The hubris of the economic reason was its failure to admit that the market had failed in the recession of the 1990s and that the government was obliged to mop up the mess that had been created.
Nope. The recession was a process of cleansing: Australia would come out of leaner and meaner and more efficient. The recession was de-spiving the economy; a cleansing of the nation's arteries.
Posted by Gary Sauer-Thompson at March 22, 2004 10:04 PM | TrackBack