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Peter Hartcher

Peter Hartcher is the political editor and international editor of The Sydney Morning Herald. He is a Gold Walkley award winner, a former foreign correspondent in Tokyo and Washington, and a visiting fellow at the Lowy Institute for International Policy. His latest book is The Sweet Spot: How Australia Made its Own Luck and Could Now Throw it All Away. His 2005 book, Bubble Man: Alan Greenspan and the Missing Seven Trillion Dollars, foresaw the collapse of the US housing market and the economic slump that followed.

Illustration: Andrew Dyson

Does Australia even need a government?

Look around in Australia on the first business day after the country was supposedly rendered "ungovernable" by Saturday's election. On Monday the share market was up and so was the Australian dollar.