As the world coal price continues to fall, politicians are asking themselves what the Australian economy will look like by the time the downturn bottoms out.
They needn’t look far.
Tasmania offers a clear road map for what happens to an economy when the price of a significant export commodity falls.
And, most recently, with news the Tasmanian Government is considering turning away private investment into tourism to provide yet another bailout to one of its worst-performing industries, it also offers a lesson in what not to do in response.
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