Sat, January 4, 2025
Fri, January 3, 2025
Thu, January 2, 2025
Wed, January 1, 2025
[ Wed, Jan 01st ] - MSN
What the papers say - January 1
Tue, December 31, 2024
Mon, December 30, 2024

'Labor problem in a nutshell': ALP don't understand difference between 'cost and price'


//politics-government.news-articles.net/content/ .. nderstand-difference-between-cost-and-price.html
Published in Politics and Government on Thursday, January 2nd 2025 at 5:20 GMT by MSN   Print publication without navigation

  • The Albanese Labor government don't understand the difference between "cost and price", claims Liberal MP Garth Hamilton.

The article from MSN discusses the Australian Labor Party's (ALP) apparent misunderstanding of the economic concepts of cost and price, as highlighted by a recent policy decision. It critiques the ALP's approach to economic policy, particularly focusing on their handling of the cost of living crisis. The piece argues that the ALP conflates the cost of production with the price consumers pay, leading to policies that might not effectively address inflation or the financial burdens on citizens. It points out that while the government has the power to influence costs through subsidies or taxes, the market ultimately determines prices. The article suggests that this confusion could lead to misguided economic strategies that fail to tackle the root causes of economic issues, potentially exacerbating problems like inflation and not providing relief where it's most needed.

Read the Full MSN Article at:
[ https://www.msn.com/en-au/politics/government/labor-problem-in-a-nutshell-alp-don-t-understand-difference-between-cost-and-price/ar-AA1wQ7sa ]

Publication Contributing Sources