AUSTRALIA IS entering treacherous waters. After more than a quarter-century of economic growth, the country has now gone into recession. And not just any recession — the deepest downturn since the Great Depression of the 1930s. The recession brings many self-evident problems, from high rates of unemployment to widespread business failures. But there is a less obvious danger that we overlook at our peril — the role of vested interests in the economic recovery.

Recession: With recovery comes hidden risk