Thursday, 19 November 2009
Boom go the Resources!
Attended the Lowy Institute 2009 Lecture at the Intercontinental Sydney last night, delivered by Marius Kloppers, CEO of BHP Billiton. BHP used to be "the big Australian", now it's just big! Australia has always prospered on the back of its resources, Marius said. But the next boom is set to eclipse anything we've ever known. He emphasized the need for " getting this right", by which he referred to key factors such as fiscal stability, government policy, labour market flexibility, and capital availability. But I wonder if psychological capital might be an equally important factor in "getting this right"?