regulation - Economics Students Society of Australia

regulation

A collection of 11 posts

Lessons learnt from the GFC and how to heed them

Lessons learnt from the GFC and how to heed them

Boards’ inability to effectively self-regulate firms Prior to the GFC, poor regulation by boards left financial institutions vulnerable to economic downturns. Short-term profits and market share were the primary concern of banks, with Chuck Prince, former CEO of Citibank, declaring “while the music is playing, you have to dance”. [1]

Uber is problematic - but you’ll keep using it anyway

Uber is problematic - but you’ll keep using it anyway

Since Uber’s inception in 2012, many people have taken a ride in an Uber car or at least understand the principles behind the popular ride-sharing service. For the unaware, Uber works by facilitating a transaction between someone who is able to drive someone else around and someone who is

The story of the real Australian economy: Part 3 – The RBA’s toolkit

australian economy

The story of the real Australian economy: Part 3 – The RBA’s toolkit

In the first two parts of this series, I outlined the circumstances of Australia’s current position and the issues which are underpinning our sub trend growth at the end of the resources boom. This is essentially summarised as high levels of borrowing by our banks and institutions with credit

“Water you going to do about it?”

“Water you going to do about it?”

What would happen if our demand for a commodity changed depending on how we used it? Prices of goods are theoretically determined by where the cost of supply intersects with demand. And as you learn in ECON101 ideally this will lead to the efficient allocation of resources to the benefit

The Economics of Uber

The Economics of Uber

Uber is a mobile application which connects passengers to willing, private drivers who pick them up and drive them where they need to go, much like a taxi service. Uber itself earns revenue by taking a 20% cut of fare cost. Currently, Uber is making headlines for various legal issues

The problems (and promise) of microfinance

The problems (and promise) of microfinance

Just three decades ago, billions of people around the world were stuck in a trap. Faced with low incomes on the one hand and exploitative loan sharks the other, they could neither save for the future nor purchase the capital required to generate a living. This changed with the pioneering

Self-managed super funds: a blessing or a bomb?

Self-managed super funds: a blessing or a bomb?

I remember sitting in a finance lecture on superannuation, presumably paying little attention, until the lecturer suddenly decided to embark upon a tangential rant. Being an avid listener of talkback radio on the long drives to and from Monash University, Clayton, I had acquired a taste for the rhetorical art-form

Applying economics in the so-called ‘real world’

Applying economics in the so-called ‘real world’

This article was featured as part of ESSA’s annual Equilibrium publication. Had anyone told me when I set out on my career in economics that one day I would become an ‘economic regulator’, I would have been somewhat bemused by the apparent tautology. The description, however, is somewhat misleading.

Competition and the law – economically sound, or theoretically patchy?

Australian competition law

Competition and the law – economically sound, or theoretically patchy?

If you look across today’s media, discussion about the level of modern competition appears to be everywhere. Headed by Coles and Woolworths, Australians are slowly seeing numerous facets of their everyday lives taken over by the large conglomerates – petrol, insurance, let alone the (decreasing number of) brands that can

John Freebairn Lecture recap

John Freebairn Lecture recap

On Thursday the 19th of September the University of Melbourne hosted the inaugural John Freebairn lecture titled ‘Governing the ungovernable: the market, technology and you’, presented by Professor Stephen King from Monash University. I had the opportunity to attend what was an insightful lecture about how the growing complexity, pace

How to regulate a legal cannabis market

In what had before seemed a distant future for pro-cannabis legalisation advocates, cannabis will soon be legally traded in recreational pot shops as a market good. The passing of Amendment 64 to the Colorado Constitution last November allows U.S. states to create their own laws regulating marijuana production and