The travelling yobbo

Originally posted by moorookamick: ↑

Since Hawke/Keating we've had Neo-Liberal Governments who
did not believe in economic planning, do not believe in State Owned Enterprises (SOEs)
and they simply followed the Market rather than leading it. That is why its impossible
for a Government to claim responsibility for the economy when it doesn't lead it.
Spike Milligan's take on this was: "Follow me & I'll be right after you" !!!

So to say the our recent Governments are responsible for the economy is an oxymoran
because our Government does not manage the economy. China manages its economy
and we dont like that....do we?

Our economy is controlled /owned principally by foreign owned Multinationals with
the bulk of the profits going overseas. That is the nature of our Capitalist Society
...........the Capitalists own the means of production & distribution.....not the Aus Government!

If we want our Government to be responsible for the country's overall economic
performance, then we have to accept a Government led National Economic Plan
which imposes obligations on our Multinationals to (like China) put the National
Economic Plan objectives before owners' profit.

So what do you want:
(a) A Government that controls the economy and takes full responsibility for it
(a) A Government that "Follows the Market ' (Neo -Liberal) & regulates for a level playing field and taxes to meet Social expectations.
in our Capitalist System, the owners (Capitalists) call the shot and only mildly moderated (not managed) by Government.

Our Government tax take is 24% of GDP and to expect the Government to manage the economy with a 24% stake
is like expecting the tail to wag the dog, IMO.

We cant have it both ways

PS: The Chinese State Capitalist model has gained significant economic traction over the past 30 years
and, IMO, if it continues its current trajectory over the next 30 years , many will be asking questions
whether the US led Western Capitalism model is still fit for purpose.This is why I think that the US
will impose economic sanctions on China while the US still has power to do so in order to stymie
Chinese economic growth.

China passed out the USA in GDP (PPP) in 2015 and with its current momentum, it'll pass out
the USA in GDP (Nominal) within 8 years.

Expand

pretty much on the mark though there are some areas in which conditions can be created by government to impact the economy but anyone who truly things that you can ignore the global impact is ignoring reality

i do find it amusing, though, that proponents of “small government” were such dab hands at issuing contracts for government funded activities - and often to companies with no history or capability in the area of the contract.