Economic thinking has driven policymaking in the past, but will it in the future?

Economic thinking has clearly played an important role in the prosperity and position Australia enjoys today. For that role to continue into the future, economic thinking needs to respond to the changing nature of our society, the challenges we are now seeing emerge, and deepen the understanding and advice it brings to the policy table, writes Sean Innis.

Many in the policy community look to the 1980s and 90s as a pinnacle of rational policymaking.  And it is certainly true that this period saw reformist governments, working closely with other key actors, make sweeping changes to Australia’s policy landscape.