Ganesh Sahathevan

Four Corners reveals a landmark new study, backed by 10 years of scientific research, which challenges the long held economic wisdom that growth and exports are the pathways to prosperity. Its key message: Australia undervalues its resources. The foods and other products that Australians consume and export are all part of the envied lifestyle � but are heavily subsidised by the environment. Each year this arid country effectively exports more water than is used in its cities and its towns - without getting paid for it. Meanwhile rivers and creeks are choking. When a grain shipment is sent overseas, no one pays for the wear and tear on fragile topsoils, let alone their repair. Foran argues that not only exports, but also the service economy gobbles up physical assets and must be costed.(http://www.abc.net.au/4corners/archives/2002b_Tuesday5November2002.htm) For full story and transcript-see http://www.abc.net.au/4corners/stories/s718523.htm

The Garnaut Report on Climate Change puts an economist in charge of determining matters best left to climatologist. Be that as it may, this may be a good time to determine the quality and consequences of Ross Garnaut's earlier policy work , the consequences of which Australians are only now beginning to slowly appreciate. I am of course referring here to his "Australia and the North East Asian Ascendancy", a work which was within his area of competency. His work was central to the Hawke government economic reforms of the eighties, which opened Australia to overseas competition and dismantled the protectionist measures around many Australian industries. (http://www.abc.net.au/pm/content/2008/s2295098.htm) Having said that his previous work was within his area of competency, the question to ask is; how competent was he in producing that work?. Many argue that he has been responsible for directing the attention and resources of Australian businesses to the growing North Asia...