruce Schneier of the Harvard Kennedy School about his new book, Rewiring Democracy, which explores the profound and often underappreciated ways AI is already reshaping democratic institutions. From AI-powered political campaigns and legislative drafting to citizen engagement and court systems, Schneier lays out both the potential and the peril...

Gene responds to thoughtful listener feedback on record-low fertility rates and explores why childcare, IVF, and returning to work for fortysomething mothers can be so economically challenging. He then travels back to ancient Rome to unpack a curious moment after Augustus’s victory over Antony and Cleopatra, when treasure flooded into Rome, interest rates plummeted, and land values soared—and expl...

Gold has doubled in price in less than two years—so what exactly is happening? Gene Tunny and John Humphreys break down the economic and geopolitical forces driving the surge, from inflation fears and rising global debt to BRICS nations buying massive amounts of gold. The conversation also explores whether a new gold-backed currency could challenge US dollar dominance. Gene would love to hear your...

“Make things again” — it’s a powerful slogan. But what does it really mean for Australia’s economy, workers, and national security? Show host Gene Tunny and Australian Taxpayers’ Alliance Chief Economist John Humphreys dig into the heart of the debate, from the politics of nostalgia to the realities of automation and global trade. A thought-provoking conversation about whether Australia can, or sh...

Venture capitalist Aman Verjee joins Gene Tunny to explore whether artificial intelligence is fuelling the next great economic bubble. Drawing lessons from history—from the 1840s railway boom to the 1990s dot-com surge—Aman argues that even frothy markets can spark long-term progress. The conversation also covers AI’s impact on jobs, productivity, and how policy can nurture innovation without stra...

Australia’s fertility rate is now at a record low of 1.48 babies per woman. Gene Tunny and John Humphreys discuss the sharp fall in fertility rates worldwide and what it means for Australia’s economy and society. They explore how declining birth rates threaten our economy, government budgets, and social cohesion, and whether migration, pro-natalist policies, or cultural change can reverse this tre...

Shutdowns are back—and Gene delves into the reasons, ramifications, and rhetoric. This episode examines the latest U.S. government shutdown, its potential to outlast previous ones, and whether it could signal deeper structural changes—or just more political theatre. Gene would love to hear your thoughts on this episode. You can email him via contact@economicsexplored.com .  Timestamps US Governmen...

What does net zero really mean, and what will it take to get there? In this episode, highlights from past guests reveal the full spectrum of views—from urgent calls for climate action to scepticism about costs and feasibility. With perspectives on extreme weather, carbon pricing, nuclear energy, coal, and productivity trade-offs, this episode cuts to the heart of the net-zero debate.  Gene would l...

Gene Tunny and John Humphreys unpack the economic troubles brewing in the UK, France, and the US—rising debt, social unrest, inflation, and faltering productivity. They explore why bond markets are sounding alarms, why governments are struggling to respond, and what this all means for Australia. The episode draws urgent lessons from these fiscal failures, with stark warnings for what lies ahead if...

Show host Gene Tunny breaks down why price controls are one of the most consistently failed economic policies. Using vivid historical examples from the 1970s US, the Soviet Union’s command economy, and Venezuela’s toilet paper crisis, he illustrates how interfering with the price mechanism leads to shortages, inefficiency, and unintended consequences.  Gene would love to hear your thoughts on this...