Economic Rationalism

After the indignity of having its then leader declare himself an ideological social democrat in a culture magazine, it’s the idea that dare not speak its name. Lost in the wilderness for so many years, the Gillard government might finally be accepting its inheritance as the party of economic rationalism and reform.

But it’s early days and Labor might just be teasing.

Labor’s decision to fundamentally change its trade policy is its most promising economic policy in a generation. In a recent address to the Lowy Institute, Trade Minister Craig Emerson indicated that the government will unilaterally cut Australia’s remaining industry tariffs, separate trade policy from international politics and only pursue trade agreements that have an economic upside.

Continue reading "Labor’s big grab for the economic right" »