— ABC The Drum (@ABCthedrum) April 19, 2017
My latest article to appear in the Sydney Morning Herald and across Fairfax…relates very closely to the ‘kicking up versus kicking down against globalization’ article from a couple of weeks ago.
As a hapless Malcolm Turnbull tries to hold a fragmenting Liberal Party together, commentary focused on individual failures is overlooking that a once in a century political realignment is occurring.
Putting cuurent events into long historical context of the last couple of hundred years.
Every 50-100 years we see the kind of realignment happening at the moment…..
Coles and Woolies dealings with the farmers is a powerful case for the ‘long chain economy’.
In the last week we have seen debates about the Murray Darling Basin, the backpacker tax, yet another story about foreign workers being underpaid on farms, and abuse of market power laws that impact on the power struggle between farmers and supermarkets.
These debates have all been treated as separate issues, when in reality they are all about the same thing. They are all about how money is distributed along the food production chain. Continue reading “Coles, Woolies & the Long Chain Economy”
To attack economic inequality at its source we really need to take on what I like to call ‘profit bludging’.
There are some businesses out there that have a great idea, and find a way to turn cheap resources into a product people really value. These are the wealth creators in our society. They make a healthy profit, and so they should. They have made a contribution to our collective well-being.
But then there is our anti-hero. The profit bludgers. These are the businesses that boost their profits in ways that don’t add to our wealth at all. They are not making the pie bigger, they are just taking a larger share of the pie. Continue reading “Profit Bludging and the Long Chain Economy”
We often describe ourselves as a free market economy, but is the free market really what is driving our wealth? Or are markets just a small part of the picture, obscuring the much bigger driver of our prosperity. Continue reading “Free markets or long chains? The real driver of wealth”