Terry McCrann: “Abandon the Big Australia population Ponzi”

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Over the weekend, Terry McCrann called for the mass immigration ‘Big Australia’ Ponzi scheme to be abolished once and for all:

Abandoning the ‘Big Australia’ population Ponzi that has been — chaotically — the foundation of our economic policy framework for the past 20 or so years and which has not only substituted for the productivity growth that is the only basis of real national advance and wealth improvement but has worked to actively undermine it.

Does any sentient person really believe that a prosperous future lies in pouring more and more people into Melbourne and Sydney, building more and more high-rise apartment buildings, and then requiring more and more infrastructure from roads and rail to hospitals and schools just to try to catch up?

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.