In order to lift Australia out of their current economic situation, the Hawke government introduced policies, or reforms, aimed to restore the country’s economic growth by reducing the high rate of unemployment and inflation that had occurred in the previous years. The aim of the reforms that the Hawke government wanted to implement were to lift the growth rates in the medium – long run as opposed to an immediate short run gain (McLean 2013). In order to do this, the Hawke-Keating era saw the government aim to open up the Australian economy to increase economic prosperity. They’re intentions were to increase economic efficiency and raise productivity through domestic market liberalization (McLean 2013), which would relax government restrictions on the domestic market, and opening up the domestic Australian economy to the world (Quiggin 2002) through international competition. The main
In order to lift Australia out of their current economic situation, the Hawke government introduced policies, or reforms, aimed to restore the country’s economic growth by reducing the high rate of unemployment and inflation that had occurred in the previous years. The aim of the reforms that the Hawke government wanted to implement were to lift the growth rates in the medium – long run as opposed to an immediate short run gain (McLean 2013). In order to do this, the Hawke-Keating era saw the government aim to open up the Australian economy to increase economic prosperity. They’re intentions were to increase economic efficiency and raise productivity through domestic market liberalization (McLean 2013), which would relax government restrictions on the domestic market, and opening up the domestic Australian economy to the world (Quiggin 2002) through international competition. The main