When we had the crisis of stagflation in the 80s, it was the worst crisis since the Great Depression; double digit inflation, record high unemployment and very high interest rates.
The Australian people voted for the Hawke/Keating Government and they resolved the crisis and gave us Medicare.
In 2006-7 we had the Global Financial Crisis created by corporate greed.
Again, the Australian people elected a Labor Government (Rudd/Gillard) and they managed the crisis better than any other country in the world.
Wayne Swan, the Labor Treasurer, was declared the best Treasurer in the world.
When the ACTU and the Hawke Labor Government agreed to work together to create a universal superannuation scheme for all Australians based on Industry Funds, it was bitterly opposed by the Coalition Parties, but their opposition was overcome.
As a result of this reform, there is now up to $651b extra invested in our economy.
This has stimulated the economy to a level that no other reform has done, in my opinion.
Had the Coalition Parties succeeded in defeating the ACTU/Labor Superannuation reform, our economy would be in a serious crisis.
So, history shows that Labor is the best manager of our economy in periods of economic crisis, and it does more to help the needy, the poor, the low paid and disabled than Liberal Governments.
Email, Apr 30
Tom McDonald (former ACTU Vice President), East Gosford