Did it speed up GDP growth did it @BernardKeane ?
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compared to growth from the 60s onward, yes. don't know about growth in the late 40s and 50s
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Any half baked ideology could have riden the mining boom to >gdp in those years, but the worm has turned.
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Technical advancement have, think neoliberalisms is -ive. Dereg has increased growth, but w/ big cost of inequality& priv debt
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neoliberalism broadly = deregulation, marketisation. Tops if you've capacity for + insecurity & social risk, terrible if not.
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It's had its day, Bernard. It has mutated into crony capitalism: a cancer on the environment and the body politic.
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- nothing wrong with markets but neoliberalism takes economic myths to the extreme
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- need to acknowledge that it has produced a massive explosion of private debt as money creation was outsourced to banks
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Lift looking increasingly skewed in distribution Pity slightly less increase with more equality wasn't an option
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well if it delivers a generation of deflation from here then all that was 'massively lifted' was the ladder behind babyboomers
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attack on public services - those reliant on them have had living standard reduced overall. been to a public hospital lately?
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or tried to live on the dole? try telling the unemployed their standard of living has been lifted
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After ecstatic high, fuelled by conjured-up phantom capital markets follows the inevitable comedown
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Great article for
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