billy blog ... some alternative economic thinking

The Federal Treasury Secretary, Ken Henry seems to have the idea that full economic potential means wasting the productive capacities of some 1.8 million Australians. He told an AiG function in Canberra today that the economy was growing at its potential without any notable problems (see Sydney Morning Herald, August 14 - "Economy growing at potential: Treasury"). He said that the "inflation also appeared to be relatively under control ... [and] ... Notwithstanding very high oil prices, and consequently high prices for products derived from oil, the Australian economic environme  More ...