The Productivity Commission gets it wrong on Economics 101

Today in The Australian

 

The god of long reports makes sure no one reads them. Having released its 600-page draft report on competition in the Australian financial system, the Productivity Commission would do well to keep the candles at that god’s shrine burning

About Henry Ergas

Henry Ergas AO is a columnist for The Australian. From 2009 to 2015 he was Senior Economic Adviser to Deloitte Australia and from 2009 to 2017 was Professor of Infrastructure Economics at the University of Wollongong’s SMART Infrastructure Facility. He joined SMART and Deloitte after working as a consultant economist at NECG, CRA International and Concept Economics. Prior to that, he was an economist at the OECD in Paris from the late 1970s until the early 1990s. At the OECD, he headed the Secretary-General’s Task Force on Structural Adjustment (1984-1987), which concentrated on improving the efficiency of government policies in a wide range of areas, and was subsequently Counsellor for Structural Policy in the Economics Department. He has taught at a range of universities, undertaken a number of government inquiries and served as a Lay Member of the New Zealand High Court. In 2016, he was made an Officer in the Order of Australia.
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3 Responses to The Productivity Commission gets it wrong on Economics 101

  1. Irreversible

    There is one very important point in that report, which is the incentive and subsidy to large banks inherent in the risk weighting of mortgages for capital purposes. It is very hard to understand why the RBA and APRA have not already removed it.

  2. Shy Ted

    Thanks to Bonking Barnaby we also now have a Reproductivity Commission.

  3. Art Vandelay

    No surprises there given the Chairman is a Labor appointee and most of the free market oriented staff have left.

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