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by simorley 1716 days ago
What are you talking about? Australia hasn't had a recession in decades. Australia has done well with all the resources it stole from the aborigines. Most people living in australia has never experienced an economic downturn.

https://au.finance.yahoo.com/news/why-australia-hasnt-had-a-...

Australia hasn't had a recession since the early 90s and you are complaining?

2 comments

While you're absolutely correct that Australia hasn't had a recession in that time, this hides the fact that there have been periods when GDP _per-capita_ has declined. Or to put it another way: Australia's recessions have been hidden by immigration-driven growth.

Of course, immigration-driven growth is great! But for people on the ground, what matters is GDP per capita, not total GDP.

> Of course, immigration-driven growth is great! But for people on the ground, what matters is GDP per capita, not total GDP.

If GDP per capita is what you are interested in, you don't want immigration as it increases the "capita" part.

Also, Australia's growth had nothing to do with immigration. It had everything to do with China and China's economic growth.

  Australia hasn't had a recession since the early 90s and you are complaining?
The point that was being attempted was this: Yes, Australia has done well. But it could have done much better if it didn't squander its mineral wealth and hadn't removed an actually-beneficial-to-society mining tax.

Just look at Norway as the example of how much better we could have done.

In turn, we wouldn't be lumbered with egregious mining billionaires like Clive Palmer and Gina Rinehart, who - among other monstrosities - heavily back climate-disruption denial.