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3946172
Public Policy Approaches
Descrição
ECON2540
Sem etiquetas
policy
dke
innovation
economics
econ2540
bachelor
Mapa Mental por
stella.kalis
, atualizado more than 1 year ago
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Criado por
stella.kalis
aproximadamente 9 anos atrás
46
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Resumo de Recurso
Public Policy Approaches
0. Preface:
Economy is a Complex System
in LR largely outside of direct control of individual policy makers
take Systems Process Approach
facilitate community processes
e.g. communication
e.g. self-organisation
e.g. transformative innovation
1. Innovation is key driver of capitalist system
process will involve creative destruction
recessions free up resources used by inefficiency / defunct firms
policy can encourage or hinder innovation
avoid propping up old dying inefficient industries
facilitate structural change processes to speed up destructive process
social welfare system important support during digital disruption
2. Emphasize LR dynamic efficiency
Long term strategic direction for a firm, industry or economy
strategic trade theory
invest in building blocks today for tomorrows evolutionary development
more and ealier STEM education, programming at high school, financial incentives
e.g. NBN, telecommunications investements
health and education
private health care levy
superannuation policy
renewable energy
govt funded R&D
Critical for radical innovation, but so much UNCERTAINTY present
Strategic role for public investment
e.g. medical research, renewable energy, defence
tradeoff between stability and order, and openness and diversity
Dynamic VS Static
will need BOTH but different situations required different emphases
DYNAMIC: creativity, entrepreneurship, LR
STATIC: Managerialism, SR
allows for sub-optimal frameworks within jurisdiction
facilitating diverse points of view within system
e.g. Arts and Humanities funding
dictatorships dont allow for diversity -> no innovation
3. Improve Linkages between system components
encouraging firms to work together
law & order
CRC: Cooperative Research Centers (between govt, universities and private industry)
Government can set visions for the future
these visions can be the catalyst for increased linkages between industries
4. Support and encourage experimental behaviour
economy needs to be tolerant of failure
social security network
support by gov for R&D, seed funding, incubators
5. Encourage abundant microdiversity and variety
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