Debt in the Banana Republic

[PN: In this article, ‘with sober senses’ explains ‘social reproduction’ in the context of the debt crisis claimed by Qld government as a rationale for austerity. It is part of a series of articles written from a marxist perspective about the crisis created under capitalism which sees rising unemployment, social inequality, and the demise of regional towns in Qld. Falls in commodity prices (oil, gas, agricultural products etc) have produced ‘the Dutch Disease‘ where over-reliance on mining has pushed up the value of the $A and made it impossible for the rest of the economy to compete on world markets. Ian Curr, Jan 2015. ]

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