Foyle
You are ignoring the fact that I have totally demolished your economic theory many times over. If you want, I'll do it again just so everyone can see that you can't defend it without relying on one of the following logical fallacies:
- appeal to absent authority
- assuming what is in issue
- misrepresentation
- ad hominem
in fact, the standard arsenal of all left-wing and statist thinking, without which the entire edifice crumbles into mere excuses for parasitic behaviour.

You can start by telling us by what rational criterion you know whether governmental provision of any given service is too much, too little, or just the right amount?

The whole premise of modern economics need change else we'll see more GFC's that will be far worse. The world can not grow exponentially for ever. Everything has it's limits. There is only so much ore in the ground. This mixed with a throw away society is a disaster waiting to happen.
The new paradigm must be based on sustainability. Instead of throw away products start to make products that can be repaired. This will start a whole new industry of spare parts plus skilled people to repair them. The initial product will cost more but you will have a product that will last. This will start to bring down costs in other areas. For example a roofer would not have quote with replacement drills in each job. Mechanics would have more work so you will eventually see companies that will specialize in pure maintenance work and others purely specializing in full on repair. Then specialize further with say gearbox repair. As the sciences become more and more complex we have to start to specialize more and more. Communicating with one another in groups, not relying on individuals. Creating more jobs for the people and more revenue for Governments and much less landfill. As an aside, did you know at the moment there is more base plastic (plastic is naturally produced as a small sphere and will return to it) is some oceans then krill. The first step in ocean's food chain. We also need to put a muzzle on unfettered greed. Which should be looked at as an undesirable human trait. It served a purpose while we where in caves. It stifles modern economies and technologies. Those that posses technology thus power try to keep the opposing technologies stifled so they can keep there power. Look at the patent war's in electronics. Pythagoras didn't study mathematics based on greed. He made nothing from his theorem. He did it simply because he though he could thus should, a desire for knowledge. A desirable human trait, we are supposed to be civilized now. Perhaps we need to act like it!

We certainly face an “uncertain future” but not for any of the reasons you are spruiking.
Energy and other finite resources are what is limiting “ever increasing living standards”
Australia and the rest of the world have far too many people and it will be increasingly difficult to supply even the most basic living standards.
Australia should lead the way and can all immigration from any source, stop building road tunnels, desalination plants and second airports.
An ageing population can still be productive, people can easily work until they are seventy in most occupations. All the currently employed construction workers can migrate to other activities as we would not need all the additional infrastructure, new housing etc.
I presume somebody has paid you to write all that stuff?

If you put a pair of rats in a twenty foot shipping container, filled as much food as you can, shut the door and left it for a period of time, what do you think the result would be when you eventually opened it?
I don't think that any of the corporations, economists, bank managers and politicians would understand why their was nothing but bones left.
Think bigger like the size of the world and even the doomsday cult of the Church of Climatology, could not be blamed for the result.
The doomsday cult of overpopulation would kick in and that will be the end of everything that we hold to be "not negotiable".

Add to the age problem the tens of thousands of economic invaders who taxpayers have to support and the blowout NDIS scheme which will require over 200,000 unproductive workers to keep it going, it will be an interesting future for Australia. I pity the Taxpayers of the future.

Foyle
Are you now telling us that Kevvy did not save us from the GFC but from Howard and Costello's economic mismanagement?

I thought only the warmist alarmists and the fellow who lives in france and tells us how good things are in Aust, under the magnificant labor economic managers, were the only comedians on olo.