Socialism is different to Social delivery of select services which we have eg"
(A)
-education
-health
-welfare
-defence
-armed forces & policing
-border security
-Government Regulatory Authorities including the RBA
-essential infrastructure.
(These were gradually introduced since the early Industrial Revolution to save Capitalism from Revolution as happened in Russia & China)
(B)
On the other hand we have:
-private property
-capitalist ownership of businesses including a Stock Market & our Banking System
-capitalist ownership of farms
-capitalist ownership of mining resources
etc. (all hallmarks of a Capitalist System but unfortunately mostly majority foreign owned)*
This by definition is neither a true Capitalist System nor a True Socialist one but
simply a Hybrid which is the Norm in the OECD.
Some call it a post-industrial welfare state
In a proper Socialist State all of (B) would be Socialised.
This is why China defines itself as "Socialist with Chinese Characteristics (being mostly the private enterprises & private property ownership)
*I guess the big question is: At what stage will the Average Aussie jack up about the creeping foreign ownership of our privately owned assets? Today our Afterpay is being bough out by a US Fintech outfit and over 60% of our big 4 banks are already foreign owned.
Aussie households have on average $550K debt which is predominantly foreign owned. If that became 100% home equity post a recession
7 the bursting of the housing bubble, would that be an issue? Would it be a good look for our predominantly foreign owned banks to be evicting Aussie home owners to protect their foreign share owners ? Foreclosures in the USA during the GFC was different because it was US owned
financiers vs US citizens.
PS: Before Covid Government spend was about 26% of GDP and now its 36% due to Jobkeeper/Jobseeker & goosing big businesses etc.
- Forums
- Political Debate
- Bronwyn Bishop says Australia is Socialist
Bronwyn Bishop says Australia is Socialist, page-47
-
-
- There are more pages in this discussion • 32 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
MTL
MANTLE MINERALS LIMITED
Nick Poll, Executive Chairman
Nick Poll
Executive Chairman
Previous Video
Next Video
SPONSORED BY The Market Online