Weird OECD create your own economy competition

In principle, I think it’s a good idea that the OECD is reaching out to young people to get them interested in economic policy issues, but this video competition strikes me as weird:

Think differently: How would you shape tomorrow’s global economy?

The worst financial, economic and social crisis of our lifetime led to widespread condemnation of “business as usual” and calls to revisit, rethink and test new approaches to economic and societal challenges.

Are today’s economic models sufficient? What needs to be done to build a sustainable future?

If you’re between 18-25, make a three-minute video laying out your vision on future economic models and how would you shape tomorrow’s global economy.

The winners will gain a trip to Paris during OECD Week in May 2013.

We don’t need radical ideas to reform our economies. We just need to get the basics like free trade and financial market regulation right. The OECD shouldn’t waste time on silly competitions like this and should instead spend time improving its arguments and evidence base for policies such as cutting European farm subsidies and tightening up the regulation of financial derivatives.

Finally, in public policy debates, there is no substitute for clear logic supported by compelling data. Thankfully the ABS is doing a great job in disseminating data to Australians, and I applaud its new iPhone app:

ABS Mobile

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