Ideal tax reforms are easy to talk about but voters will be suspicious of government offers of compensation.

In optimisation theory, it's called a non-feasible solution space: the tax reform debate is imposing so many binding constraints on an acceptable package that none are achievable.

Global pollution targets can't be met without big use of electric vehicles. But they will need substantial incentives to get to that point.

When a resource-rich country like Australia adjusts to the end of a once-in-a-century mining boom, it can choose either a smooth or a bumpy path.  Australia has a foot on both paths. Soon we must choose between them.

In recent public discourse about trade agreements the initials PC have taken on dual meanings – political correctness and the Productivity Commission. It is simply not politically correct these days to criticise any aspect of a trade agreement. Anyone with the temerity to question a clause in an agreement is branded anti-trade or worse, a racist peddling xenophobia

By inviting the key participants in the National Reform Summit to a meeting on Thursday, Turnbull is signaling a new philosophical approach to the task of government.

When speaking of productivity growth and workforce participation, economists argue that the low-hanging fruit was picked in the 1980s and 1990s. They are wrong. In front of their eyes is an orchard full of unpicked fruit: preventative programs for chronic diseases and mental health. These have for too long been consigned to the social policy basket. 

There are no silver bullets in tax reform. It's a long slog of balancing the pros and cons across the system.

Reform The National Reform Summit did not create all-round agreement. But it started a mutual understanding essential to compromises and reforms in the future.
 

This week’s National Reform Summit produced a 17-page statement agreed by major business groups, organised labour, civil society groups, seniors groups and a representative youth organisation. Some have asked how this was possible. The answer in one word is: trust. 

The Abbott government has cranked up rhetoric and 'xenophobia and racism' as it defends its China FTA. But there are better ways of securing this crucial deal that all sides can agree upon.

The major organisations participating in the National Reform Summit agree that vested interests should not be allowed to override the national interest. Next Wednesday’s meeting can be a start to recapturing the reform zeal of the 1980s that led to almost a quarter century of growth and prosperity.

Economic policy The Coalition might be the party of business but its likely treatment of the Harper review shows that it can always be relied upon to put support for vested interests ahead of a proper economic outcome.

The success of the National Reform Summit depends on sticking to core players and economic issues, and putting results ahead of broad participation.

Earlier in the year this column argued the need for a National Reform Summit to help bridge the political divide in Canberra by finding common ground on a new economic reform program.

Whose side are you on?

Ultimately, the public judges political leaders not by the words they say but by the values they convey.

Last week's national accounts that embarrassed the clowns warning of dark clouds on the horizon actually revealed continued falls in living standards and declining productivity growth. Yet as far as Treasurer Hockey is concerned, this "terrific set of numbers" confirms all is well in Rainbow Land.