Tuesday June 27, 2017

Dr Ken Henry

Written by David Marler
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Dr Ken Henry is the former Australian secretary to the treasury, 2001-2011.  He was in charge at the time of the Global Financial Crisis (GFC) during the Rudd Government.  Over the years, he'd served under many governments on both sides of politics.  He worked for  Treasury when Australia fell into recession in 1990 and was only able to watch as the Treasury Department decided not to intervene.  Years later, as the GFC approached, he was 100% committed to Treasury involvement.
He speaks to the ABC's Chris Ulhmann and makes one of the great economic quotes of the 21st century, "Go hard, go early and go to households".  It's well worth watching for anyone that wants to understand what economists call "fiscal transfer" and conservatives may call "government waste". He also explains why the Euro will never work and surprisingly explains why it is not such a bad thing for Australia.
He is a quiet, thoughtful and softly spoken man. He not only looks at the economy from a fiscal view but takes into account what the effects of something like a recession has on people's lives. Dr Henry is one of the great unknown heroes of Australia, part of a small group of people that ultimately saved Australia from falling into economic ruin alongside the USA during the GFC.
The full interview is 30mins long but below is a short 3 min snippet, of his most famous of quotes.
The full 30 min interview can be viewed at the ABC, here http://www.abc.net.au/7.30/content/2012/s3503553.htm


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