There is little doubt that mining and resource extraction will grow to dominate Australia’s economy ever more completely, but at what cost and to whose peril? As everyone knows a persistently high exchange rate is good news to some but crisis for others.
The mining boomis likely to leave behind many previously important sectors of the economy, writes Ben Eltham, but there are few in either political party willing to make the structural changes our economy needs.
Do we need a public debate over the merits of “mining boom, mark two”? Or are its benefits so firmly established to render such an effort futile?
Ben Eltham discusses this problem and more in ABC’s The Drum Unleashed.