Looks like Australia has done something right (or that is, less wrong), and Tony Abbott is going to be PM by a wide margin. Rudd and Gillard may have had some things to recommend them, but economic acumen was not one of them. I think it is yet to be seen how Mr. Abbott performs on economic policies, but I would feel more confident with him in power as the country faces a great challenge - the mining boom is winding down, and thus there needs to be a diversification away from resource-based wealth. And, of course, the growth of government that resource booms generally engenders might be tapered somewhat by a Conservative rather than a Labourite (although George W. Bush in the US showed that this isn't always the case). Either way, congrats Mr. Abbott - perhaps your first term might be better spent focusing on why the Wallabies are just bloody awful rather than mucking about with carbon taxes.
Dr. Christopher Hartwell is an institutional economist and President of CASE Warsaw. All commentary on this page is exclusively his own and in no way represents the views of CASE, his wife, his dog, or anyone else. Especially not his wife or his dog.