are howard's economic credentials so great or is he just lucky? (1 Viewer)

[menelaus]

i keep hearing that the reason why the coalition is in government is because of their excellent economic credentials when compared to labour. but i can't help but thinking that just as menzies was "riding on the sheep's back" howard is riding on the back of this commodities boom.

is this rate of economic growth a testament to the coalition's economic prowess, or is it just a coincidence that the economies of china and japan started to demand more of our resources? one of the key areas that caused me to question the coalition's economic management skills was productivity. the coalition's answer to raising productivity was work choices, yet they have done little to address the growing skills shortage.

in terms of macroeconomic policy, both are very similar in their approach to fiscal and monetary policy, by the rba's own admission. so, is the coalition's economic superiority over the alp genuine, or is it due to the economic problems labour last had when in government?

 

[54247]

I actually think that it was for ALP's "recession we had to have" which haas partially provided the current boost Howard is riding... and yes the coincidence with Japan and China

 

[frog12986]

The continuation of workplace deregulation, tax reform (which is often understated) and responsible fiscal management hae been tantamount to the economic stability since the Coalition came to office. Sure the commodities boom has played a part, however it is the sustainability of this growth which has been the challenge that has been successfully undertaken.

The most explicit factor has been macroecnomic responsibility, which has not only ensured greater economic stability, but has also facilitated the continued growth of the resources sector in the face of continued demand. The capability of business to invest and grow has undoubtedly been a central issue in the ability of the economy to respond to the demands placed upon it.

It seems to me that the electorate is becoming slightly complacent in relation to economic management and is perceiving it to be a given. Give or take an inch, and the stability that has been experienced over the last 13 years could be easily eroded..

 

[bshoc]

The continuation of workplace deregulation, tax reform (which is often understated) and responsible fiscal management hae been tantamount to the economic stability since the Coalition came to office. Sure the commodities boom has played a part, however it is the sustainability of this growth which has been the challenge that has been successfully undertaken.

The most explicit factor has been macroecnomic responsibility, which has not only ensured greater economic stability, but has also facilitated the continued growth of the resources sector in the face of continued demand. The capability of business to invest and grow has undoubtedly been a central issue in the ability of the economy to respond to the demands placed upon it.

It seems to me that the electorate is becoming slightly complacent in relation to economic management and is perceiving it to be a given. Give or take an inch, and the stability that has been experienced over the last 13 years could be easily eroded..

Bingo, its not like Labor doesen't know that the GST or workplace reform is net beneficial to the Australian economy, I'm sure they hire economists, however a party with such a base and based around brainless populism could never hope to implement most necessary reforms, this is where the Libs are different.

 

[bshoc]

Paul Keating

[/thread]

Tried to push necessary economic reforms through the leftie party and paid the price, thats all there is to say about Keating.

 

[ihavenothing]

exactly - economic opportunism

Lets not forgot how interest rates nudged 22% when he was treasurer under Fraser

 

[frog12986]

exactly - economic opportunism

Lets not forgot how interest rates nudged 22% when he was treasurer under Fraser

Fraser had a vastly different view on the economic direction of the country to Howard. Howard's support of the ALP reforms of the 1980's are testament to this fact.

 

[bshoc]

exactly - economic opportunism

Lets not forgot how interest rates nudged 22% when he was treasurer under Fraser

Yes on the back of the ARAB OIL CRISIS ....

 

[volition]

Howards economics credentials are probably better than Rudd's I don't like where Rudd's "education revolution" is headed.

The workplace deregulation is a step in the right direction for economically sound decision making. I'd have to go with the economic stability being more related to the nation management than the times we're experiencing now.

 

[ZabZu]

I actually think that it was for ALP's "recession we had to have" which haas partially provided the current boost Howard is riding... and yes the coincidence with Japan and China

I agree. Inflation dropped significantly after the 1991 recession and from the mid 90s there was decent economic growth. This growth continued when Howard came to power.

Compared to centre-left parties in Europe the ALP has conservative economic policies. This is a trend in countries with Anglo heritage such as the UK and US. The Democrats and the British labour party both adopt neoliberal economic policies. I believe the ALP can manage the economy responsibly as long as Labors left wing doesnt dominate economic policy.

The Coalition is a better economic manager, except they havent done enough to protect the environment and low-paid workers.

 

[HotShot]

Labor just look at NSW? pathetic.

 

[mr EaZy]

my economics lecturer says that howard didnt relieve australia of its foreign debt- it just transferred it to the public sector

i think NSW labor needs a shake up- lets start with the premier and his electorate

 

[menelaus]

my economics lecturer says that howard didnt relieve australia of its foreign debt- it just transferred it to the public sector

howard only got rid of governement debt. i think that net foreign debt fromt he public is still something like 55% of GDP.

 

[mr EaZy]

i think she was more referring to how the govt was selling government assets and how investors will have to take up that foreign risk- so your right anyhow, govt debt has been reduced- but as a result of those asset sales, national debt remains the same

 

[bshoc]

i think she was more referring to how the govt was selling government assets and how investors will have to take up that foreign risk- so your right anyhow, govt debt has been reduced- but as a result of those asset sales, national debt remains the same

Neither type of debt is bad if it can be financed, afterall debt = more things coming in than going out, for example if international trade completely halted tommorow those countries who are in debt would be relitively better off.

 

[ihavenothing]

He has ridden the wave of success off the 1987 recession and is likely to ride it back out again just to empower the Libs chance at the next election, as long as their candidate is not Costello.

 

[bshoc]

He has ridden the wave of success off the 1987 recession and is likely to ride it back out again just to empower the Libs chance at the next election, as long as their candidate is not Costello.

"Waves of success" do not radiate from recessions. Howard has made his own success, and is the best thing that has happned to the Australian economy since the demise of Labor.

 

[ihavenothing]

Hewson could have done it and we would not be in such a mess today with Iraq, etc. , he would have gone much better if he wasn't lacking policies in other areas and he didn't do that ghastly Birthday Cake interview.

 

[cowface]

"Waves of success" do not radiate from recessions. Howard has made his own success, and is the best thing that has happned to the Australian economy since the demise of Labor.

No, China's demand for resources is the best thing that ever happened to our economy.

 

[S1M0]

No, China's demand for resources is the best thing that ever happened to our economy.

True, its a major boom to our own economy.