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Monday, 19th January 1998
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Archive of weekly features: [The Canberra Column] [Economic Rationalism]
Economic Rationalism
Today we start a weekly column on "Economic Rationalism".
Graham Strachan is the author of the excellent book, "Economic Rationalism, A Disaster for Australia", published by the Kalgoorlie Press. You may send Graham an email if you wish to enquire about ordering the book.
Graham was born in Brisbane in 1941, and was educated at Ashgrove State School and the Brisbane Grammar School.
He has degrees in Science (Univ Qld 1965) and Law (Univ NSW 1983) and is admitted to practise as a Barrister of the Supreme Courts of Queensland and New South Wales.
He has worked as an Animal Husbandry Research Officer, a Personnel/Safety/Training officer in industry, a Management Consultant, practising Barrister and professional Musician.
In the course of his work he has travelled throughout Australia, New Zealand, the Pacific Islands and Southeast Asia.
In mid-1995 he incorporated his present company, The Australian Institute of Business Philosophy, and now devotes his time to researching and writing articles, briefing papers and newsletters on politics and philosophy, particularly for the independent business sector.
Extract from our first weekly article on Economic Rationalism by Graham Strachan (appears each Wednesday):
"In his book “The Death of Economics”(1994), Paul Ormerod describes the appropriation of the word ‘rational’ to economic rationalism as ‘a propaganda coup of the highest order’. It carries the implication that any criticisms of it, or any alternatives put forward, are by definition ‘irrational’, and hence not worthy of serious consideration [p.111-2]"
Pixie Skase revels the truth about the missing millions.
A bugged telephone call between Pixie Skase and others has revealed some astonishing facts about the millions illicitly held by Australia's most wanted fraudsters. The phones at La Noria, the Skase's home on the island of Majorca, were bugged by unknown private detectives - and the tapes sold to Australian magazine Women's Day.
In the various conversations Pixie says that she will be transferring Au$320,000 to her daughter Alex Buckham, and "Christopher (Skase) says that he will take half of that."
She tells Alana Hamilton former wife of singer Rod Stewart that she plans to build " house with a view of the water up on a cliff. I've identified the land and by next year, because I mean I would adore to be able to look at that, the sunsets and all of that."
Skase is officially bankrupt owing hundreds of millions to bankers and "mums and dads" shareholders who were left destitute when his company Qintex collapsed in the late 1980s.
The media-inspired fallacy continues.
Today News Limited's Courier Mail carries an article which gives a reprehensible twist to the fallacy that Pauline Hanson and her One Nation policies are racist. It accepts the lie as truth and then goes about painting Hanson as some sort of ignorant martyr taking on our sin....
The article and my comments can be seen here.
"For Cotes to say, “So no matter how much we protest when Pauline Hanson spits out her racist bile, deep down we have the uncomfortable feeling that somehow she is speaking for us.” reveals the unethical manner in which journalists have, themselves, created a fallacy which they now continue to perpetuate like some living spitting pole that their masters (Rupert Murdoch and family) have identified as anti-establishment and to be reviled at any cost."
Who needs the multinationals?
Anti-MAI newsletter:
DISARMING THE MARKETS
by Ignacio Ramonet
The hurricane that has hit the money markets in Asia poses a threat to the rest of the world. The globalisation of investment capital is causing universal insecurity. It makes a mockery of national boundaries and diminishes the power of states to uphold democracy and guarantee the wealth and prosperity of their peoples.
Financial globalisation is a law unto itself and it has established a separate supranational state with its own administrative apparatus, its own spheres of influence, its own means of action. That is to say the International Monetary Fund (IMF), the World Bank, the Organization for Economic Cooperation and Development (OECD) and the World Trade Organization (WTO). These four powerful institutions are unanimous in singing the praises of "market values", a view faithfully echoed by most of the major organs of the media.
This artificial world state is a power with no base in society. It is answerable instead to the financial markets and the mammoth business undertakings that are its masters. The result is that the real states in the real world are becoming societies with no power base (1). And it is getting worse all the time.
The WTO, which took over from GATT in 1995, is now an institution with supranational powers, subject to none of the checks and balances of parliamentary democracy. If a case is referred to it, it has the power to declare national legislation on employment, public health or environmental matters "contrary to the interests of free trade" and insist that it be repealed (2). And, in OECD, beyond the reach of public opinion, a very important agreement called the Multilateral Agreement on Investment (MAI) has been under negotiation since 1995 and is likely to be signed in 1998, giving investors full powers vis-…-vis governments.
The task of disarming this financial power must be given top priority if the law of the jungle is not to take over completely in the next century.
Some $1,500 billion change hands on the world's money markets many times every day in speculation on exchange rate variations. This instability is one of the main causes of the rise in real interest, which acts as a brake on consumer spending and industrial investment. It increases national debt and encourages pension funds handling hundreds of billions of dollars to insist that firms pay ever higher dividends. The first victims of this quest for profit are of course the employees. They are laid off in shoals to improve their erstwhile employers' ratings on the stock exchange, which go up by leaps and bounds. How long can society continue to put up with this intolerable situation? The time has surely come to put a stop to these destructive movements of capital. There are three ways to tackle the problem: close down the "tax havens", increase tax on unearned income, and levy a tax on financial transactions.
Tax havens are enclaves where the banks' code of confidentiality reigns supreme, providing a convenient cloak for embezzlement and other criminal activities. Hundreds of billions of dollars are stashed away out of reach of the tax authorities for the benefit of powerful individuals and financial institutions. All the major banks in the world have branches in tax havens and make a tidy profit out of their activities. Why not, for example, declare a financial embargo on Gibraltar, the Cayman Islands or Liechtenstein by prohibiting banks that do business with the public authorities from opening branches there?
The power to levy taxes on unearned income is a sine qua non of democracy. Such income should be taxed at exactly the same rate as earned income. But this is not the case anywhere, least of all in the European Union.
Absolute freedom of movement for capital undermines democracy and we need to introduce machinery to counter its effects. One such mechanism is the Tobin tax, named after the Nobel prize-winning American economist who suggested it back in 1972. The idea was to impose a modest tax on all exchange transactions, to stabilise the markets and generate revenue for the international community. At 0.1%, the Tobin tax would bring in some $166 billion a year, twice the annual amount needed to abolish the worst poverty by the end of the century (3).
Many experts have said there would be no particular technical difficulty about introducing this tax (4). It would spell the end of the liberal dogma subscribed to by all those people who love to tell us that there is no alternative to the present system.
Why not set up a new worldwide non-governmental organisation, Action for a Tobin Tax to Assist the Citizen (ATTAC)? With the trade unions and the many social, cultural and ecological organisations, it could exert formidable pressure on governments to introduce this tax at last, in the name of universal solidarity.
(1) See Andr‚ Gorz, "MisŠres du pr‚sent, richesse de l'avenir", Galil‚e, Paris, 1997; also the paper given by Bernard Cassen at the symposium on Social Democracy and Globalisation organised by the Parti qu‚b‚cois and held in Quebec on 27-28 September 1997. See also the study entitled "Le D‚sarmement financier", produced by the Lisbon Group under Riccardo Petrella and shortly to be published by Labor, Brussels.
(2) See Fran‡ois Chesnais, "La Mondialisation du Capital", Syros, Paris, 1997 (new and enlarged edition).
(3) Rapport sur le d‚veloppement humain 1997, Economica, Paris, 1997.
(4) See Mahbub Ul Haq, Inge Kaul, Isabelle Grunberg, "The Tobin Tax: Coping with Financial Volatility", Oxford University Press, Oxford, 1996. See also Le Monde diplomatique, February 1997.
Making the
news" -
Australian Labor Party in total disarray.
The weak leadership of Kim Beazley is pushing the ALP into a state of total disarray as the President, Barry Jones, gets involved in an open public brawl with his contender, Greg Sword.
The events do not auger well for Australia's most demonstrably violent party with further tensions being raised by state ALP opposition leader Peter Beattie who wants Beazley to review his answer to Wik. This move aimed, aimed at shoring up his failing vote in the bush before the next state election, drew this comment from the ALP leader, "I don't have a particular problem with Peter Beattie's concerns except that they reflect my concerns in the relation to the way in which the issue is now being debated."
This after, just a few months ago Beazley called Prime Minister John Howard a "racist" because of his ten point plan on Wik. But of course as Beattie is a member of the ALP that halts the use of that tag being thrown at him by either his leadership or the media.
Last week Deputy Prime Minister Tim Fischer threw his cap in the ring saying that Labor Senators would abstain from voting on the ten point plan over Wik in the Senate when it went before them again this year - to avoid the likelihood of a double dissolution.
The comment drew this response from Beazley yesterday on Channel 10's Meet the Press programme, "Of course we'd discipline any senator who abstained on a matter that the caucus has determined, but this is baloney."
Finally, now that Wayne Goss has stepped from the political arena Beazley said that the Oxley branch should be left to determine who the successful candidate should be. Like all things to do with the party a major brawl is brewing with Anne Scott and others like Bernie Riploi fighting openly over selection for the seat currently held by Independent Pauline Hanson.
Subject: There's that phrase again.
Dear Sir,
Barry Sampson Searle showed us in his comments yesterday that he is one of the well groomed politically correct products of the New World Order. A perfectly compliant human being, perfectly cloned. All you do is wind them up and they run around bleating crap like "a bit mean spirited" to distract the masses while our country is being ripped off around us.
As for Wayne Goss, personally I just group him with all the politicians, bankers, business people, clergymen, multi-culturalists, republicans, do-gooders and bleaters that have either participated in, or stood by while our country was savagely raped and then sold of to the highest bidder.
If that sounds "a bit mean spirited" you are correct. It was meant to be.
Allan W. Doak
Subject: Independent for Blair.
If Barry Searle is a REAL candidate for BLAIR there is one candidate I will put next to the major parties at the bottom of my card. Is he suggesting that if someone is sick or having it tough they shouldn't be investigated for possible crimes alleged against them. Will he express the same sentiments for Christopher Skase, or those eighty-odd year old ex-nazis from world war 2. While I am on line. I have always supported independent representation against the major parties. But lets not be fooled by those "PUT-UP" INDEPENDENTS mere stooges to confuse the voter and pass all their votes up to the major parties. Be prepared for lots of these in any electorate where One Nation or Australia First is contesting. It is certain that the established parties will get lots of free help by the Media. We cannot be complacent. We will need lots of money for advertising. Don't be surprised If the TV stations say sorry. We are full up. There is always the Internet, someone said; but that is easy to close down too. Don't the MAI companies own all the communication links?
Philip Madsen
Subject: Comments on Australian News of the Day
RE: NOW CHINA DOWN THE TUBE!
Could it be that another materialistic system that is based on so much speculation is nothing more than castles made of sand? The reality of existence on this plane of illusion is always such that things will decay. How much wealth is enough and how much power is enough? Many before us have tried this path and failed The history of mankind is littered with failed civilizations, so if things are to change there must inevitably be a phase of uncertainty and unknown out of which a new dawn, a new horizon will become apparent.
One thing's for sure- as the great Christian Master teaches...love your neighbour...(because he might just want to eat ya!)
Nice pics
of Heidi Lewis's birthday party...but just who is that geek dancing the 'funky
chicken' with Pauline Hanson and just how did he get past security?
Independent Candidate for the Federal Seat of Blair?
mm!
Barry Sampson Searle
That "geek" is yours truly... as if you didn't know Barry!
As an aside to our readers Barry is the Editor of the local Bulletin paper - famous for his coverage of the mysterious burning combi... late last year...
Editor
Subject: multiculturalists banning Santa Claus
Dear Sir,
First of all, I wish to express my deepest condolences.
I just finished reading your speech regarding “multiculturalists banning Santa Claus is just the beginning”. 31st December 1997, really you are a brave woman, God bless you.
I understood from your speech that you are intend to visit South Australia next February, I hope what below would help you.
Al-Azhar teaches hatred towards non-Muslims “of course the non-Muslims are the Egyptian Coptic Christians..”. A religious opinion on how a Muslim should treat non-Muslim workers.. “and this exactly what all Muslims believes, including that creature Wali Hanif this representative of the South Australian Islamic Society
The Egyptian government has created a parallel system, al-Azhar, paid for by all taxpayers, but would accept only Muslims as students or staff. This Islamic university and schools teach Islamic religion as well as courses of science mixed with hatred towards followers of other religions. In the past ten years the government surrendered to al-Azhar university, the right to censor films, books, plays, and academic papers. The al-Azhar also took upon itself the responsibility of issuing Islamic religious opinions. These opinions, although they are meant to be human, but to simple-minded and devout Muslims, are taken to be direct orders from God. Some of these opinions are so dangerous in what they teach , that it is no wonder Muslims have that much of hatred towards non-Muslims. The following is an example of a religious opinion , published in the Egyptian newspaper "Almisaa", on Dec.14, 1997, in a column titled, "Esalou Ahl Elzikre" (Questions to people of prominence) .
The question was about the opinion of Islam in regards to having a non-Muslim servant in a Muslim home. The answer came from Sheik Zakaria Ahmed Noor, general superintendent of admonishment in al-Azhar. This is what he said: "There is nothing wrong in that, women in the household must not avoid contacts with the non-Muslim servant. However, they should not treat her as equal to a Muslim servant. They should hate her in Allah. They should return her to her family if she doesn't convert to Islam, because she will be considered a corrupting element to their children, who will be affected by her non-Muslim doctrines. It is a must that all Muslims don't use anybody but Muslims as maids or in any other kind of work. I ask Allah to enable Muslims to get rid of non-Muslims and to avoid their evilness."
Now, we are not talking here about a terrorist. This is (supposedly) a moderate man who occupies a high official position, who represents a legitimate religious establishment, controlled by the government, and paid for by the tax-payer. Look at his views on non-Muslims! With moderates like this who needs extremists! No wonder Christians are discriminated against in employment and promotions, and in having equal opportunities with Muslims.
My best regards and God bless you.
Ray Martin, USA
Subject: Post to the Editor re; Nuremberg trials
The call by The New Citizen Jan/Feb 98 for Nuremberg trials for crimes against humanity perpetrated by Jeff Kennett, John Howard, Peter Costello, Ian McLachlan, Peter Reith, Rod Kemp, Dr David Kemp, Dr Michael Wooldridge, John Gough, Des Moore, Elisabeth Proust, members of: the Mont Pelerin society; Centre for Independent Studies; Institute for Public Affairs; HR Nicholls Society; AMA; Treasury; ANZ Bank; Aetna Health; Health Maintenance Organisation; CS First Boston; The Tasman Institute; Mayne Nickless... the list goes on and on - will take place in time, and maybe sooner than later.
If the present financial debacle is a harbinger of the big one yet to come, and it leads to the inevitable war predicted by Nickolai Kondratiyev; then at the conclusion of that war (or perhaps we can do it sooner), the trials must take place. now is the time to collect the evidence to be used.
Omega
Australia took three more gold medals in the swimming pool at the World Swimming championships in Perth yesterday.
Another perfect day in paradise.
Have a good one.
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