Subject: The Australian Today/Potentialdangers from the Albanese Government’s ‘Made in Australia’ Policy and Chalmerspursing a ‘values-based capitalism’ agenda!
Professor GaryBanks (former Inaugural Head of the Productivity Commission) is correct tospeak out against this ‘foolish Albanese Government’s proposed policy of ‘Madein Australia’! ‘While the PM and Treasurer have portrayed this a newform of competition policy different from the ‘old protectionism’, thedifference lies mainly in the instruments used and industries targeted’ Banksstated
Simplygovernment inappropriate allocation of resources (picking ‘winners’) and withundesirable market outcomes! More Government (and Unions) in business andInvolvement in markets!
A friendrecently remarked China and USA are doing the same thing so we should sit backand benefit from their cheap goods from their ‘subsidies’ in lieu of AustralianGovernment providing similar ‘subsidies’; simple crazy stuff! To paraphraseJack Nicholson in As Good as it Gets ‘Sell crazy somewhere else! We’re allstocked up here’!
Moreimportantly this Albanese Government policy of ‘Made in Australia’ is partof the Albanese/Chalmers design to change the nature of Australian capitalisteconomy to a ‘values-based capitalism’ which plays into the Governmentspreference for market interventionism and with union support via the IndustrySuperannuation Funds!
This is part of the global evolving system ‘new order’as in a 27 April 2023 speech to the Brookings Institution, US NationalSecurity Adviser Jake Sullivan warned that a new order was beinginvented – the overarching goal being “to more deeply integrate domestic policyand foreign policy”! Further Jake Sullivan said the false assumption ofthe previous order was “that markets always allocate capital productively andefficiently, no matter what our competitors did”, but the consequence wasthat “entire supply chains of strategic goods – along with the industries andjobs that made them – moved overseas”.
As my email of 7 April 24 referred to the renownedJournalist Fareed Zahara is ‘this a Revolution?’ Or Are People JustVery Ticked Off? In his new book, he explores how much the times area-changin’. At risk, he says, is the entire global system!
I amseriously concerned as to where Australia is heading in terms of theAlbanese/Chalmers Government’s woke economic policy plus we are confronted byserious geopolitical challenges in this troubled world where ‘black swan’events abound!
Made inAustralia agenda ‘a fool’s errand’https://www.theaustralian.com.au/nation/politics/former-productivity-commission-boss-gary-banks-challenges-labor-over-made-in-australia-agenda/news-story/d0d9c242a0e1d63e376c5e1ddb17661f
