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Macroeconomics
Quick questions on Microeconomic reform - TCE Economics (Tasmania)
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What is evaluating reform?Show answer
Microeconomic reform offers large long-run benefits: higher productivity, faster sustainable growth, lower inflation and improved international competitiveness. But it has real costs. The gains arrive slowly, often over years, while the costs can be immediate and concentrated. Reforms such as trade liberalisation or privatisation can cause structural unemployment as protected or inefficient firms shrink, and the burden often falls on particular regions and workers.
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