Economic Policy for the 21st Century

Current discussion of economic policy in Australia is backward looking, dominated by the policy issues of the late 20th century, and in particular the microeconomic reform agenda of the 1980s and 1990s. By contrast, policy problems and opportunities that have arisen in the 21st century, including climate change and the Global Financial Crisis, are barely considered.

In this lecture, the implications of these issues for economic analysis will be discussed, and a policy response will be outlined.