Economic rationalism as an ideology is central to Australian politics. The politics of the Hawke and Keating governments have been guided by economic rationalism and the Hewson-led opposition is committed to a radical economic rationalist agenda. Over the last two years, economic rationalism and its associated ideologies have come under increasing pressure in Australia from both the Left and Right. It has been blamed for many things, including the decline of Australia's manufacturing industry and the current recession.
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