Treasurer Jim Chalmers’ push to remake capitalism channels the ideas of progressive economist Mariana Mazzucato, who advocates government playing a leading role in investing in innovation in partnership with business.
Treasurer Jim Chalmers’ push to remake capitalism channels the ideas of progressive economist Mariana Mazzucato, who advocates government playing a leading role in investing in innovation in partnership with the private sector to improve humanity.
Professor Mazzucato is an Italian-American economics academic who has agitated to reshape the free-market system to deal with climate change, poverty and other social problems. She has criticised cuts to social services and public investments in the United States and United Kingdom.
“We need to think bigger and mobilise our resources in a way that is as bold as inspirational as the moon landing – this time to the most ‘wicked’ social problems of our time.”
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‘Pushing policy more to the left’: Jim Chalmers pens essay on Australia’s economic futureTreasurer Jim Chalmers has produced an essay which appears to discuss more about intervention and pushing the economy in directions the government wants on issues like clean energy, according to Sky News Political Editor Andrew Clennell. “The Australian Financial Review editorialised against this essay this morning with the rather blunt headline that ‘Chalmers' new manifesto ignores all the lessons of Hawke and Keating’, suggesting Mr Chalmers was taking up a kind of socialist agenda,” Mr Clennell said. “I do feel that generally speaking, there is a little bit of tension between Anthony Albanese and Jim Chalmers, with Chalmers pushing policy more to the left than Albanese. “There is a view in the Labor Party too that Mr Chalmers no doubt has an agenda to appeal to the Labor Party membership in order to one day get their votes for the leadership.”
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Jim Chalmers joins the global backlash against free marketsSupport for free market orthodoxy is waning, but companies will be hoping politicians take the Biden approach of subsidies, rather than the Albanese approach of dictating prices, writes Karen Maley.
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Chalmers plans ‘more taxes, red tape and spending’, Taylor saysShadow treasurer Angus Taylor says Jim Chalmers’ manifesto to remake capitalism is a throwback to the “chaos” of the Whitlam era, while other observers gave more positive reactions.
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Climate policies ‘impoverish a country’: Chalmers’ dream to reinvent capitalismSky News host Rowan Dean says climate policies will “end up impoverishing” Australia amid Treasurer Jim Chalmers saying he will “remake capitalism”. “Very dangerous warning signs in what Chalmers is announcing,” Mr Deans said. “He’s going to include a new taxonomy to label the climate impact on different investments – this so called ESG. “The other thing they’re going to look at … climate credit scheme where you don’t look at the credit rating on something, you look at its climate rating. “We’ve seen it in New Zealand under Ardern, complete failure there – these policies always end up impoverishing a country.”
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An ‘attempt’ to return to ‘old failed models’: Chalmers’ aim to ‘remake capitalism’Sky News host James Morrow says there is an attempt to return to 'the old failed models” in Australia following Treasurer Jim Chalmers saying he will “remake capitalism”. “We’ve seen it with gas, coal, we’re seeing it with energy,” Mr Morrow said. “But look out – we’re going to see it happening with housing, food, we’re going to see it happening with every sector of the economy. “You know what they’re going to do – they’re going to use industry super funds to interfere with markets left, right and centre, all across the country and Australia is going to be the poorer for it.”
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