economic policy

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Small Man Syndrome

The Federal Government recently announced measures to assist Australian farmers in restructuring their debt and to invest in productivity. Among the measures include concessional loans of up to $650,000 for debt-ridden farmers.

The announcement came just days after the premier of WA rejected calls by the state’s farmers for further financial assistance from the state government.  Premier Colin Barnett suggested that some farmers “probably need to leave”. Moreover, according to the Director of the Bankers’ Association, to some “things aren’t too bad” for farmers, and believes that the recent measures are merely to replace the Exceptional Circumstance assistance scheme.

Such comments have not gone down well with farmers.

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The Economic Cost of Child Abuse

It is often said that an affluent society is best judged by how it treats its most vulnerable citizens. This honourable barometer tends to bring to mind notions of charity and generosity rather than a contemplation of the broader social benefits of investing in the underprivileged. When in fact, expenditure directed towards the disadvantaged has far-reaching economic and social returns that often go unconsidered.

Funding for addressing disadvantage is too often placed in the basket of ‘social programs’, which gives the community the erroneous impression that it has nothing to do with the economy. However, as proponents of the proposed National Disability Insurance Scheme will tell you: it’s not about philanthropy, it’s about investing in people through empowerment and participation.

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What Governments Do, Don’t Do, and Can’t Do

Where the action takes place

When you consider what ‘government policy’ really means, most tend to think of actions made by government on production, distribution, consumption and identity issues, and rightly so. Public policy mainly concerns both the formulation of goals across these many areas of life and implementing ways of achieving these goals (Australian Public Policy, Fenna). 

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