I actually agree OZ is in deep trouble systemically, but going full communist is not the answer. We don't have a single example of this working.
We have many examples of countries which attract talent through a variety of incentives becoming very successful. Dubai has managed to fully diversify out of oil revenues by creating an environment entrepreneurs want to come to.
Changing the rule of law and upping the "rent" does not make them want to come here. In fact, it causes capital flight.
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