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OverviewThe 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. Full Product DetailsAuthor: Martin Feil , John SpoonerPublisher: Scribe Publications Imprint: Scribe Publications ISBN: 9781921215544ISBN 10: 1921215542 Pages: 288 Publication Date: 29 March 2010 Format: Paperback Publisher's Status: Active Availability: In stock with our local or international supplier.  We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately. Table of ContentsReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |
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