Stutchbury debases Hawke and Keating

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The AFR continues to rot from the head as Editor Michael Stutchbury today debases the legacy of Bob Hawke and Paul Keating:

Under Bob Hawke and Paul Keating in the 1980s, Labor’s wage “Accord” with the unions deliberately cut real wages to restore the profit share of national income, stimulate business investment and promote job growth.

…Labor’s mostly orthodox – some would call neo-liberal – policies such as free trade and privatisation set up Australia for two decades of unprecedented prosperity from the early 1990s. Australian workers prospered from globalisation.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.