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National Competition Policy (Australia)
The term National Competition Policy refers to a set of policies introduced in Australia in the 1990s with the aim of promoting microeconomic reform. Origins In 1992, an independent committee of inquiry, the National Competition Policy Review Committee, was established by Prime Minister Paul Keating to inquire into and advise on appropriate changes to legislation and other measures in relation to the scope of the Trade Practices Act 1974 and the application of the principles of competition policy. The Committee was chaired by Fred Hilmer and also comprised Geoffrey Tapperall and Mark Rayner. The report was commissioned against a backdrop of major microeconomic reforms led by the Keating Government, but slow progress on areas of the economy sheltered from competition as a result of constitutional limits on the application of the Federal Trade Practices Act or of other actions by Federal or state governments. The report thus had important implications for state-owned enterprises, m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microeconomic Reform
Microeconomic reform (or often just economic reform) comprises policies directed to achieve improvements in economic efficiency, either by eliminating or reducing market distortion, distortions in individual sectors of the economy or by reforming economy-wide policies such as tax policy and competition policy with an emphasis on economic efficiency, rather than other goals such as equity (economics), equity or employment growth. "Economic reform" usually refers to deregulation, or at times to reduction in the size of government, to remove distortions caused by regulations or the presence of government, rather than new or increased regulations or government programs to reduce distortions caused by market failure. As such, these reform policies are in the tradition of laissez faire, emphasizing the distortions caused by government, rather than in ordoliberalism, which emphasizes the need for state regulation to maximize efficiency. Microeconomic reform in Australia Microeconomic ref ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopoly
A monopoly (from Greek language, Greek el, μόνος, mónos, single, alone, label=none and el, πωλεῖν, pōleîn, to sell, label=none), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a specific person or company, enterprise is the only supplier of a particular thing. This contrasts with a monopsony which relates to a single entity's control of a Market (economics), market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market. Monopolies are thus characterized by a lack of economic Competition (economics), competition to produce the good (economics), good or Service (economics), service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The verb ''monopolise'' or ''monopolize'' refers to the ''process'' by which a company gains the ability to raise ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopoly (economics)
A monopoly (from Greek el, μόνος, mónos, single, alone, label=none and el, πωλεῖν, pōleîn, to sell, label=none), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a specific person or enterprise is the only supplier of a particular thing. This contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market. Monopolies are thus characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The verb ''monopolise'' or ''monopolize'' refers to the ''process'' by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a business ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microeconomics
Microeconomics is a branch of mainstream economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the national economy as whole, which is studied in macroeconomics. One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses. Microeconomics shows conditions under which free markets lead to desirable allocations. It also analyzes market failure, where markets fail to produce efficient results. While microeconomics focuses on firms and individuals, macroeconomics focuses on the sum total of economic activity, dealing with the issues of growth, inflation, and unemployment and with national policies relating to these issues. Microeconomics also deal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1998 Queensland State Election
Elections were held in the Australian state of Queensland on 13 June 1998 to elect the 89 members of the state's Legislative Assembly. The result of the election was a second consecutive hung parliament, with the Labor Party forming minority government after receiving the support of independent Peter Wellington. This election was the first in which One Nation supporters were elected to state Parliament, with the controversial party winning 11 seats. With nearly 23% of the vote, One Nation gained a higher percentage of the vote than any other third party (i.e. not Labor or Coalition) at the state or territory level since Federation. This was also the only election at which a third party gained more votes than both the Liberal Party and the National Party considered separately. Unlike in previous elections, no attempt was made to calculate the statewide two-party preferred vote (2PP), because the One Nation vote was so high that any 2PP result would have been meaningless. A f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
One Nation (Australia)
Pauline Hanson's One Nation (PHON or ONP), also known as One Nation or One Nation Party, is a right-wing populist political party in Australia. It is led by Pauline Hanson. One Nation had electoral success in the late 1990s, before suffering an extended decline after 2001. Its leaders have been accused, charged, and later acquitted, of fraud, and the party has suffered from numerous defections, resignations and other internal scandals which culminated in Hanson's resignation from the party. One Nation's policies and platform have been much criticized as being racist and xenophobic. Nevertheless, One Nation has had a profound impact on debates on multiculturalism and immigration in Australia. Following Hanson's return as leader and the 2016 federal election, the party gained 4 seats in the Senate, including one for Hanson herself, in Queensland. One Nation was founded in 1997, by member of parliament Pauline Hanson and her advisors David Ettridge and David Oldfield after Ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pauline Hanson
Pauline Lee Hanson (''née'' Seccombe, formerly Zagorski; born 27 May 1954) is an Australian politician who is the founder and leader of One Nation, a right-wing populist political party. Hanson has represented Queensland in the Australian Senate since 2016 Federal Election. Hanson ran a fish and chip shop before entering politics in 1994 as a member of Ipswich City Council in her home state. She joined the Liberal Party of Australia in 1995 and was preselected for the Division of Oxley in Brisbane at the 1996 federal election. She was disendorsed shortly before the election after making contentious comments about Aboriginal Australians, but remained listed as a Liberal on the ballot paper. Hanson won the election and took her seat as an independent, before co-founding One Nation in 1997 and becoming its only MP. She attempted to switch to the Division of Blair at the 1998 federal election but was unsuccessful. Nevertheless, her newly-formed party experienced a surge in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Productivity Commission
The Productivity Commission is the Australian Government's principal review and advisory body on microeconomic policy, regulation and a range of other social and environmental issues. The Productivity Commission was created as an independent authority by the ''Productivity Commission Act 1998'', an Act of the Australian Parliament. The Commission operates within the Treasury portfolio and its core function involves responding to references from the Treasurer, which can request a commissioned study or a public inquiry. References to the Commission stipulate the length and terms of the project and may cover any sector of the Australian economy; address a particular industry or cut across industry boundaries; and involve wider social or environmental issues. Most projects are specified for nine or twelve-month duration, although some may be six or fifteen months. Both studies and inquiries accept submissions from members of the public, although inquiries are additionally require ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Third-party Access
Third party access policies require owners of natural monopoly infrastructure facilities to grant access to those facilities to parties other than their own customers, usually competitors in the provision of the relevant services, on commercial terms comparable to those that would apply in a competitive market In economics, competition is a scenario where different economic firmsThis article follows the general economic convention of referring to all actors as firms; examples in include individuals and brands or divisions within the same (legal) firm .... Australia Third party access policies play an important role in Australia's National Competition Policy, and are applied to "essential infrastructure which cannot be economically duplicated", including gas networks, electricity transmission and distribution grids, water transportation and sewerage networks, telecommunications networks, rail networks, ports, and airports. One complication in Australia is that water is general ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Council Of Australian Governments
The Council of Australian Governments (COAG) was the primary intergovernmental forum in Australia from 1992 to 2020. Comprising the federal government, the governments of the six states and two mainland territories and the Australian Local Government Association, it managed governmental relations within Australia's federal system within the scope of matters of national importance. On 29 May 2020, Prime Minister Scott Morrison announced that COAG would be replaced by a new structure based on the National Cabinet implemented during the COVID-19 pandemic. History COAG grew out of the Premiers' Conferences, which had been held for many decades. These were limited to the premiers of the six states and the Prime Minister. A related organisation is the Loan Council, which coordinates borrowing by the federal and state and territorial governments of Australia. COAG was established in May 1992 after agreement by the then Prime Minister (Paul Keating), premiers and chief minister ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of Australia
The prime minister of Australia is the head of government of the Commonwealth of Australia. The prime minister heads the executive branch of the Australian Government, federal government of Australia and is also accountable to Parliament of Australia, federal parliament under the principles of responsible government. The current prime minister is Anthony Albanese of the Australian Labor Party, who became prime minister on 23 May 2022. Formally appointed by the Governor-General of Australia, governor-general, the role and duties of the prime minister are not described by the Constitution of Australia, Australian constitution but rather defined by Constitutional convention (political custom), constitutional convention deriving from the Westminster system. To become prime minister, a politician should be able to Confidence and supply, command the confidence of the House of Representatives (Australia), House of Representatives. As such, the prime minister is typically the leader o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Democrats
The Australian Democrats is a centrist political party in Australia. Founded in 1977 from a merger of the Australia Party and the New Liberal Movement, both of which were descended from Liberal Party dissenting splinter groups, it was Australia's largest minor party from its formation in 1977 through to 2004 and frequently held the balance of power in the Senate during that time. The Democrats' inaugural leader was Don Chipp, a former Liberal cabinet minister, who famously promised to "keep the bastards honest". At the 1977 federal election, the Democrats polled 11.1 percent of the Senate vote and secured two seats. The party would retain a presence in the Senate for the next 30 years, at its peak (between 1999 and 2002) holding nine out of 76 seats, though never securing a seat in the lower house. Due to the party's numbers in the Senate, both Liberal and Labor governments required the assistance of the Democrats to pass contentious legislation. Ideologically, the Democrats w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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