Australia’s Labor government has shown its true colours.
On Saturday, by way of an article in the Australian newspaper, treasurer Chalmers announced the most retrograde economic policy since Paul Keating introduced prosperity forty years ago.
In his article in The Weekend Australian, Treasurer Jim Chalmers showed how the Albanese government will transform the nation and direct capital into areas that accord with government policy, rather than leaving it to the market.
In other words, we will embrace an Australian form of socialism which Chalmers calls “value based capitalism” and says it will be “uniquely Australian”.
It’s called ‘value based capitalism’ in which the gummint decides the places and industries in which companies invest.
Sounds just like socialism to me.
It will start with the creation of a “new sustainable finance architecture which will rate the climate impact of different investments”.
Those that don’t fit the government model will find it much harder to gain capital. Then comes “impact” investing looking at a social purpose economy in areas like aged care, education and disability but broadening to other areas of government policy.
These chaps would take a forty year worn out harlot from Kings Cross, dress her up and present her as Australia’s Mother Theresa.
The dopes think they can make a command economy work where Russia, Rhodesia, Venezuela and others failed.
Remarkably, Paul Keating is alive to see this folly.
No Minister 
When a government directs private capital in this way, isn’t that called fascism? Asking for a friend.
This whole directed capital “ESG” thing worked so well for Sri Lanka, they must be on to a winner.
Is there a huge difference, they will need someone to blame soon enough.
It is called statism. Done correctly, it can work. China and Singapore are two examples.
I’m fairly sure that when the communists of Cuba, Zimbabwe and Venezuela announced their plans for the economies of their respective nations they scoffed at critics saying it was just what had been tried and failed in the USSR and 1949-1980 China, instead claiming that it was “Socialism with Cuban / Zimbabwean and Venezuelan characteristics”.
It is just another example of the sad decline as the Western World disappears up its ass.
In some ways you are fortunate, you are utterly clueless as to the train coming down the track about to squash you flat.
Ignorance is bliss so they say.
Andrei, I suspect you are correct but there is still a set of points we can adjust should enough grab the handle.
Paranormal, surely the label is Communism, Stalinism or Maoism. “Socialism” is communism for pooftas.
Oh no Andrei, maybe we’ll just have to adopt the Russian kleptocracy model and allow us to be ruled by a corrupt dictator.
Sure that’ll work or maybe the Chinese model in which the wheels are starting to come off now. Maybe follow the Iranian model and be ruled by bloodthirsty mullahs.
There are many models to chose from ie Cuba, Zimbabwe, Somalia or many other shithole countries that you clearly think are superior to the west.
Maybe you’re right but I certainly hope not.
Talking of clueless when are you going to see past your prejudices and admit the repulsive thug Putin is no master strategist?
Although he’s certainly proved very good at making war on women and children.
Fool – you live under a corrupt Kleptocracy ruled by corrupt dictators
How much tax do you pay?
Most of what you earn is taken as tribute from you by the ruling class and like the good little brain washed serf that you really are, you willingly bend over to be screwed over.
And while you are being sodomized the people shafting you are pointing their fingers at others and saying “hey – look over there”, to distract you from the fact you are being robbed of your birthright
But you don’t have to be Einstein to see that the whole Ponzi scheme that underpins the Western financial system is about to collapse and the rotting corpse that remains when it does will be extremely malodorous
I’ve said it before Andrei, if you hate us so much please go back and live in wonderful Russia.
You won’t of course because you wont want to give up your comfortable western lifestyle to live in a corrupt shithole.
Easier to stay here and chuck rocks at us knowing there will be no consequences to you.
Ungrateful coward
Wow. I’m going to love Christianity wedded to the CCP by vulgar geopolitics. But I’d bet that former KGB agents will love it too.
Hi Andre,
Welcome back, good to see your views here.
I guess 3 Frigates Mapp, or if you prefer “I shafted the National Party to advance Maori elites Mapp”, will put in an appearance soon too?
In the meantime, while we await the 3rd coming of Mapp any chance you could lay out the new world order as you see it, for us.?
A couple of paragraphs would be fine, dont need the detail.
The Apartheid South African government tried this to foster economic development near where they wanted black people to live (which was typically in places devoid of economic activity) subsidies were offered to companies willing to have a presence in these areas, when the subsidies dried up, so did the companies involvement.
Command economics by any other name.