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Australia is a giant plutocracy

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That would be absolutely true and as you inferred, it is through all walks of politics.

How many ex politicians, from "normal" backgrounds, end up in extremely well paid board positions after retiring from politics.:eek:
 
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Has been this way for a very long time. We're not quite caught up with the USA in some respects, but definitely heading that way

I fully recommend reading matt Tabbi's The Divide. It's a real eye opener on the dual legal system in the USA - one for the rich and one for the poor and non white. There's also some interesting info on the GFC and just how corrupt things have become.

When you have the likes of HSBC laundering drug cartel money and not a single individual paying a fine or ending up in prison, you know the system is broke. The Libor scandal and only companies fined. Not a single individual facing jail time or a personal cost. The list of corporate malfeasance around the world seems to be a weekly event, but when does an individual actually suffer the consequences of their actions?

We have a trade minister who's happy to have an oligopoly economy:

"We are an oligopoly community. We shouldn't fight it. We should make the most of it. It does provide us with the critical mass and the size and innovation and for that ability to compete with overseas countries,"

Not much will change when those in power are actively supporting the current system.

What does a $22K a year membership to the North Sydney Forum provide those who can afford it? Exclusive access to the treasurer and other senior ministers. I wonder how long a constituent would have to wait before getting any face time with Hockey? Pay $22K and you get 10 boardroom events, policy forums, even a private VIP boardroom event. Money certainly makes it easier to have your voice heard.

You see it with Qantas and the Chairman's lounge. Every federal politician gets membership, along with the C class at major corporations.

Either the plutocrats head the warnings from Buffet, or eventually they'll have to turn Australia into a police state to keep the peasants from revolting.
 

Tisme

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Normally oligarchs are smart enough to keep their heads down. But now and again their political puppets are so awkward and stupifying that logic says the ruling elite are getting sloppy or cocky .... I think the OP is onto something.:rolleyes:
 
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pretty much sums up what those donations are all about

http://www.sciencedirect.com/science/journal/aip/01475967

aust plut.PNG

https://www.washingtonpost.com/news...re-bad-for-growth-and-others-arent/?tid=sm_tw

You might be used to hearing criticisms of inequality, but economists actually debate this point. Some argue that inequality can propel growth: They say that since the rich are able to save the most, they can actually afford to finance more business activity, or that the kinds of taxes and redistributive programs that are typically used to spread out wealth are inefficient.

Other economists argue that inequality is a drag on growth. They say it prevents the poor from acquiring the collateral necessary to take out loans to start businesses, or get the education and training necessary for a dynamic economy. Others say inequality leads to political instability that can be economically damaging.

A new study that has been accepted by the Journal of Comparative Economics helps resolve this debate. Using an inventive new way to measure billionaire wealth, Sutirtha Bagchi of Villanova University and Jan Svejnar of Columbia University find that it’s not the level of inequality that matters for growth so much as the reason that inequality happened in the first place.

Specifically, when billionaires get their wealth because of political connections, that wealth inequality tends to drag on the broader economy, the study finds. But when billionaires get their wealth through the market ”” through business activities that are not related to the government ”” it does not.
 
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