{"product_id":"9781921215544","title":"The Failure of Free-Market Economics","description":"\u003cp\u003eThe basic concept behind-free-market economics is simple and seductive: the government should not attempt to pick winners by granting assistance to specific industries, and it should only intervene in the marketplace when there has been a substantial market failure. The only trouble with this theory - as the global economic disaster has shown - is that it is based on ideology, not evidence, and it can't withstand contact with reality.\u003c\/p\u003e\u003cp\u003eFor decades, Australia has been an enthusiastic adopter of the free-market approach. The consequences - such as mass privatisations, tariff reforms, and flexible wages and conditions - have been lauded by the booming financial sector and the political class. Unnoticed in the hubbub, though, has been the annihilation of the manufacturing sector - which has resulted in 20 years of monthly current-account deficits and a foreign debt approaching $650 billion - and an economy dominated by footloose capital and tax-averse multinationals.\u003c\/p\u003e\u003cp\u003eDespite propaganda to the contrary, employment in Australia is now increasingly characterized by low-paid and insecure jobs in service, logistics, and retail industries.\u003c\/p\u003e\u003cp\u003eThe Failure of Free-Market Economics explains how the triumph of a fundamentally flawed economic orthodoxy has weakened the Australian economy and now threatens our future. It also offers a range of practical reforms that the author argues are essential and urgent. This is a unique perspective from a highly qualified expert who started his career inside the free-market establishment and has ended up as a 'true unbeliever' in its ideas.\u003c\/p\u003e","brand":"Scribe Publications Party Limited","offers":[{"title":"Default Title","offer_id":47040171245808,"sku":"9781921215544","price":29.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9781921215544_p0.jpg?v=1763631608","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9781921215544","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}