The dying Swan: but not the ballet

The Treasurer is really out of his depth 

Henry Ergas has again managed a sober analysis, this time of where Wayne Swan has gone wrong, why his piece in The Monthly is misplaced envy, and how it raises in the reader’s mind why a man with such a profound misunderstanding of how an economy works can be running the Treasury of our country.

No government has done more than Gillard and Swan’s to undermine longstanding public processes of policy assessment, while making backroom deals central to its modus operandi. Nor has any government done more to entrench the narrow interest group on which it relies, the unions, or been as unaccountable in dispensing taxpayers’ money to its favoured constituents.

That, not Rinehart’s wealth, is the danger our democracy faces. For Rinehart’s wealth is exposed to the disciplines and vicissitudes of world markets; poor governance, in contrast, is perpetuated by the coercive powers of the state.

2 Responses to “The dying Swan: but not the ballet”

  1. john singer Says:

    Our economy is taking a swan dive into the sea of ruin. China has been stockpiling copper and probably every other import from Australia, so expect a ‘Woolworths-like’ renegotiation of price.

  2. FatherJon Says:

    Is this the world’s greatest treasurer we’re discussing? I thought the Aussie economy was running itself well enough without any kind of human intervention, apart from Chinese remittances of course!

    Sister Bob is also threatening to hand in his ‘living national treasure’ award to whomever labelled him that!!! Who did in fact???

    So, it’s ‘treasurer’ and ‘treasure’ who are pissed off today. What’s real news?

    I would have thought it was even more hilarious to hear Bob Carr suddenly knuckle down in his new role as Foreign Minister, by withdrawing his condemnation of the Libyan intervention.

    The things they’ll do for another slice of cake. Once a politician………….hmmm.


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