British and European influences on the "Australian Way" from the 1980s

Commonwealth countries share their British social policy legacy in a variety of ways. Autstralia attempted to adopt the postwar new Fabian welfare state model at the very time when international economic circumstances undermined its Keynesian foundation. With Labor governments in power from 1983 to 1996, Australia diverged significantly from the neo-liberal reform path adopted in the United Kingdom. Australian governments looked increasingly to European social democracies for alternative social policy model In a manner anticipating the Third Way. the tendency was towards mixing neo-liberal economics with social democratic welfare. The Australian Third Way which resulted proved unstable. Current social reformers, the paper proposes, ought to revisit a neglected but characteristically British emphasis on the need for a measure of socialization of investment to underpin redistributive strategies.

Efficiency effects of agricultural economics research in the United States

Allocations of research funds across programs are often made for efficiency reasons. Social science research is shown to have small, lagged but significant effects on U.S. agricultural efficiency when public agricultural R&D and extension are simultaneously taken into account. Farm management and marketing research variables are used to explain variations in estimates of allocative and technical efficiency using a Bayesian approach that incorporates stylized facts concerning lagged research impacts in a way that is less restrictive than popular polynomial distributed lags. Results are reported in terms of means and standard deviations of estimated probability distributions of parameters and long-run total multipliers. Extension is estimated to have a greater impact on both allocative and technical efficiency than either R&D or social science research.