With the stock market this month resembling an Irish dancer’s feet (and you’re free to read into that metaphor what you will – bouncing up and down, getting toey or plain old stinks), the economy seemed an appropriate target for this OUTinPerth’s political columnists this month. Here’s one member of the Greens take on the economy…
‘It’s the economy, stupid!’ – Bill Clinton’s catchphrase now haunts Australian election campaigns.
The economy is often talked about as though it is an end itself – and that the interests of big business are the interests of the whole community. The Greens believe the economy is there for the benefit of all of us. What is the point of ‘a great set of numbers’ if they don’t translate into the broader wellbeing of our community?
Our economy is going well but not everyone is benefiting. There is a crisis in housing affordability, and crucial public services in education and health remain under-resourced. The wages share of gross domestic product has fallen in the last decade while the profit share has increased.
Recent election campaigns have been fought on perceptions of the economy and economic management. This has rarely been about the reality of how our economy operates, but has tied into people’s fears about economic hardship in the future. The Coalition’s scare campaigning on interest rates at the last federal election is a case in point.
Interest rates have increased five times since that election. The Howard government wants to take all the credit when interest rates stay low, but is quick to (wrongly) assign blame to the states if there is an increase. The fact is the Reserve Bank sets interest rates and the factors influencing rate decisions are largely beyond the government’s control.
Is the Coalition’s rollercoaster approach to government spending, with years of cutting back services followed by pork-barrelling in the lead up to the election, really ‘good economic management’?
This short sighted approach creates problems which become increasingly more expensive to solve. An example of this is, of course, climate change. All the credible academic work on the effects of climate change states that we have to start acting now. Investment in addressing climate change now will reduce the myriad of economic, social and environmental costs into the future.
A Green economy would see investment in renewable energies which will provide new economic opportunities and jobs as well as addressing climate change. At this time of economic boom Australia has the ideal opportunity to invest in new industries to provide for a sustainable future.
The Greens advocate an equitable taxation system that generates the revenue necessary to fund public services, and a long term economic perspective which considers the needs of future generations. It is possible to provide fairness and equity in the workplace as well as a sustainable economic future.
As Bob Brown said in his budget reply speech this year, ‘Prime Minister Howard still thinks politics is a fight between the economy and the environment. It is not. World’s best practice shows that good environmental policy is fundamental to good economic policy.’
Indeed the same could be said about the economy versus social policy. Don’t forget the Coalition is the party that is yet to be convinced about equality for the LGBTI community because it might cost too much!
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Who are our mystery political columnists? Well, we can reveal… not much. They’re political insiders. Do we want them censored by their parties? Well frankly, no. Hence the anonymity. Passionate, queer party people all – they’re here to provoke thought, rant and rave and get us all in the mood for a bit of election biff.
