Economics is not an ideology. Belief in economics is not blind faith. Respect for the laws of economics is like respect for the laws of nature – you defy them at your own peril. Economics is an empirical science concerned with cause and effect. It behoves you to take it seriously because we’ve seen, time and again, that it works.
The greatest error of the Albanese government’s first term was failing to take economics seriously. Over and over, the government (at times unfortunately aided by Treasury) snubbed its nose at economics, dismissing it as textbook esoterica. Policy after policy, claim after claim, offending economists to their core.
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