Nobody yet knows the new pay equity regime’s administrative cost. But we have a pretty good estimate of the costs of the pay equity settlement for the aged care sector: about two billion dollars. Read more

It is too easy to take prices for granted – in part because nobody invented them. If somebody had invented prices as a way of making sure that goods, services, capital and workers wind up, for the most part, getting to the places where they are most needed, that hero would have commemorative statues everywhere. Read more

Businesses that fail as badly as government does would go bankrupt. But when government screws up, it gets more power instead. Read more

New Zealand may never have a better chance of drawing top talent away from America. This week's changes to skilled migrant requirements will help but not as much as they should. Read more

You may be in a spot of trouble if you ever really wind up having to kill two birds with the throw of one stone. It is a tricky shot to pull off. Read more

Economist Alex Tabarrok says prices are a signal wrapped in an incentive. Prices tell us about relative scarcity and provide an incentive to conserve on scarce things. Read more

I’m a fan of classic episodes of The Simpsons. In Cape Feare, Sideshow Bob sneaks a ride under the Simpsons’ car, with murderous intent. Read more

If you want to know the real value of recreational fishing, the last place you should look is inside an economic impact assessment. People often make fun of economists for knowing the costs of everything and the value of nothing, but when it comes to economic impact assessments, it’s even worse. Read more

One decent policy rule is never to make the perfect the enemy of the good, but to always keep the perfect in mind anyway. But sometimes there really is the chance to aim for the perfect. Read more

What I really love about the rest of the world is that as it gets crazier, we stay the same sane. Or at least mostly so. Read more