“Powerful economic interests” had a strong interest in keeping the existing economic system in place after the 2008 financial crisis exposed shortcomings when he was an adviser to then-treasurer Wayne Swan, Dr Chalmers said.
“They pursued loosely defined goals for competitiveness through a race to the bottom on wages and public investment.“The ‘Washington Consensus’ became shorthand to describe recommendations and orthodoxies for developing countries urged by the International Monetary Fund and World Bank – a reference to each institution’s proximity to the other in Washington DC.
, which helped set up Australia’s prosperity by slashing tariffs, increasing flexibility in the labour market, floating the dollar, financial deregulation and a better social safety net.
Whenever Labor look to reform, the country prospers.
This looks like standard Social Democracy to me. Of course Free Market advocates and Socialists won’t agree with it.
It's not like uber-capitalism has done anything except make rich people even more rich and everyone else poorer.
Got to get big corporate tax cheats to pay some tax.
'The nine most terrifying words in the English language are: I'm from the Government, and I'm here to help. ' Ronald Reagan
Smaller govt and deregulation has got us into this mess. Bigger govt get us out. Check overseas experience.
After the words, we await the action with anticipation?
Government housing is a thing of the past. Jim Chalmers future is one in which the government gives vast swathes of land, mega corporate landlords build and own all the housing, and everyone is a renter. So, they're not interested in making renters owners.
urging business to co-invest with government = BlackRock Capital and JP Morgan owning all the housing built on government land
We're doomed
Governments have a terrible track record of spending taxpayers' money efficiently because they are rarely penalized for financial mismanagement. Governments ought to let businesses do what it does best: find business opportunities that create employment opportunities.
Co-invest in government? You've got to be kidding. When did any government ever bring in a project on budget and on time?
Aka Socialism to Communism to Facism to civil war. Great. They tried this amazing ideology in Russia, Cambodia, China, Venezuela, Cuba, Burma et al. Worked out really well
Good. Neoliberalism has ruined anything that was once valuable. It’s time is over, we need to start prioritising things that actually matter
It will end in tears. We shouldn't complain later.
'Values-based capitalism' - who's values exactly?
What business in its right mind would get into bed with Albanese and Chalmers? NONE. These two have shown their hands is elevating unions to run the economy, limiting profits, taxing the big business that create jobs and mining companies. They are just usless egomaniacs.
What business in its right mind would get into bed with Albanese and Chalmers? NONE. These two have shown their hands is elevating unions to run the economy, limiting profits, taxing the big business that create jobs and mining companies. They are just usless egomaniacs.
Jimbo has never had a real job… political staffer, mp, Treasurer. Never had to balance the books, pay employees, never been an employee in any enterprise. Never made anything. This muppet is going to remake capitalism? This govt is a dud, but now I afraid of it.
He so smart and I can't wait. He actually wrote an amazing dissertation on Paul Keating. Incredible smarts.
Command economies don't work Think!!
Socialism loud and clear
This won’t end well
Is Cold War values-based capitalism?
Co invest with Gov = socialism. No thanks
All this is going to lead to is; crowding out of private capital, mis allocation of resources, and ultimately poor productivity growth..
Sounds like socialism. Gov run out of money start using the super nest egg
Labor (and Lib) gov'ts are pushing unsustainable housing overdevelopment and record high immigration to push up the GDP statistic and provide so-called economic 'growth'. A neoliberal corruption of the economy. Then he has the gall to claim 'values-based capitalism'. Spare us.
I don’t even know what that doublespeak means. They introduced a price cap for a commodity taking Australia from zero to maximum sovereign risk. Now they have some investment “values based plan”. WTF is that? Business knows how to make money. Government frustrates that. 🤦🏼♂️
Jim thinks people will invest in a country with overpriced Labour, and expensive, unreliable electricity, and then share any profits they may make with Jim's labour govt. Jim should try mowing lawns.
Chalmers is an Albo socialist clone to compete with Adam Bandt on welfare JEChalmers
This can only end well. Not! Kevin 07 MKii this will be a mess. Auspol
I thought “co-investment” = “public/private partnerships” were one of the main methods of neoliberalism.
Jim Charmers becomes Jim Cairns.
Woah. Like china ?
I’d rather just see mal investment be burnt and we start a new cycle. Thanks Jimbo
Jim is on the path to socialism what a half wit and talks crap.
They didn’t take this to the election. They got the lowest primary vote in years yet they’re governing like they’re a majority with stuff that they did not tell voters. Govt cannot and should not use taxpayer dollars to pick ‘winners’ (aka their friends & donors).
How far back will Chalmers and Labor take Australia? That’s the real question.
Chambers is describing socialism. A government controlled free market.
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