Economic impact and market forces with Jeremy Thorpe

What role does economics play in the cultural and creative industries?
Tandi is joined by PwC’s Chief Economist Jeremy Thorpe for a frank chat about policy and funding. During this episode we cover topics such as how cost-benefit analysis assists with decision making, how economists measure benefit, what “lobbynomics” is, and the power of specialisation in a technology-driven world.
The discussion covers:

• How cost benefit analysis differs from impact analysis and why cost benefit analysis helps people make better decisions
• Why economics the best way for Treasuries to measure benefit compared to social research or qualitative research
• “Lobbynomics” and how economic analysis is used in lobbying and advocacy to recast an organisation’s narrative
• Why technology is now at the core of every challenge
• How to appeal to the bureaucratic heart and the political heart in order to advocate effectively
• What the current constrained economic environment means for the arts
• Why consumer demand for experiences rather than material goods has affected the market
• How a more globalised world can result in government choosing to consolidate funding in the culture and creative sector
• The power of specilisation in showing defined value and how that can assist with funding.

Jeremy Thorpe is PwC's Chief Economist in Australia and a Partner in its national Economics & Policy team.
With more than two decades of experience, Jeremy’s experience spans a range of diverse area including: cost-benefit analysis, the valuation of the economic contributions of companies, industries, not-for-profits and specific activities, the economics of copyright and reviews of government programs and regulatory changes.
Jeremy also serves on the board of Flourish Australia. Flourish Australia works in local communities to help people on their mental health recovery journey.
Previously, Jeremy was the Chairman of the not-for-profit, Viscopy. For a decade he was also Director of a leading Australian-owned consulting firm. Prior to this, Jeremy was economist with Australia’s Department of Treasury and the Productivity Commission.
https://www.linkedin.com/in/jeremythorpe
For more details, including the full transcript of the conversation, you can head to the episode webpage: https://www.thepatternmakers.com.au/podcast-episodes/episode3
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