Industrial Policy

The Albanese government’s “new approach” to industrial policy is simply mid-20th century interventionism with a lick of green paint. It is wasting money on uncompetitive industries and creating a reliance on subsidies that are politically difficult to remove, burdening consumers and taxpayers.

Chinese cars offer great value and affordability, but US automakers are lobbying for protection, just as they did with Japan in 70s. Fortunately, Australia’s lack of auto manufacturing means that this time around, we can enjoy the full benefits of competition!

Here are a few short takes for you to chew over on the weekend, from the week’s happenings that probably didn’t need a full post._ 1. Boeing’s cycle of misery # You may have seen or read about the issues Boeing’s commercial aircraft arm has had in recent years. The troubles have led some to ask questions such as why are there only two major suppliers of commercial aircraft, Airbus and Boeing? Why is Boeing still just tweaking the 737 – a 50-year-old design – instead of developing a new aircraft to replace it?

Australia’s Treasurer, Jim Chalmers, gave his thirteenth speech on the “defining decade” this week, which he also calls the “turbulent twenties”. But other than those zingers, the speech was incredibly light on substance. So light that even a large language model was critical: