As many commentators predicted, the failure of the McMahon government to revalue the Australian dollar against sterling last December has exacerbated the problems of an increasingly unwanted foreign capital inflow. (See David Evans’ “Notes on the Economy”, ALR Nos. 33 and 34). Even the Deputy Prime Minister, Doug Anthony, for a long time one of Canberra’s most enthusiastic champions of foreign investment, has recently expressed concern at the current scale of foreign investment in Australia.
Recommended CitationRowley, Kevin, Economic Notes: An Embaressment of Riche, Australian Left Review, 1(35), 1972, 23-26.