To control the COVID-19 pandemic through random testing would require about 6.5 million test a day. Using group testing and machine learning could get that number down to fewer than 40,000 day.
It's time to reform stamp duty, one of the most inefficient and distorting taxes collected by Australia's state and territory governments.
We judge the competency of politicians by what they say and do. This creates perverse incentives for even competent politicians to refuse to admit mistakes.
Competition in the marketplace for ideas is different to competition in the market for ordinary goods and services. Bad ideas don't necessarily get trashed.
Much of what we now think is obvious about politics and economics was worked out by Alberto Alesina.
Scott Morrison may have realised his real power is not as an advocate but a broker.
China's dumping stoush with Australia isn't just about barley. But it is about trade and unfinished business in global trade rules.
A realistic estimate of the economic costs of a two-year lockdown amounts to $90 billion. The benefit in lives saved amounts to around $1.1 trillion.
Government rules do more than simply define what is permissible. They also signal information that influences public behaviour in other areas of life.
We'll need to spend at least an extra 15-20 per cent of GDP per year. It'll be more palatable if it is funded by COVID bonds.