“It’s rare to hear the term economic rationalism these days, a phrase used often in the past to dismiss policy initiatives aimed at improving productivity and economic growth, such as dismantling trade barriers, introducing competition policy, decentralising the labour market, liberalising foreign investment and privatising state assets.”

Prof Tony Makin writes an opinion piece for The Australian. You can read the entire article here: http://www.theaustralian.com.au/national-affairs/opinion/economic-irrationalism-has-guided-policies-of-the-il-literati/story-e6frgd0x-1226672214794