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

Richard B. 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%u2019s 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 %u2013 one whose experiences illuminate fundamental economic issues; examines the criterion for an economy to serve as a model economy; and describes three areas %u2013 labour relations and the awards system of wage-setting, marketizing public services and growth through immigration and natural resources %u2013 where Australian experience provides insights into economic behaviour and the operation of markets broadly.

New Economics Papers: this item is included in nep-ltv and nep-pke
Date: 2006-03
Note: LS
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