Economics Explored

Dave Belvedere is a software engineer who searches for opportunities to make the crypto market more efficient and to make money at the same time - e.g. by exploiting arbitrage opportunities. Dave gives show host Gene Tunny and his colleague Tim Hughes an overview of cryptocurrency and also talks about NFTs and decentralized applications (dApps), such as Wizards & Dragons. Please get in touch with...

Can we get people to work harder and perform better if we make their pay performance-related - e.g. with performance bonuses or commissions? Does this work? Are individual or group incentives better? What does the evidence say? We know that people respond to incentives, but, as Gene Tunny and Tim Hughes discuss this episode, getting those incentives right can be tricky.  Please get in touch with a...

What are the characteristics of superforecasters? How can a superforecasting team be developed? Hear from Warren Hatch, CEO of Good Judgment, a leading global forecasting business based in NYC. Accurate forecasts from Good Judgment superforecasters have included the scale of the pandemic. In early 2020, Good Judgment superforecasters estimated the United States would have over 200,000 deaths from...

Australian Treasurer Jim Chalmers argues for values-based capitalism and against neoliberalism in a January 2023 essay in the Australian Monthly magazine. In this episode, show host Gene Tunny discusses the Treasurer’s essay with Dr John Humphreys. John is the Australian Taxpayers’ Alliance (ATA) Chief Economist and the founder of the Australian Liberal Democrats. Gene and John discuss just how li...

The world’s population keeps growing and passed 8 billion in late 2022, but China’s population is now falling. There are concerns over what that means for its economy and the wider global economy. Is Paul Krugman right that a falling population means a weak Chinese economy? Show host Gene Tunny and his colleague Tim Hughes discuss the possible implications of a shrinking China, as well as global p...

Last year we saw the beginning of the normalization of interest rates and monetary policy, as central banks responded to accelerating inflation. Show host Gene Tunny talks about the current tightening cycle and when it might end with his colleague Arturo Espinoza. Among other things, Gene and Arturo discuss what history tells us about typical interest rates and returns on capital, referencing UK b...

Planet Earth Cleaning Co. and Ecobin founder John Engelander proposes that environmental and business sustainability can go hand-in-hand. Show host Gene Tunny asks John about the benefits and costs of businesses adopting more environmentally-friendly practices.  Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice messa...

Professor Allen Morrison has been studying China for over three decades and he’s an expert on the Enterprise China model, the close relationship between business and state in China. Chinese companies take the lead from Beijing to help meet state objectives, including reduced dependency on the west. In return they get competitive advantages over western businesses trying to break into China. In thi...

Energy market expert Joshua Stabler shares his views on the current Aussie energy crisis and how well placed Australia and other countries are to transition to net zero greenhouse gas emissions. Learn why Josh thinks that transition could be disorderly, and learn about the role self-driving EVs could play and whether Josh thinks nuclear energy and hydrogen are realistic options for Australia.  Ple...

Corporations such as Google, Amazon, and Live Nation are allegedly taking advantage of chokepoints in the economy, earning excessive profits. That’s the thesis of a new book, Chokepoint Capitalism: how big tech and big content captured creative labour markets, and how we'll win them back. The authors are Uni. of Melbourne Law Professor Rebecca Giblin and writer and activist Cory Doctorow. Show hos...

In his new book, Understandable Economics, Howard Yaruss from NYU argues “Understanding Our Economy Is Easier Than You Think and More Important Than You Know.” Howard is an Adjunct Instructor in economics and business at NYU. Previously, he was Executive Vice President and General Counsel of Radian Group, a mortgage insurance company. Howard lives in Manhattan and serves on his local community boa...

In The New Yorker, Wingham Rowan was described as a “labor reformer” who “wants to reimagine labor markets for the digital age.” In episode 167 of Economics Explored, Wingham talks to host Gene Tunny about the potential of Public Official e-Markets. Wingham is a former British TV presenter who is now the managing director at Modern Markets for All (MM4A), a non-profit seeking to advise governments...

Professor Jon Erickson is an ecological economist and advisor to policymakers including Senator Bernie Sanders. In his new book The Progress Illusion, he criticizes what he calls “the fairytale of economics” and argues we are failing “to design an economy that is socially just and ecologically balanced.” Show host Gene Tunny discusses Prof. Erickson’s new book with him in this episode of Economics...

Cities worldwide want to be more innovative because innovation is a driver of economic growth. The Innovation Cities Index shows cities where they’re doing well and where they’re doing badly relative to other cities. Hear from Index creator Christopher Hire about the importance of having policies that are good for entrepreneurs and just how bad red tape is for innovation. You’ll also learn how the...

The governments of many countries have structural budget deficits, so even as their economies recover from the COVID-recession they are still running deficits. In many countries, the fundamental structure of the budget is bad. There is too much spending relative to revenue, even in normal or good times, not just in recession. In this episode we explore how economists can calculate structural budge...

Slouching Towards Utopia is the new book from Brad DeLong, Professor of Economics at University of California, Berkeley. Professor DeLong joins show host Gene Tunny to discuss the long twentieth century from 1870 to 2010. The conversation considers the three factors which came together to massively raise living standards post-1870, and how nonetheless we’ve struggled to achieve the Utopia that onc...

The National Accounts is the comprehensive data set on a country’s economic performance. It gives us GDP growth estimates and a whole bunch of other important indicators. Australian Bureau of Statistics Principal Advisor Robert Ewing takes us behind the scenes at the ABS and provides some great info and insights into how the GDP figures are prepared. Learn about the huge range of economic data fro...

Various projects worldwide have been labeled White Elephants. These projects include the Gold Coast desalination plant and the Berlin Brandenburg Airport, among many others. What exactly is a White Elephant? How can we identify them and how can we stop them from happening in the future? In this episode, Scott Prasser joins show host Gene Tunny to talk about White Elephants. Scott is a former acade...

Why are cities growing faster than regional areas in many economies around the world, including in Australia, the US, and UK? Robert Sobyra of Construction Skills Queensland explains his recent research findings to show host Gene Tunny. Robert and Gene discuss what the predominance of high-skilled employment growth in cities means for regional economies, and whether policy measures to address the...

The Cato Institute’s Romina Boccia explains why she’s concerned about a future US fiscal crisis. She explains how entitlement programs such as Social Security and Medicare are the source of the problem.  This episode’s guest Romina Boccia is Director of Budget and Entitlement Policy at the Cato Institute, where she specializes in federal spending, budget process, economic implications of rising de...

What causes hyperinflation and how can it be avoided in the first place or stopped if it occurs? What characterizes countries which fall victim to hyperinflation? A conversation between show host Gene Tunny and his colleague Arturo Espinoza which explores the economic theory and evidence around hyperinflation, and discusses peculiarities which can arise in hyperinflation-afflicted economies - e.g....

Author and ex-fighter pilot Lars Emmerich explains why he’s so excited about the future of Bitcoin. And you’ll hear how he responds to the criticism that Bitcoin mining wastes a lot of  energy. Lars also tells show host Gene Tunny about his experience as an author operating in a disrupted book industry. Lars explains how the internet can give authors a better deal than traditional book royalties,...

Australia’s National Electricity Market was suspended by the market operator for nine days in June 2022. For a brief period, authorities were worried there would have to be widespread blackouts to balance supply and demand, so the market operator stepped in to direct generators to produce the power that was needed. In this episode, Andrew Murdoch, Managing Director of Arche Energy, explains what w...

An electrified vehicle fleet will mean lower fuel tax revenues for governments and possibly greater traffic congestion as EVs are cheaper to run. Governments around the world are having to reassess how they charge for road use and one Australian state, Victoria, has introduced an EV tax based on distance traveled. In Economics Explored EP155, Marion Terrill from the Grattan Institute discusses wha...

A wide-ranging conversation on petrol/gasoline prices and electric vehicles (EVs). The conversation explores the peculiar economic phenomenon that is Australia’s petrol price cycle. What drives it and how can consumers make it work for them? Show host Gene Tunny and his guest Tim Hughes then discuss the big issues around replacing petrol-powered vehicles with EVs. What does it mean for total elect...