Economic Rationalism discussion by the Retired Unionists Association

In a discussion around economic rationalist policies the group outlined the following items as issues to be addressed and acted upon.
  • Need to convince Australians that it is economic rationalist polices that are the cause of their discontent
  • When, and only when, the bulk of the population have a clear understanding of what economic rationalism means can change occur, providing Australians take appropriate positive action so that politicians can be motivated into introducing beneficial change for all Australians
  • A priority must be the establishment of a publicly owned 'people's bank' with service, not greed, as the important factor in its function.
  • A complete overhaul of our trade policies. Trade policies must not be determined by unelected global organisations. OECD economic outlook analysis on tariff and non tariff barriers shows the level of protection in key economies:
    Australia -0.75%
    Japan - 10.755
    USA - 16.8%
    Canada - 10.4%
    EU - 19.1%
  • Governments to give positive encouragement to the establishment of Australian or government owned enterprises. All government purchases, if available, be made within Australia with a bias towards Australian owned companies.
  • All work that can be carried out successfully within Australia should be.
  • Governments should ensure when awarding mining concessions that value adding must apply to the minerals mined for that concession to be granted.
  • No further privatisation of publicly owned enterprises and a ban placed on Australian owned enterprises being sold to foreign investors. Australia's corporate sector is now between 60-80% foreign owned:
    UK - 10.5%
    USA - 10.3%
    Japan - 2.15
    EU - 3.5%
    (Owner/Driver magazine, 2/3/01)
  • Government to implement a Telstra but back program.
  • All international treaties, or proposed agreements, must be open to public debate and then subject to referendum.
  • An end to economic rationalism in all its forms.
  • A more equitable tax system i.e those that earn the most pay the most and all tax loopholes and tax minimising schemes be declared illegal as well as an end to the GST.
  • A single superannuation scheme applying to all employed and self employed persons as well as politicians with the funds invested in viable and thoroughly evaluated greenfield enterprises. - $400 billion currently invested in superannuation funds.
  • Overseas borrowing be restricted to the purchase of essential machinery or equipment, not available in Australia, necessary for economic growth.
  • Reduction of our international debt by the importation of essentials and an empahsis on exports. Australia's international net debt as at June 2000 was $26 813. Currently in excess of $300 billion. (RBA report June 2000).
  • A more compassionate and civilised approach to the old, infirmed and the financially disadvantaged by governments.
  • More government owned and controlled state of the art nursing homes for the elderly.
  • Adequate funding for public schools, collages and universities. All persons, with the appropriate scholastic abilities, should have access to any learning institute and should not be denied because of their financial position. Education in all its forms is a right not a privilege.
  • Adequate funding for hospitals, medical services and welfare sectors.
  • The elimination of racism in all its forms. A public acknowledgement of past injustices perpetrated on indigenous Australians.
  • The right of workers to free association. All or any penal clauses or restrictive clauses to be deleted from all awards, agreements etc. Abolish AWAs, emphasis placed on industry bargaining unlike business and corporations that can adjust their charges or prices with impunity, workers have very few alternatives with strike action being one. The right to strike is therefore essential.
In 1947 at Mont Pelerin in Switzerland, a conference was held comprising the conservative sectors of the UK and the USA that supported neo liberalist policies.

A key player at that conference was Professor FA Hayek who was subsequently elected as President of the Mont Pelerin Society. Professor Hayek was appointed to the London School of Economics in 1931. Part of his address to the society members is as follows:

'If there is to be any hope of a return to a free economy the question of how the powers of trade unions can be appropriately delimited in law as well as in fact is one of the most important of all the questions to which we must give our attention.'

  • The Defense Legislation Amendment (Aid to Civilian Authorities) Bill 200 must be repealed
  • A bill of rights