Theirs, yours and mines: Australia's minerals might sustain foreign manufacturers but they also help pay for the way we live - some say are we selling the family silver?

摘要

It has long been held that Australia is a quarry for the world. Some economists call this 'comparative advantage' - we do what we're good at - while others call it 'selling the family silver'. No matter what your view, mineral resources go a long way towards supporting our Australian lifestyle. There will be no dry economic argument in these pages, simply some home truths making it evident that without the mining sector we would not be able to afford many things now taken for granted. Total mining output in Australia amounts to about 4% of gross national product, which sounds pretty modest compared with manufacturing output at close to 12%. But bear in mind that manufacturing's contribution to the economy has declined from more than 25% in the 1960s.