Arbeitspapier
Ten lessons for economic policymakers
Economists have played a powerful role in shaping modern Australia. Drawing on my experience as an academic economist and an economic policymaker, I outline ten principles to guide economists seeking to maximise their impact. These are to (1) Focus on wellbeing, not just dollars; (2) Think comparative advantage; (3) Ignore sunk costs; (4) Optimise, subject to constraints; (5) Use the best evidence; (6) Consider expected value; (7) Think in magnitudes, not just in signs; (8) Channel a libertarian; (9) Remember equity; and (10) Incentives matter.
- Language
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Englisch
- Bibliographic citation
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Series: IZA Policy Paper ; No. 208
- Classification
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Wirtschaft
Role of Economics; Role of Economists; Market for Economists
Relation of Economics to Social Values
Microeconomic Policy: Formulation, Implementation, and Evaluation
Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
- Subject
-
economic policy
role of economics
relation of economics to social values
- Event
-
Geistige Schöpfung
- (who)
-
Leigh, Andrew
- Event
-
Veröffentlichung
- (who)
-
Institute of Labor Economics (IZA)
- (where)
-
Bonn
- (when)
-
2024
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Leigh, Andrew
- Institute of Labor Economics (IZA)
Time of origin
- 2024
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