Plus ça change, plus c’est la même chose. Australia’s Treasurer, Jim Chalmers, “will more purposefully direct investment flows to priority areas such as clean energy, through market design and co-investment”. Also known as industrial policy, Chalmers looks set to revive a relic of 1970s economic thinking: “We will employ this co-investment model in more areas of the economy, with programs already under way in the industry, housing and electricity sectors.