April 05, 2013 07:31 AM CDT
From Alex Tabarrok, at Marginal Revolution:
Australia farmers pay for water at market prices. Water rights are traded and government water suppliers have either been privatized or put on a more stand-alone basis so that subsidies are minimized or at least made transparent.
Australia has one of the largest private school sectors in the developed world with some 40% of students in privately-run schools.
Australia has a balanced-budget principle (balanced over the business cycle) which has been effective although perhaps more important has been a widely held aversion to deficits combined with an understanding of sustainability and intergenerational fairness (factors which also played a role in the decision to create private, pre-funded pensions).
If things go badly in the USA, I may have to head for Australia. (The scenery's nice too.)