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Opinion
by Paul Williams
Premium Content
A quiet revolution is unfolding in Australia s economy, but few are aware of it.
On May 11, Treasurer Josh Frydenberg will rewrite many of the economic orthodoxies the Coalition and Labor have championed for almost four decades.
Before the economic reforms of Labor s Bob Hawke and Paul Keating, 1970s Australia - like much of the Western world - battled high unemployment and inflation with higher taxes and big spending.
But next Tuesday, after nearly 40 years of that mantra, the idea that small government alone can fix economic problems will be sorely tested.
In next week s Federal Budget, Frydenberg (if not quite performing a 180-degree turn) will at least point us toward a Keynesian world for the first time since Kevin Rudd s global financial crisis response - itself a temporary aberration rather than a new way. ....

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