Exceptionalism has long been a stock-in-trade of the Australian ruling class, its state and ideological agencies, promoting the myth that the country and its economic system is in some way insulated from global storms and stresses.

This myth has suffered hammer blows because of the experience of the Omicron variant which, since December last year, has been ripping through the population, heavily impacting children as well as the ongoing floods and other extreme weather events, which, whatever their proximate causes, are a rooted in global warming.

But in the sphere of the economy the exceptionalism myth continues to be promoted. It forms the foundation of the economic analysis prepared by the Treasury Department for the Morrison government’s pre-election budget brought down on Tuesday.

Australian Treasurer Josh Frydenberg in conference with the Business Council of Australia [Credit: @JoshFrydenberg, Twitter]

Statement 2 of the Budget…

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