Surely history speaks loudly to not repeat the mistakes of the past (ODT)
Reaganomics and Thatcherism were characterised by huge transfers of income and wealth from the poor to the rich, writes Roger Beale. Even such august institutions as the Productivity Commission argue that there’s little to be gained by going down the road of labour market flexibility.
Treasurer Josh Frydenberg has suggested we look to the Reagan and Thatcher legacies for inspiration to climb out of the Covid-19 recession – i.e. supply side economice. In lay terms, this means bringing forward tax cuts, increasing workplace flexibility and reducing green tape.