by Summary:
Since the 1980s there has been massive privatisation and outsourcing of Australia’s utilities and infrastructure, such as public transport, power generation, tollways, communications, information technology, airlines, ports and water. It was driven by an ideology which venerated the market and the profit motive, yet never enjoyed public support. What is the balance sheet of 40 years of privatisation in Australia? What is the way forward? The trend to privatisation has been worldwide. How did this happen? Can we change direction? What are the alternatives? John Quiggin is a Professor of Economics at The University of Queensland. He has has written extensively on privatisation and his most recent book is Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly,
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Since the 1980s there has been massive privatisation and outsourcing of Australia’s utilities and infrastructure, such as public transport, power generation, tollways, communications, information technology, airlines, ports and water. It was driven by an ideology which venerated the market and the profit motive, yet never enjoyed public support. What is the balance sheet of 40 years of privatisation in Australia? What is the way forward? The trend to privatisation has been worldwide. How did this happen? Can we change direction? What are the alternatives? John Quiggin is a Professor of Economics at The University of Queensland. He has has written extensively on privatisation and his most recent book is Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly,
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John Quiggin considers the following as important:
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| Since the 1980s there has been massive privatisation and outsourcing of Australia’s utilities and infrastructure, such as public transport, power generation, tollways, communications, information technology, airlines, ports and water. It was driven by an ideology which venerated the market and the profit motive, yet never enjoyed public support. What is the balance sheet of 40 years of privatisation in Australia? What is the way forward? The trend to privatisation has been worldwide. How did this happen? Can we change direction? What are the alternatives? John Quiggin is a Professor of Economics at The University of Queensland. He has has written extensively on privatisation and his most recent book is Economics in Two Lessons: Why Markets Work So Well, and Why They Can Fail So Badly, published in 2019. He was formerly an Australian Research Council Laureate Fellow and Federation Fellow and a Member of the Board of the Climate Change Authority of the Australian Government. John is also a regular contributor to media publications such as The Guardian, The Conversation and The Sydney Morning Herald and the Australian Financial Review. David Richardson is Senior Research Fellow at The Australia Institute. He has taught economics at University of New England and the University of Western Australia. His research interests include macroeconomics and international economics. He is author of 'The Costs of Market Experiments: Electricity Consumers Pay the Price for Competition, Privatisation, Corporatisation and Marketisation'. |