am frequently asked why free-market thinking in Australia doesn’t seem to be
making any headway against the statist thinking. Needless to say, these people
also expressed considerable disappointment in Tony Abbott’s economic record,
which brings me to the right-wing’s sorry record. No serious scientist ever
disconnects from first principles, and the same should go for economists.
Unfortunately, first principles are something that our self-appointed advocates
of the free market seem incapable of applying, particularly when it comes to
the pricing of labour. And this is why, after more than 30 years of
intellectual grandstanding, they have failed dismally to persuade the great
majority of Australians that the effective minimum wage destroys
jobs.....To Read More....