Monday Message Board

As another Monday rolls around, I’m in Canberra for the Economists’ Conference. So, I’m suggesting the starter question for this week’s Message Board. What are the big (unanswered or unasked) questions in economics. Feel free to offer comments on the state of other social sciences or, as always, on any topic that takes your fancy (civilised discussion and no coarse language, please).

26 thoughts on “Monday Message Board

  1. Mainstream economics has undervalued the potential contribution that environmental economics has to offer policy formulation. The outstanding principle is that in this age of increasingly-widespread environmental degradation, new products and industries that are environmentally-friendly should be the main targets of industry assistance. This is so, because a secular increase in world demand for such products is pretty easy to predict, especially given the strength of the green movement in Europe.

    Any country that invests heavily in green product development therefore has the potential to place itself in a position of very strong Schumpeterian innovatory leadership and to generate future high levels of export demand.

    This, of course, is an out-of-fashion, boring, long-term view though. It’s also one reason why the recent decision to jump on the GMO juggernaut and allow the release of GM canola into the Australian environment for commercial production was so very disappointing.

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