Australia’s plummeting prosperity

Just under a decade ago Australia was ranked as the most prosperous country in the world by the (London Based) Legatum Institute’s Prosperity Index. This year Australia barely scraped into the top 10 after falling from 6th place last year and has the worst ranking since the Institute began publishing its annual report in 2006. What’s going on?

The index measures the prosperity of 149 countries in nine different ways: economic quality, business environment, governance, education, health, safety and security, personal freedom, social capital and the natural environment.

The Institute said Australia’s declining economic quality and confidence in governance were the two main areas where the country went backwards.

Anyone who lives in Australia or follows its politics knows that the recent and current state of Federal Government, regardless of party in power, is somewhat of a joke. From one of the most stable governments in the world a decade ago, to 6 different Prime Minister’s between 2007 – 2015. And it looks as though Malcolm Turnbull, the most recent PM to pass through Canberra’s revolving door, is on his last legs with political and policy disasters too numerous to list and his colleagues in open rebellion against him.

The Institute report says (in part) that “Australian politics has seen a lack of transparency in leadership changes, policy development and MP’s expenses. Although trust in government can be impacted by several factors, the opaque nature of the Rudd-Gillard and Abbott-Turnbull changes is a major source of the disillusionment with the political establishment.”

At some stage I’m going to do a detailed article about Australia’s current situation and how the clown show in Canberra impacts the country as a whole but, in the meantime, I just want to say – get your act together.

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