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Less ideology, more economics : Comments
By David Hetherington, published 14/4/2009We should not reject outright the economic liberalisation that has delivered Australia such remarkable prosperity.
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Posted by slasher, Tuesday, 14 April 2009 9:16:08 PM
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Whilst we pursue deregulation as a blind religious faith without debating the fundamental paradigm we will only row the boat closer to the waterfall.
Speculation on currency movements is diverting capital from productive investments.
Companies diverting capital to hedge their trading positions is the cost of currency deregulation. Ask the Farmers in Australia sucked into foreign loans in the 80s, homeowners in Poland who have been sucked into loans in Swiss Francs and ask the shareholders of Pasminco which collapsed because of hedging errors.