Neoliberalism has run its course, Paul Keating has spoken.
Sally McManus, the new Secretary of the ACTU announced the demise of neoliberalism as a useful economic force in her speech to the National Press Club National Press Club, as well as defending her comments that anti-strike laws were unjust and could be disobeyed, and setting out the union peak body’s case for a $45-a-week increase in the minimum wage.
McManus said that neoliberalism and trickle-down economics had caused inequality to reach a 70-year high in Australia and that “working people and ordinary Australians have been the victims”.
- “The Keating years created vast wealth for Australia, but has not been shared, and too much has ended up in offshore bank accounts or in CEO’s back pockets.
“Working people are now missing out and this is making them angry.”