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Scavenging for rationality at the Camberwell Sunday Market

In economics, we are often presented with the benchmark of a perfectly competitive market, in which a large number of buyers and sellers trade homogenous products with perfect knowledge regarding price and utility. The only feature Camberwell Sunday Market shares with this benchmark is a large number of buyers and sellers.

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A hypothetical foray into time as a resource

In his ESSA debut, Daniel Tan explains why time is the ultimate resource, and visits seemingly outlandish concepts such as time elasticity, a changing supply of lifetime, and time travel.

An overview of the 2013 Australian federal election campaign

This article forms part of an ongoing series looking at economic issues as Australia heads into the Federal Election. More coverage can be found on the Election 2013 page of ESSA’s website.

The primary objective of a major party leader during an election campaign is to gain any advantage possible over one’s opponent. The incumbent ostensibly has a slight advantage in that they get to choose the election date.

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Why we sometimes have to rob Peter to pay Paul

Critics have called it “incoherent” and “schizophrenic” [1].

It sounds alarming on its own, but the Federal Government’s $2.3bn proposed cuts to funding for tertiary education is not the be-all and end-all to signing off David Gonski’s school funding deal. And while less spending money is never a good thing, opponents of the funding cuts are sounding the alarmist gong too soon.

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