Holden: Real economy is a false value

By Jack Waterford
Updated April 19 2018 - 8:26am, first published December 15 2013 - 3:00am

WHEN Holden announced this week it was closing down, the minds of hundreds thought immediately of jobs that the thousands of skilled factory workers, particularly in Victoria and South Australia, might take up instead. There's a potential mining venture in the godforsaken middle of South Australia, for example, if only BHP Billiton would reverse a decision to defer opening. Likewise, one can hardly think of unemployed South Australians without imagining a new submarine, or set of them, to be constructed in that state at about twice the going rate, and half the quality. Before we are finished, south-eastern Australia will no doubt be teeming with call centres, broadband network sales people, engaged in building a bridge to Kangaroo Island or a tunnel connecting Geelong to ''Smifton'', Tasmania.

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