My good friend Andrew Leigh is the winner of the Young Economist Award, granted every two years to the best Australian-based economist under the age of forty. It’s really a rather splendid achievement. And entirely well-deserved.
Andrew’s career has been quite extraordinary. You see, economics was neither his first career, nor is it his current career. He began life as a star lawyer—clerking for the Aussie equivalent of the Supreme Court, and joining one of the big city firms. He then moved on to his second act as a policy advisor for the center-left politicians in both Australia and the UK, and a think tank in the U.S.
Finally, he began his third act, as an academic economist. Read More »
Growing up in Australia, I always knew it was true. And now The Wall Street Journal confirms it:
No worries, mate: Australia may be the world’s happiest industrialized nation by one reckoning, even as it grapples with rising inflation, pricey housing and worries that it is developing a two-track economy.
The resource-rich nation ranked highly in areas such as overall satisfaction, health, leisure time and community networks, according to a new survey released Wednesday by the Organization for Economic Cooperation and Development of the 34 nations that make up its membership. The index found that 75% of Australians were satisfied with their lives, above the U.S. average of 70% and well above the OECD’s average of 59%, while 83% expect things to be even better in five years from now.
Strangely enough, a few years back Danny Blanchflower and Andrew Oswald—perhaps unsurprisingly, a pair of Brits—wrote a paper, “Happiness and the Human Development Index: The Paradox of Australia,” arguing that Australia was surprisingly unhappy. But there really never was a paradox. Instead, the authors were simply over-interpreting two datapoints. Read More »