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Welcome to the The Conversation’s Election 2013 State of the Nation essays. These articles by leading experts in their field provide an in-depth look at the key policy challenges affecting Australia as the nation heads to the polls. Today, we examine the economy – from the drop-off in mining revenue to the future challenges of supporting baby boomers into old age.
In the well-known biblical story, Joseph correctly interprets Pharaoh’s dreams, foreseeing that seven years of abundance will be followed by seven years of dearth, and plans accordingly. While the people of the ancient world had the wisdom to understand that good times do not last forever, modern democratic politicians do not. Herein lies the paradox of the current election.