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The Times

Unemployment’s up, house prices are stagnating. But is the Victorian economy doing as badly as it seems?

  • Written by David Hayward, Emeritus Professor of Public Policy, RMIT University

The early 1990s in Victoria were tough. The economy was contracting severely, the population was shrinking, employment was collapsing and the unemployment rate skyrocketed to the highest in the land.

A long-term Labor government got the blame for allowing state debt to spiral out of control. Victoria, reckoned a popular joke at the time, was...

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