Australia is sleepwalking to stagnant living standards unless we adopt an agenda that restrains government and allows the private sector to flourish, writes John Kehoe. As Australia grapples with a stagnant private sector, sticky inflation and declining living standards, it is obvious the economic model of the past 15 years is not working.
Labor’s answer is bigger government and government-influenced resource allocation, under Treasurer Jim Chalmers’ values-based capitalism. This will slowly strangle the economy’s dynamism and productivity. But there is a better way.
Source: https://www.afr.com/policy/economy/australia-needs-a-dose-of-javier-milei-s-argentine-capitalism-20241210-p5kx6u