Very interesting article from Christopher Joye. Interesting and very worrying because, as it seems likely, the current government will be returned on Saturday and will press ahead with spending tens of billions of dollars on a national braodband network.
Joye sets out just how suspect are the assumptions underpinning the financial viability of the project, (such as the ones that assume that the NBN will earn significantly more than what Telstra currently does and that it will be able to increase its prices every year indefinitely):
The assumptions relating to take up of the service by consumers appear to be equally heroic.
And then, perhaps the most heroic assumption of all!