Monopoly may be a fun game to play, but in the end there can be only one winner and many losers. Thankfully, this is not how our social market economy works. However, it needs clear rules and a fair referee. This is where the state comes into play.
Whereas the United States experienced recessions in 2001 and 2008/9, the economic downturns in Australia around those times were relatively mild. It has been 20 years since the Australian economy experienced a year of negative growth. This represents the longest period of uninterrupted growth in Australia’s economic history, and one for which there are few precedents among the developed economies.