INTRODUCTION I have had the privilege to be Geoff's colleague for the past fifteen years at Jesus College, Cambridge. I have had the benefit of many discussions with him upon the issues touched upon in this short paper. His own work has been consistently characterized by an attempt to affect the 'real world'. This applies not just to writing both 'applied economics' as well as 'economic theory', but also to his lifelong involvement in the real world outside academia, including the struggle against the Vietnam War, working for the Howard League for Penal Reform, advising the Australian Labor Party and tirelessly giving public speeches and broadcasting (I first heard him speaking on the radio in Australia in 1976 in 'Notes from the News'). I am delighted to be able to offer this small token of appreciation of all that he has done through his work to attempt to make the world a better place for everyone to live in.