Business
Beware free riders in these uncharted waters – The Australian Financial Review
That no one even remembers the Coalition’s debt truck shows how the pre-COVID-19 economic rule book no longer applies. But we need to be wary of free riders and the free lunch brigade.
Inflation remains low despite more than a decade of very loose monetary policy. So much for all that teaching about the close linkages between monetary policy, cash rates, monetary aggregates and inflation. Philip Lowe may well spend his term as governor of the Reserve Bank without ever lifting the cash rate.
We are indeed in uncharted waters.
Large parts of the capital stock in tourism, transportation, retailing, hospitality, arts and entertainment look to be uneconomic, if not redundant.
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