Tag Archives: economic priorities

Lesser Known Economic Miracles

Two lesser-known economic good news stories provide a revealing perspective on the mainstream economic paradigm, and on Australia’s current state.

The first economic miracle is Mauritius, brought to our notice by Joseph Stiglitz in the Guardian.  Mauritius gained independence from Britain in 1968, and with few natural resources in its Indian-Ocean archipelago its economic prospects were rated as pretty dismal.  Bucking the usual prescriptions of economists (sell your soul and your land to overseas investors and tourists), and despite per capita income of less than $400, Mauritius decided to invest in its one major asset – its people.

Continue reading