Too Much Luck

Name: Too Much Luck
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ISBN: 9781863955379

The Mining Boom and Australia's Future

Paul Cleary

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English

Black Inc
02 August 2011

Economics of industrial organisation; Political economy; Mining industry; Australian Society

'We think we are the lucky country, but what we really have is dumb luck-a lot of luck without the planning or strategy to make sure our good fortune lasts.'-Paul Cleary

In Too Much Luck, Paul Cleary shows that the resources boom, which seems like a blessing, has the potential to become a curse - unless our governments take urgent action.

Today, under-taxed and under-regulated multinational companies make a tidy profit by selling off our non-renewable resources. As the mining boom accelerates, it will drive the dollar sky-high, forcing up the cost of doing business for everybody. Industries such as tourism and education-industries that, unlike mining, involve many jobs-will fade away. But what happens if commodity prices suddenly collapse, as they did with the GFC in 2008; or worse, when the resources run out?

Many countries before us have been caught by the resources trap- a heady period of boom and growth, followed by a painful bust. Paul Cleary maps out the pitfalls, considers what has worked overseas, and suggests a better way forward.

By: Paul Cleary
Imprint: Black Inc
Country of Publication: Australia
Dimensions: Height: 199mm, Width: 132mm, Spine: 14mm
Weight: 185g
ISBN: 9781863955379
ISBN 10: 1863955372
Pages: 160
Publication Date: 02 August 2011
Audience: General/trade , College/higher education , Professional and scholarly , ELT Advanced , Primary
Format: Paperback
Publisher's Status: Unspecified

Reviews for Too Much Luck: The Mining Boom and Australia's Future

'Paul Cleary argues that the resources boom is being classically mismanaged, indicting both federal and state governments for failing to regulate and tax properly the multinational corporations flocking to Australia to extract nonrenewable resources...[a] fierce, concise book.' --William Finnigan, New Yorker 'A timely and provocative analysis of some of the risks and opportunities associated with the present resources boom.' --the Monthly 'A powerful and passionate case for more sophisticated management of our mineral wealth.' --Canberra Times 'A rousing and and valuable wake-up call that every Australian should read.' --Fiona Capp, Saturday Age. 'This may be the most distressing book you read all year' --Sydney Morning Herald 'A very timely and important book.' --Australian Options