catallaxy files

catallaxy in technical exile

That was then, this is now

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The Treasurer of the time, Paul Keating spoke year after year, of the ‘beautiful trend upwards’ that was about to appear. It never appeared. … As a result, the nation witnessed before its eyes the black cloud of economic rationalism casting its pall over the economy and its future. …. Keating dominated Cabinet and kept other Ministers who had doubts about the direction of policy subdued. … The cost of economic rationalism, at the end of the day, is the 1990s permanent recession.

La Trobe University academic John Carroll in Shutdown: The Failure of Economic Rationalism and How to Rescue Australia, 1992.

There is no dispute that the Howard Government has managed the economy successfully, and that this has been the primary reason for its electoral success. However, it has done little more than continue the policies introduced in the Hawke-Keating years. The Labor prime ministers should receive the credit.

La Trobe University academic John Carroll, The Age, 2 March 2006.


Written by Admin

March 2, 2006 at 6:14 am

Posted in Uncategorized

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