Economics for Social Infrastructure

Economics for Social InfrastructureIn 2013 Nobel-prize winning economist Joseph Stiglitz argued Australia is overly focused on debt without putting this into international context. Other nations battled austerity measures & youth unemployment rates of over 50%. He argued Australia should build on economic growth by investing in public infrastructure like education & technology.

In May and again in July 2014, Stiglitz expanded on his argument. He wrote that Australia should not follow the American model of deregulation of education (university fees are set to rise dramatically in Australia under the new federal Budget) and health (free universal health care is being slowly dismantled). His arguments added to national conversations about inequality and demonstrated the power of social science to challenge economic rationalism.

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