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Last thing the government should do is buy a power station

Power resources Electricity Energy industries Energy Energy demand Australia

One of the most common debates in economics is when should government intervene in markets? Government itself – judging by its recent actions – clearly thinks the answer should be ‘quite often’. Can there be any doubt that intervention is increasing, not just in energy markets — see the furore over Liddell as a prime example —but in other areas too?

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