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"...public opinion deserves to be respected as well as despised" G.W.F. Hegel, 'Philosophy of Right'

"a future akin to Europe's present"? « Previous | |Next »
May 20, 2013

Moir's cartoon is pretty accurate by you would guess that from business and political journalism. As we know the media’s commercial interest masquerading as news is not new and that a lot of the commentary is PR-driven churnalism.

It's a situation of weakened media companies, reliant on corporate advertising, not only not scrutinising powerful business interests, but pretty much acting as the cheerleaders for the interests of Australian business opposed to modernization.

MoirAAbbottNo.jpg Alan Moir

The economic "analysis" roughly works in terms of template. This can be seen in the columns of Peter Hartcher in the Fairfax Press. He ends his Seeing sense as end nears thus:

And in the longer run, Australia's public finances will be a problem. As the population ages, we face decades of severe strain and a future akin to Europe's present. It was a happy week for Australia because both sides of politics contemplated having to take responsibility for their decisions.

The template is this: We cannot afford the welfare state. Greece beckons. Austerity is the only way to avoid this catastrophe. Social democracy has to go as its goals can no longer be afforded.

Sitting underneath this template is the view that the path to prosperity is the extraction of mineral resources and growing grain and fibre with very light regulation. It is a rejection of the social view of investing in human capital, a digital economy and sustainablity.

| Posted by Gary Sauer-Thompson at 12:58 PM | | Comments (3)
Comments

Comments

Europe's future under 'austerity'.

http://business.financialpost.com/2013/02/14/austeritys-children-becoming-europes-lost-generation-raising-fears-of-new-crisis/

Abbott should read this - then again he and his advisers, when sober, probably have - its probably what they are aiming for, a vast unemployed pliant labour reserve.

And why wreck a perfectly good economy, for the vanity of a few
lunatics?

Christine Milne's much-neglected budget reply spoke so eloquently to the substance of the thread starter.