The ConversationBy Matthew Bailes. I love the free market. It means my morning cup of coffee costs roughly the same at almost all the coffee shops near campus.
The free market is however ruthlessly efficient, even if it is largely responsible for the high standard of living we share in Australia. It means fortunes are made and lost, and has Darwinian consequences for inefficient players. When monopolies exist, the profits can be obscene.
In the 2014 Australian federal budget, plans were announced to bring the full power of the free market to the Australian higher education sector. More...