THe merry go round economics

The merry-go-round goes round and round …*

The March 11 issue of the Melbourne Age informed us that a spokesman for the tourist industry announced that the industry could not survive without a wage subsidy.

Well, well. What immediately came back to me from the distant past was how history so readily turns back on itself. It is now some 40 years since the Hawke/Keating government decided, somewhat precipitately, that maintaining protection of our manufacturing industries equated with economic insanity.[vc_column_text…

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