Editors’ Picks – 11 May 2014

This week in Editors’ Picks, our tunnel vision focus to the budget is evident but we’ve included a little insight into China’s credit dilemmas and feisty economics students to spice things up.

Six ways to fix Australia’s finances without cuts – Luke Mansillo

With the federal budget to be released this week, Mansillo concisely describes the government’s stance: ‘concessions for the rich, cuts for the rest’. In light of this, he provides six suggestions on how we can find money without making cuts, to ultimately produce a ‘fairer’ budget.

Australia’s economy is healthy, so how can there be a budget crisis? – Phil Lewis

Australians are hearing that the government must mount an urgent repair job to address the looming structural crisis that will see the budget in deficit for decades to come. University of Canberra Professor Phil Lewis argues Australia’s economy is strong, and why it is wrong to draw a straight line between it and the budget.

Economics students call for shakeup of the way their subject is taught – Phillip Inman

Economics students across nineteen different countries are calling for serious changes to their economic curriculums. The 41 protest groups that have formed argue that ‘the real world should be brought back into the classroom’, with a greater emphasis placed on 21st century economic issues.

Are we really living in the Age of Entitlement? – Peter Frey

Is it actually true that the age-old notion of “working your keep” is being replaced with a culture of entitlement?How impending is the threat of unproductivity and lazy free riders? In a multi-faceted argument that weighs up self-reliance and social spending, Fray explores the validity behind the Liberals’ rhetoric. (What a great primer before ESSA’s Eco Debate this Thursday!)

The Perils of Financial Freedom – Adait Turner

The credit monster has just caught China’s attention, after years of wasted investments that have uncovered a host of challenges, including deleveraging. Turner emphasises the importance “building an entirely new model, that combines the elements of market discipline with strong public policy constraints.”