Learning from Other Economies: The Unique Institutional and Policy Experiments Down Under

Richard Freeman

No 12116, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper argues that detailed studies of particular economies, such as Bob Gregory's work on Australia, are relevant to all of economics. The paper builds on the concept of a model species from biology to develop the notion of a model economy - one whose experiences illuminate fundamental economic issues; examines the criterion for an economy to serve as a model economy; and describes three areas - labour relations and the awards system of wage-setting, marketizing public services and growth through immigration and natural resources - where Australian experience provides insights into economic behaviour and the operation of markets broadly.

Date: 2006-03
New Economics Papers: this item is included in nep-ltv and nep-pke
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Published as Freeman, Richard B. "Learning From Other Economies: The Unique Institutional And Policy Experiments Down Under," Economic Record, 2006, v82(257,Jun), 195-206.

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