Where Australia led, others are following

Paul Keating's labour and capital market reforms and lowering of trade barriers have been instrumental in sustaining Australia's productivity-based growth. Decades later, other countries are heeding his lesson.

Credit where it’s due: 12 years of Paul Keating between 1983 and 1995 set Australia up for a quarter of a century, so far, of recession-free growth.

He was 20-30 years ahead of his time, and now the rest of the world has had to accept that microeconomic reform is the way to go.

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