Original article by Laura Tingle
The Australian Financial Review – Page: 10 : 24-Jun-14
Forecasts of economic crisis after the investment phase of the mining boom could prove ill-founded, and the boom could prove less significant than thought. Reserve Bank of Australia board member John Edwards claims that other forces have often surmounted the impact of higher commodity prices on the domestic economy. Edwards notes that output grew faster in the decade preceding the resources boom than it has in the aftermath. He adds that rather than being complacent, Australians have been saving, investing, learning and working more
CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIAN LABOR PARTY