It might be a good question to ask. Our Treasurer has a doctorate and likes to be called "doctor" because of it. It makes him sound...well, "knowledgable" perhaps.
The problem is that his doctorate has nothing to do with economics. (It was to do with a political identity.) This shows when he is attempting to explain anything to the rest of us.
I admit I do not know anything much about economics myself, not those sort of economics. For me economics has been the age old questions of "how much money do we have in the bank?", "how much money do we need to pay the bills?" and "can we afford it?". They are the questions I have had to ask myself ever since I was sent off to boarding school. My entire working life has been one of "be careful and remember you are not getting as much as everyone else...you are getting less". No, I am not complaining. There is no point in complaining. I am simply stating a fact. I have actually managed to save some money over time. I intend to spend some too.
But the Treasurer's job is different. He is responsible for the nation's money. When a former governor of the Reserve Bank tells him he is spending too much money then he should be listening. That former governor is still intellectually sharp and he knows a great deal more about economics than the Treasurer. Just quietly let it be known that the present governor of the same bank agrees with the former one - not the Treasurer.
I went to law school with someone who was a senator in our federal parliament. She was retiring from the senate and we were both present at a lecture being given by a member of the university staff. He was attempting to explain a policy in social security and a decision which had been made while the senator had been the minister in question. He referred to the legislation, a number of cases and more. It all sounded good until he said, "The Minister made the decision on these..."
I could feel the Senator, who was sitting next to me, getting restive and then she spoke up, "The Minister is present and the Minister made the decision not on those issues at all. She made the decision on the basis she is also a wife and a mother. She runs a household and it is the decision any responsible wife and mother would make. It is what the women of this country would have wanted. It is what they were telling me." (The issue, relating to child support, had cross party support.)
The references to women might not be quite as acceptable now but they were then. The Senator was, rightly, making the point that decisions were not based on legislation and policy alone but on reference to the families she was responsible for.
It is how the Treasurer should be handling the economy. He isn't.