Michael Pusey coined the term ‘economic rationalism’ in 1991 to refer to the narrow economic focus of many senior public servants in Canberra. These influential advisers were mostly classically trained economists who saw their task as being to assist in creating a more efficient and productive society by privatising publicly owned utilities and services, giving greater rein to market forces, increasing competition, deregulating the labour market, and so on. But like every major political programme, economic rationalism has had, and continues to have, great social costs. John Wright’s book is primarily a moral evaluation of this programme.
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