Towards the end of three hours of otherwise measured testimony before the House of Representatives economic committee on Friday, the Reserve Bank governor, Philip Lowe, burst into a lyrical defence of markets in Australia that will likely grate with many of the multitudes trying to get by.
“Capitalism works,” he said. “Sometimes we complain a lot in this country but we enjoy a quality of life and a standard of living that very few other people in the world enjoy.”
