freediver wrote on Feb 24
th, 2016 at 10:12pm:
Are there any Australian monopolies that you think are not natural?
When was the last time our government created a monopoly?
I’m not sure, but the first example that springs to mind is the NBN. But for me, the most glaring example was Keating’s pay TV policy that blocked the introduction of microwave TV and kept small players out in favour of Murdoch and Packer’s joint ventures.
This is just one industry: telecommunications. I’m sure that if we went down the list into agriculture (Graincorp), mining (the mining tax deal).and many others, we’d find the same political deals at the federal and state levels.
I’d say one reason Australia has changed so much since the 1980s is the introduction of competition, but only up to a point. A visit to other countries, even small countries like Israel or Singapore, and you see the variety of choices on offer. In the media, Australia is highly monopolised. There are few reasons for this other than political deals, along with a lack of investment. Countries (and investors) with more capital are prepared to take more risks, but this too has to do with government incentives.
Australia has liberalised a good deal since the slumber of its early years, but it’s hardly the Bangalore, Silicon Valley or Tel Aviv it has aspirations of becoming.
Or did during Turnbull’s brief Winter of discontent, before he gave way to realpolitik.