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A Maggie Thatcher needed to sort out the mess : Comments
By Paul Kerin, published 12/5/2009The Rudd Government's early complacency, which soon morphed into panic, will destroy voters' faith in its economic management credentials.
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I have never been a fan of Thatcher, or her Guru, Hayek. That isn't to say the Austrian school has nothing to contribute.
The true causes of the massive inflation we have endured to cause the current crisis are not unionism or high wages, but simply too much money in the system; largely due to borrowed monies through the fractional reserve banking system, and...
All the proponents of 'small government' are right, but I think they miss the core point.
The other major cause of inflation is too many people for the goods produced.
Where once the accepted wisdom was 'for one in the office, 7 producing on the workshop floor', now every genuine producer in this country has to carry 7 in the office. Successive governments have done nothing to reduce the bureaucracy; they have merely outsourced the bureaucrats and in so doing, cost the Australian people some valuable cash cows.
We still have virtually no manufacturing industry, our primary producers are still hammered by drought, and our minerals exports are too reliant on fickle markets.
Time to dump this globalisation nonsense, and concentrate on being self reliant. A healthy economy uses the international market as a dumping ground, for surpluses.
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