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

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  • Richard B. Freeman

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.

Suggested Citation

  • Richard B. Freeman, 2006. "Learning from Other Economies: The Unique Institutional and Policy Experiments Down Under," NBER Working Papers 12116, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:12116
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    2. Samantha Farmakis‐Gamboni & David Prentice, 2011. "When Does Reducing Union Bargaining Power Increase Productivity? Evidence from the Workplace Relations Act," The Economic Record, The Economic Society of Australia, vol. 87(279), pages 603-616, December.
    3. Richard B. Freeman, 2007. "Learning from Other Economies - for example from Somewhere Down Under," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 5(3), pages 33-37, October.
    4. Richard B. Freeman, 2007. "Learning from Other Economies - for example from Somewhere Down Under," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 5(03), pages 33-37, October.
    5. Samantha Farmakis-Gamboni & David Prentice, 2007. "Does Reducing Union Bargaining Power Increase Productivity?," Working Papers 2007.04 EDIRC Provider-In, School of Economics, La Trobe University.

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