Politicians obsessed over two economic events this week: the first interest rate cut in more than four years and a $2.4 billion taxpayer bailout for the beleaguered Whyalla steelworks in South Australia.
The political urgency is yet another proof point of the short-term thinking that is pervading modern politics and the willful ignorance of what really matters for the long-term living standards of 26 million Australians and future generations.
John KehoeEconomics editorJohn Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
