construction industry economy

As entire industries are shuttered and hundreds of thousands of people find themselves out of a job, the government won't even think about a change in its economic strategy, for bureaucratic and -- seemingly -- ideological reasons.

The combined approach of the government and the RBA to the economic side of the crisis has three parts: prop up demand by pumping money to people likely to spend it; expand the safety net governments have been assiduously shrinking for jobseekers in recent decades, which will help with the first part; and try to keep small and medium companies going through a combination of much cheaper, much more easily available and partly guaranteed lending and a small amount of cash based on the size of the payroll.

But the balance of the third part -- with a $100 billion-plus provided for lending but only around $32 billion in cash for business -- is badly askew and needs to be reversed.