8 ms·

Sounds like https://en.wikipedia.org/wiki/Dutch_disease https://en.wikipedia.org/wiki/Dutch_disease Australia's high min-wages + high prices of everything soun

• marcus_holmes 6y ago
  Don't get me started. There's a 4-hour rant I have about that hehe Aussies think that they're in competition with other mining countries to supply the Chinese. From a mining executive perspective, I get this. You need all that revenue now. But from the country's point of view, it's a disaster. Non-renewable resources are being exported as cheaply as possible in as large a quantity as possible. The royalty system works on revenue earned, so the taxes are tiny compared to what they could be if the aim was to maximise the value of each Kg of ore. So yes, suggesting that we tax the exports more brings cries of "making Australia uncompetitive" and that it'll destroy the mining industry, and then what will we do? Crazy. Sad, too. That article on the Dutch Disease is spot on