Earlier quoted context omitted.
Cultural and economic. We were once described as the "lucky country" which was used to encapsulate advantages Australia benefited from naturally, like distance from problems elsewhere in the world, great weather and natural resources. The origin of that label was a 1964 book The Lucky Country by Donald Horne where the author points out that: Australia is a lucky country run mainly by second rate people who share its…
So in short, we are too comfortable to need the dog eat dog cutthroat start-up mentality because it's never been required? I think this is a fair comment. For me, being a wage earner, I have to date been able to have a pretty decent middle class lifestyle without having to scheme, hustle or con anybody and I take a pretty dim view of those that do. But that is changing. As others have pointed out, it's now almost imp…
If our exports to China and everywhere else get significantly reduced again, the same cycle could continue. Last time we pulled out of depression with manufacturing.
A snippet from Chapter 24 - Manufacturing Industry in the Year Book of Australia 1938 [0]:
The number of persons engaged in factories in Australia reached its highest point before the depression during the years 1926-27 to 1928-29 when the average for those years was slightly in excess of 450.000. The downward trend in manufacturing operations which began early in 1930 continued with increasing force until the number engaged had fallen to 336,658 in 1931-32, a decline of 25 per cent, on the average already quoted. In 1932-33 employment began to increase and gains were recorded in each year thereafter until a new high level of 523,948 was reached in 1936-37.
The classes of manufacturing that employed the most were:
Although factory employment in 1936-37 was considerably greater than pre- depression levels the gains have been confined to comparatively few classes. The largest class of all— Industrial Metals, etc. —now employs 30,000 more persons than before the depression, Textiles 15,000 more, Food, Drink and Tobacco 7,500, Miscellaneous Products 4,500, Chemicals, etc. 3.500, and Paper, Stationery, etc. 3,500. Five classes reported less employment in 1936-37 including the major classes, Clothing and Woodworking.
We really should be pushing rooftop solar and key home-made items as much as possible, maybe even legislating it as a requirement where it makes economic sense. Lowering costs as much as possible could make a lower wage bearable. Tackling the difficulty with love will be key in softening a more authoritarian turn in the '40s for fear of secondary economic effects.
In every downturn there's plenty of opportunity, the next depression might make the next manufacturing mega corporations out of Australia.
[0] https://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/1301.01...