If I recall correctly in one of Dave's videos, Dick Smith says people blame him for the demise of the electronic manufacturing industry in Australia, when from the reality was he was just in the right place at the right time with the right know how and drive, the industry was going to be killed off by the removal of the government protection and he simply procured components from overseas.
If it was not him, someone else would have simply imported the components. The 1970's saw a lot of removal of Australian manufacturing. Machine tool makers went out of business, large steel manufacturing, ship building, etc etc etc. All started their demise in the 1970's.
then the 1980 came and then the "equity maaaaate" "Aussie will save you" 1990's. And here we are today, which I think all stems back to the government decisions of the early 1970's.