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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%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.

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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    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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