Why governments should never have a ‘jobs plan’
As long-time readers will know, my favourite economic commentator is Ross Gittins from Fairfax Media. Gittins writes about the economy without fear or favour and speaks a vast amount of sense amongst the nonsense being spouted by people who should know better.
If you want to know in which particular industries or occupations the government plans to ensure new jobs are created – which winners the government has picked – the answer is: none. It’s leaving the market to determine all that.’
So what should the Government, any government, actually DO according to Gittins?One is to borrow as much as necessary to provide our businesses with adequate public infrastructure and ensure existing infrastructure is used efficiently through such things as appropriate pricing.