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Podcast episode

EP90 – Lockdown Cost-benefit Analysis with Professor Douglas Allen

Episode 90 of Economics Explored features a discussion regarding COVID lockdown costs versus benefits with Professor Douglas Allen from Simon Fraser University, Canada. Professor Allen has concluded COVID lockdowns have been the greatest peacetime policy failure in Canada’s history. Please check out our conversation for Professor Allen’s justification for this claim.

Links relevant to the conversation include:

Professor Allen’s Lockdown CBA for Canada

Economist: Lockdowns ‘Greatest Peacetime Policy Failure’ in Canada’s History – Foundation for Economic Education

Our World in Data – Coronavirus

Please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com.

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Podcast episode

EP68 – COVID and Wartime: Comparison of economic impacts

Economics Explored episode 68 COVID and Wartime features a conversation on whether COVID can be compared to wartime, which considers the different scales and scopes of the shocks, and what it all means for prospects for economic recovery. Economics Explored host Gene Tunny, an Australian professional economist and former Treasury official, speaks with businessman Tim Hughes, also based in Brisbane, Australia.

Gene and Tim conclude that a comparison of COVID to wartime isn’t valid. One reason is that World War II required a complete reorganisation of the economy to maximise production for the war effort, while COVID has involved restrictions that have reduced economic activity. 

Links relevant to the conversation include:

Comparing COVID-19 to past world war efforts is premature — and presumptuous

US Council on Foreign Relations Backgrounder on The National Debt Dilemma

Brookings on What’s the Fed doing in response to the COVID-19 crisis? What more could it do?

Australia’s Boldest Experiment (excellent book on Australia’s wartime economy)

Robert Gordon’s The Rise and Fall of American Growth (outstanding book by a leading US economist containing a great discussion of America’s wartime economy)

Aussies over-confident after being over-compensated by Gov’t for COVID-recession

Mint security lapse amazes judge (story about theft from the Australian Mint in early-to-mid 2000s)

Finally, the word Gene got stuck on at 6:55, irredentist, means, “a person advocating the restoration to their country of any territory formerly belonging to it”, according to Oxford Languages.

If you’d like to ask a question for Gene to answer in a future episode or if you’d like to make a comment or suggestion, please get in touch via the website. Thanks for listening.

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Podcast episode

EP67 – Regulating Big Tech

It’s been a challenging year 2020, but one positive development is that regulators in the US and Australia have started challenging the Big Tech companies Google and Facebook over alleged misuses of market power. The US Department of Justice is taking on Google over its search dominance and the Federal Trade Commission is taking on Facebook over allegedly restricting competition by buying up potential competitors such as Instagram and WhatsApp. In Australia, the Media Bargaining Code designed to assist traditional media companies negotiate for a share of ad revenue with Big Tech is currently being considered by a Senate committee. In my latest Economics Explored podcast episode Regulating Big Tech, I provide an update on moves by governments and regulators, and I discuss the relevant economic concepts and policy issues.

Links relevant to the conversation include:

Joseph Stiglitz on Regulating Big Tech

Don’t Be Evil: The case against big tech by Rana Foroohar

Australian Treasury Laws Amendment (News Media and Digital Platforms Mandatory Bargaining Code) Bill 2020

Economics Explored EP58: Tech Giants challenged by the Media and Governments

Economics Explored EP22: Antitrust with Danielle Wood from the Grattan Institute

Economics Explored EP21: Surveillance Capitalism with Darren Brady Nelson

Economics Explored EP16: Big Economic issues for the 2020s