The source of the nation’s exceptionalism has fallen through the centre ground as neither triumphant Labor nor the devastated Liberals represent aspirational voters.
The election landslide has buried the policy consensus that delivered Australia’s exceptional modern prosperity. So we’ll likely drift back to the pack of unexceptional, moderately prosperous nations.
It will be a future of relative decline unless triumphant Labor becomes more like Hawke-Keating and the vanquished Liberals become more like Howard-Costello.
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Michael Stutchbury is editor-at-large. He is in his fourth decade of writing for and editing national newspapers. After nearly six years as editor of The Australian, he returned to the Financial Review as editor-in-chief (2011-2024). Email Michael at mstutchbury@afr.com
