Discuss the leaders of national economies

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Discuss the leaders of national economies​


At a time when the recent budget from Treasurer Joe Hockey is being seen as unfair by the general population and is also facing problems passing through the Senate, the issue of economic leadership is brought into sharp focus by Stephen Koukoulas.

Economic leadership is about making the hard policy decisions (meaning unpopular with the electorate) that are for the good of the country, even if it means taking something away from those with a vested interest. Part of that inevitably involves our political leaders educating the electorate as to why such policy changes are good for the country and inevitably, in their own best interest in the longer run.


A few examples of powerful economic leadership spring to mind. Cutting tariffs and opening the Australian economy to international competition was criticised for being anti-Australian jobs, for letting foreigners come into Australia and send the profits they make here back home.

Thankfully these arguments were confined to the fringe of society and the economic leadership at the time, mainly from Treasurer Paul Keating, showed that the competition these economic policy reforms would bring would smarten up the efficiency and productivity of local firms and that the foreign investment into Australia would see thousands of jobs created for Australians.

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