Henry Thornton writes:
The bottom line is that this is an attack on the monopoly power of the union
movement, which is why comments by the unions and the ALP are so shrill. This
power has been severely eroded in recent years, and with a booming labor market,
this is the best time to introduce further moves in the same direction.
My judgment is that this package can increase the sustainable growth of the
Australian economy by perhaps one half of one percent and allow at least a
further 1% fall in the rate of unemployment. But I cannot prove this – the
proof of this pudding will come only with the eating.
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