Balancing Act– Australia Between Recession and Renewal | Quarterly Essay 61 | George Megalogenis
Review by GARTH JONES
Expanding on themes briefly explored in 2015’s Australia’s Second Chance, journalist George Megalogenis returns with his second Quarterly Essay, Balancing Act- Australia Between Recession and Renewal.
On the heels of yet another myopic Federal Budget, Megalogenis’ new article looks at the need for reform in our approach to taxation, education and infrastructure projects. In particular, the petty partisan politics of recent governments are thrown into relief, highlighting egregious waste and outdated notions of Australian economic success.
Megalogenis’ gift for explaining complex economic principles in layman’s terms is in evidence in Balancing Act. Using jargon-free language and simple graphs, Megalogenis demonstrates that capitalism has left us with bloated cities, growing inequality and rogue, tax-evading corporations.
The author’s measured exasperation with the status quo is further illustrated in his meditations on our comparative prosperity in light of ongoing global economic ructions. Balancing Act challenges our political parties to abandon the outdated policies of the past and embrace a new paradigm. Specifically, Megalogenis advocates for a reconsideration of the economic balance between markets and the state.
With a lengthy federal election campaign in full swing, George Megalogenis’ latest offering is a thoughtful precis on the issues Australia confronts in the twenty first century.
Essential reading for the thoughtful voter.
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