This week in Editors’ picks we explore whether economics may be characterised as a science, promotion of policy that combats warming, the effect of fee deregulation on Australian University rankings, the ever-persistent gender wealth gap, and the disparity between public perceptions and actual CEO salaries from around the globe.
Is Economics a Science? Dogmatic Economics Vs. Reflective Economics – Fixing the Economists
New economic frameworks often render previous ones inapplicable, but nonetheless rarely mean that older models are ‘false’. However, this is the claim often made – that economics, as a science, builds upon new facts in order to generate timeless theories. Is Economics a Science? intriguingly scrutinises such a perception of the field of Economics.
Try jam today – The Economist
A team of a former president, former prime ministers, and two Nobel economics laureates, have issued a shrewd report on the impact of deteriorating global environments on growth and productivity. Structural changes, that benefit the environment, are depicted as fundamental in ensuring growth in global demand, rather than policies that idealistically aim to slow warming. Read on for more insights from most notable authors.
The push for fee deregulation on Australian university has seen Education Minister, Christopher Pyne, claim that without such structural change, our institutions of higher education will ‘slide into mediocrity’. ABC FactCheck has criticised the claim as far-fetched, evidencing recent data on world university rankings to deeply undermine its credibility.
Lower pay, lower wealth a woman’s lot in life – Matt Wade
Wage gaps between the sexes is no new story, but wealth inequality between genders remains difficult to quantify, and thus is subject to relatively small amounts of comment and debate. While Matt Wade makes his contributions in this short piece, drivers of the wealth gap are still unclear. What is conclusive, however, is that “hard work” has little to do with it, perpetuating generation after generation the economic disparity between men and women.
CEOs Get Paid Too Much, According to Pretty Much Everyone in the World – Gretchen Gavett
Recent research demonstrates substantial incongruences between perceptions held in the community about CEO salaries, and the reality of the situation. This lack of awareness in communities from around the globe subdues impetus to reduce these wage gaps. Read on to find out more implications of this fascinating experimental research.