Economics Explored

Gene Tunny

Hard-headed economic analysis applied to important economic, social, and environmental issues.

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20 episodes
weekly
Avg 44 min
English

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#326
Sunday · 30 min
Why Governments Should Fear the Bond Market
Why did the US Treasury intervene to support the Japanese yen? And what does this tell us about the growing risks in global financial markets? Gene Tunny and John Humphreys examine the connections between exchange rates, government bonds, inflation and public debt. They discuss why selling US Treasury bonds could push up American borrowing costs, the dangers of high debt combined with higher interest rates, and whether Australia is better placed to weather future financial turbulence.
#325
October 25 · 1 hr 9 min
Career Advice for Aspiring Economists in the AI Age
If AI can write code and analyse data, what skills will tomorrow's economists need? Gene Tunny revisits his career advice for economics students and graduates, explaining why critical thinking, clear writing and interpersonal skills may matter more than ever. He weighs the benefits of starting in government versus consulting, explains why publishing your own work can open doors, and shares lessons about networking, mentorship and avoiding burnout. An essential discussion for anyone considering a
#324
October 18 · 46 min
How Economic Growth Saved Us from the Grim Old Days w/ Chelsea Follett, Cato Institute
Before industrialisation, most people lived in extreme poverty, worked long hours, and faced dangers that are almost unimaginable today. In this episode, host Gene Tunny speaks with Chelsea Follett, Research Fellow at the Cato Institute and author of The Grim Old Days: An Introduction to the Pre-Industrial Past. Chelsea challenges romanticised views of history and explains how the Industrial Revolution and subsequent economic growth transformed human living standards.
#323
October 11 · 43 min
When Money Disappears: Lessons from a War
What happens when a town runs out of money? During the Franco-Prussian War of 1870, the French town of Sedan faced an economic crisis as gold and silver coins disappeared from circulation. Yet, as Émile Zola recounts in his novel The Debacle, an ingenious solution helped keep commerce alive: locally issued emergency paper money. Show host Gene Tunny explores this remarkable story and what it reveals about the nature of money, the importance of trust, and the ability of communities to improvise w
#322
October 4 · 50 min
Will AI Finally Show Up in Productivity? With Chris Berg
Australia's latest Intergenerational Report assumes productivity growth will rebound significantly over coming decades, with AI potentially playing a major role. Is that reasonable? Professor Chris Berg of RMIT joins Gene Tunny and John Humphreys for a wide-ranging discussion of AI's economic potential and risks. They explore lessons from the computer and internet revolutions, AI's huge energy requirements, whether its benefits will appear in GDP, the cybersecurity threat from autonomous agents,
#321
July 12 · 27 min
Gig Economy Pay Rises, Café Closures and the Zero-Sum Fallacy
When the award-winning Springfield café Screamin’ Beans announced its closure, Gene Tunny saw it as a symptom of a bigger problem: wage and regulatory costs rising faster than many small businesses can absorb. In this episode, Gene looks at a landmark Australian Fair Work Commission decision that could reshape pay for gig economy delivery drivers, and shares a conversation with John Humphreys of the Australian Taxpayers’ Alliance on why the net benefit of a minimum wage rise to a worker is ofte
#320
June 27 · 43 min
How Good Tax Policy Gets Made and How It Doesn't: GST vs Capital Gains Tax in Australia
Most tax debates focus on the what: rates, base, and who pays. This episode is about the how: the process by which economic policy gets made. Drawing on his time in the Australian Treasury, host Gene Tunny argues that the latest changes to capital gains tax and negative gearing reflect a breakdown in good policymaking. They were announced on budget night without the consultation, published modelling, or public mandate that major reform deserves. As a contrast, Gene revisits the Howard government
#319
June 20 · 32 min
Dams, Development & Hyper Australia w/ Senator Matt Canavan, National Party Leader
Housing affordability, congestion and rising living costs are putting pressure on Australia's major cities. Could stronger regional development provide part of the solution? Gene Tunny shares highlights from a recent discussion with Nationals leader Senator Matt Canavan on his "Hyper Australia" agenda. They explore regional infrastructure, public investment, economic concentration, GST distribution and the case for decentralisation, while asking an important economic question: do regional develo
#318
June 13 · 46 min
Taxing Capital More in a Productivity Slump? Perverse Policy in Australia
Australia has endured nearly a decade of weak productivity growth, and living standards are under pressure. In this episode, Gene Tunny and John Humphreys explore the common thread connecting several major economic debates: investment and incentives. They discuss Australia's productivity slump, the Federal Government’s proposed capital gains tax changes, Brisbane’s Olympics infrastructure plans, and the challenges facing the National Disability Insurance Scheme (NDIS). Along the way, they explai
#317
April 25 · 56 min
Debt and Deficits: Have We Lost Discipline? w/ Sinclair Davidson & John Humphreys
Debt and deficits used to be political dealbreakers. So why don’t they seem to matter anymore? In this episode, Gene Tunny explores the concept of fiscal illusion with John Humphreys and Professor Sinclair Davidson. They examine whether Australia is “sleepwalking” into a more precarious fiscal position, and what could happen if a crisis hits. A thought-provoking discussion on debt, accountability, and economic literacy.
#316
April 17 · 39 min
Have We Gone Too Far on Free Trade?
Free trade has long been a cornerstone of economic thinking, but is it still fit for purpose in a more dangerous and uncertain world? Gene Tunny is joined by Dan Ryan and John Humphreys to debate tariffs, industrial policy, and economic resilience. They explore whether Australia has gone too far in opening its economy, the risks of fragile global supply chains, and the perceived trade-offs between efficiency and national security.
#315
April 11 · 25 min
Housing Crisis: Supply, Demand, or Both? w/ John Humphreys and Tom Switzer
What happens when geopolitical tensions collide with domestic economic pressures? In this episode, Gene Tunny is joined by John Humphreys and Tom Switzer to unpack the economic fallout from escalating tensions with Iran. The conversation then turns to Australia’s housing affordability crisis—examining whether government policies, population growth, or supply constraints are to blame.
#314
March 27 · 53 min
Fuel, Fertiliser, and Fear Down Under - ep314
Are fears of fuel shortages in Australia overblown—or are we underestimating the risks? Gene Tunny is joined by Dr John Humphreys and farmer Peter Rothwell to explore how rising diesel prices, fertiliser shortages, and supply chain stress could ripple through the economy. From supermarket prices to farm viability, this episode breaks down how a global energy shock could hit households and businesses—and whether markets can cope.
#313
March 14 · 55 min
AI, Jobs, and the Value of Ideas w/ Benjamin Shiller, Brandeis University
AI can write essays, generate code, and assist with research, but does that mean it will replace human workers? Economist Benjamin Shiller, author of AI Economics, joins show host Gene to discuss how AI may instead make human creativity and ideas even more valuable. In this conversation with Gene Tunny, they explore AI’s potential impact on jobs, productivity growth, education, and inequality, as well as the risks the technology could pose.
#312
March 7 · 39 min
Why Productivity Matters for Living Standards | Australia’s Productivity Problem
Australia’s productivity growth has slowed to its weakest rate in decades — and that matters because productivity ultimately drives rising living standards. In this episode, Gene Tunny explores why productivity is so central to higher wages, economic growth, and sustainable prosperity. The episode features insights from Danielle Wood, Chair of the Productivity Commission, on why policymakers need a “growth mindset,” followed by highlights from a lively roundtable discussion on the policies shapi
#311
March 1 · 30 min
Argentina’s Radical Economic Turnaround
Argentina was on the brink: inflation near 300% a year, real wages collapsing, poverty rising, and a large fiscal deficit. Voters elected libertarian economist Javier Milei, who promised deep spending cuts and radical reform. Many predicted a disaster. Two years on, inflation has fallen sharply, and real wages are projected to rise. In this episode, show host Gene Tunny chats with John Humphreys (Australian Taxpayers’ Alliance Chief Economist) and Michael Arbon (adviser to Senator Ralph Babet) o
#310
February 21 · 50 min
A Pro-Growth Tax Reform Agenda for Australia
What would tax reform look like if the goal were higher wages and stronger long-term growth — rather than more revenue? In this episode, Gene Tunny and John Humphreys examine capital gains tax, bracket creep, and income tax reform through the lens of productivity and living standards. While the discussion focuses on Australia, the principles apply everywhere. How should governments tax capital versus labour? Should tax brackets be indexed to inflation? And how can tax systems encourage saving, i
#309
February 13 · 58 min
What Would Adam Smith Make of Australia? | A C+ Scorecard
Adam Smith is often invoked as the intellectual godfather of modern capitalism — but he was also a moral philosopher. Judo Bank founder and former CEO Joseph Healy joins Gene Tunny to argue that Australia’s market economy has drifted from Smith’s vision. From weak competition and high household debt to corporate scandals and lobbying influence, this episode explores whether capitalism has been “hijacked by capitalists” — and why complacency may be Australia’s greatest economic risk.
#308
February 7 · 41 min
What Counts as Economic Activity — and What Doesn’t
What do we actually count as economic activity — and what do we leave out? In this episode, Gene speaks with economist Misty Heggeness about Swiftynomics, her new book on women’s work, unpaid care, and the limits of standard economic statistics. Misty uses Taylor Swift as a narrative anchor for a broader argument about care, work, and economic growth. She argues that large amounts of productive activity — especially care and household work — sit outside GDP. The conversation explores unpaid labo
#307
January 24 · 43 min
Why Economists Defend Free Speech
What does free speech have to do with economics? A lot more than you might think. In this episode, Gene Tunny is joined by John Humphreys to explore free speech as a core institutional pillar of prosperous societies. From Mao’s Great Leap Forward to modern Australia, they show how restricting speech distorts incentives, breaks feedback loops, and leads to catastrophic policy failure. Even well-intentioned speech laws, they argue, can have dangerous unintended consequences.

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