Free Worldwide Shipping

Shop over 1 Million Toys in our Huge New Range

The Failure of Free-market Economics
By

Rating
The basic concept behind free-market economics was simple and seductive: the government should not attempt to pick winners by granting assistance to specific industries, and it should only intervene in the market in circumstances where there has been a substantial market failure. The only trouble with this theory - as the global economic disaster has shown - is that it is based on ideology, not evidence, and that it can't withstand contact with reality. For decades, Australia has been an enthusiastic adopter of this approach. The consequences - such as mass privatisations, tariff reforms, and flexible wages and conditions - have been lauded by the booming financial sector and the political class. Unnoticed in the hubbub, though, has been the annihilation of the manufacturing sector - which has resulted in 20 years of monthly current-account deficits, a foreign debt approaching $650 billion, and an economy dominated by footloose capital and tax-averse multinationals. Despite propaganda to the contrary, employment in Australia is now increasingly characterised by low-paid and insecure jobs in service, logistics, and retail industries. The Failure of Free-Market Economics explains how the triumph of a fundamentally flawed economic orthodoxy has weakened the Australian economy and now threatens our future. It also offers a range of practical reforms that the author argues are essential and urgent. This is a unique perspective from an expert who started his career inside the free-market establishment and has ended up as a 'true unbeliever' in its ideas.
Product Details

About the Author

Authors Bio, not available

Reviews

'... an illuminating publication that deals with some very important current issues that are of relevance to all in our society.'--Dan O'Gorman SC "Hearsay "

Look for similar items by category
Item ships from and is sold by Fishpond.com, Inc.
Back to top