Pillars of Time
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Henry Ergas asks what's so special about the banks and the number four.
On April 23, Dutch bank ABN Amro capitulated to a $US91 billion takeover offer by the UK's Barclays Bank, potentially paving the way for an entity with banking assets of over $US3 trillion - almost three times the asset base of the four major Australian banks combined.
It is finally being recognised that substantial parts of our infrastructure industries face serious capacity constraints. The factors behind this are complex.
For over a decade, Australian governments of every persuasion have moved to make funding for the delivery of public service objectives more contestable.
Defence is and will in the foreseeable future continue to be a large consumer of Australia's resources.
The issue of exclusive dealing and its economic impacts has received extensive attention in a number of recent cases, including Australian Competition and Consumer Commission v Universal Music Australia Pty Ltd1, Australian Competition and Consumer Commission v Australian Safeway Stores Pty Limited (No 2)2 and Melway Publishing Pty Ltd v Robert Hicks Pty Ltd.3 Moreover, concern about exclusive dealing remains high on the public policy agenda, and is especially significant in respect of small business.
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