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Nobel Laureate Professor Joseph Stiglitz will give a keynote address to mark the launch of a new book at Crawford School.
Professor Stiglitz is one of the editors of the book, Income contingent loans: theory, practice and prospects, along with Crawford School’s Professor Bruce Chapman and Dr Tim Higgins of the ANU College of Business and Economics.
The Australian Higher Education Scheme (HECS), which was designed by Professor Chapman, was the world’s first national income contingent loan collected through the tax system, and is a university funding mechanism which has since been adopted in eight other countries.
The book will be launched by ANU Vice-Chancellor Professor Ian Young. As part of the launch, Professor Stiglitz will give a keynote address on the significance and potential of governments using income contingent loans.
Chapman said that the book explains the basic theory of income contingent loans, and explores potential uses for them beyond the education system.
“Other potential applications for income contingent loans include paid parental leave, health services, aged care, legal aid and compensation for brain drain,” he said.
“The book explores these and looks at what is needed to ensure a successful adoption of income contingent loans in each of those areas.”
The book launch takes place on Wednesday 2 July from 10am – 12pm. Tickets for the launch are strictly limited. To register go to: www.iclpubliclecture.eventbrite.com.au