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.
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.
Critics have called it “incoherent” and “schizophrenic” .
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.