Populism is corrosive and risks a nation’s economic standing.
As Asher Judah wrote in the Australian Century, Australia risks taking the Argentinean road to ruin if we let populism take hold.
One hundred years ago, Argentina was one of the world’s ten richest countries. Subsequently its economy and governance was beset with short term policies, protection, and ultimately the economy was hollowed out and crashed.
Fighting off populism in Australia’s largest industry, financial services, will be a litmus test if we are to avoid the Argentine disease.