Australia will run an overt command economy by 2040 (opens in new tab)

Australia’s Fiscal Point of No Return Last September I wrote about Australian economic stagnation — how taxation past the Laffer curve’s point of peak growth, zero public sector productivity improvement since 2001, and the systematic eradication of manufacturing and ICT from the economy have combined to produce economic stagnation and flatlining living standards. The NDIS and similar social spending were the only parts of the economy “growing,” but because this spending is not cumulatively ge...