Industrial Policy

Manufacturing output has grown in absolute terms even as its GDP share declined—Australians have simply allocated resources where returns are higher.

Governments across the developed world are taking equity stakes in struggling companies, creating the moral hazard and capital misallocation that leads to economic mediocrity.

There is no case for a government bailout of North Queensland’s copper refining and smelting facilities.

The chequered history of ethanol subsidies is a warning for Australia’s new push to manufacture sustainable jet fuels.

Economic reality trumps climate dreams in a world where money is no longer free.