(Image: AAP/James Ross)

If 2020 was and remains a miserable year, economically there are more bright spots than we might have had any right to expect six months ago. And that's down to Australian governments, and Australians themselves.

To their lasting credit, Scott Morrison and Josh Frydenberg, after some initial hesitation, embraced what should be called the Henry Doctrine of responding to an economic threat: go hard, go early, go households. They jettisoned the Coalition's ideological obsession with fiscal rectitude and a decade of denouncing Labor's enormously successful response to the financial crisis.

Yes, there was a particular Liberal spin to their response, much of which was delivered to households via businesses in the form of Jobkeeper. Plenty of businesses took advantage of that to reward executives and shareholders. But households received direct support with a boost to the JobSeeker allowance, which the government unwisely curbed as unemployment peaked and began to decline.