January was ‘thinking’ time.
Yes, we/I needed to absorb and contemplate the outcome of our Supreme Court action to require WorkSafe Victoria to do its job, that is to apply the law. We reported to you on this in mid-January.
But something else unfolded in late-2022 that made me think more deeply. The new Federal Labor government passed major labour laws that threw out the very laws that the ALP themselves made in 2009. And they went hard on regulations covering the gas industry. Some commentators referred to this as ‘quasi-nationalisation’. “What is going on?”, I had to ask. But a picture started to emerge—so fingers went to the keyboard.
Then on Monday last (30 January 2023) the Federal Treasurer, Jim Chalmers, released his own thought piece (6,000 words) called ‘My plan for the rebirth of Australian Capitalism.’
Goodness, the picture became stark. I’ve produced my own thesis called ‘The New Australian Socialist Experiment.’
Jim Chalmers talks of “…the beginnings of a new economic model” with “…a new values-based capitalism for Australia.”
He says that “…2023 will be the year we build a better capitalism, uniquely Australian” where “…we will create a new, sustainable finance architecture…”
The Australian reports that the Treasurer says he is “Foreshadowing a seismic policy shift …(where) Labor will ditch the free-market policy consensus that has steered rich countries over two generations.” In short, this is BIG. And the thinking over January has been worthwhile.
I offer you, then, a perspective on what’s going on. It’s not just what Treasurer Chalmers says that’s important, but what has already been put in place. This is a new socialism with Australian characteristics. And counter to the usual ‘reds under the beds’ narrative, socialism does not mean poverty. It depends. Hence I’m not seeking to debate the rights or wrongs but to understand the thinking.
My analysis is as long as the Treasurer’s (6,000 words) so I’ve broken it up into sections. And I’ve taken an additional step in opening an account with Substack, a platform for writers where you can access my analysis.
- I provide an Introduction and overview here.
And the detail covering:
- The socialists have captured capitalism.
- The labour market revolution; including the move against the self-employed.
- Quasi-nationalisation of business and changing key institutions.
The scale of what is occurring is major.
It’s important to understand, particularly if you are self-employed, your own boss, running your own business. I hope that my analysis and facts paint a helpful picture.