The Forum > Article Comments > Inequality and growth > Comments
Inequality and growth : Comments
By Matthew Smith, published 31/7/2017The recent public concerns raised by Bill Shorten, leader of the Labor opposition, and others, about the widening income inequality in Australia is not before time.
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Thanks for a great article .
Those organisations that base their business model on more people , appear to have a simple outlook ....uncluttered by environmental constraints and visions of social equality and a high standard of living , for all .
But how does the growth paradigm become dominant in our Govt thinking ?
Especially so when you consider the creditor nation Denmark , with a basically stable 5 million people exports all over the World .... achieved by investing in research and manufacturing rather than the tragic Australian design of investing in more people and pollution .
Well , bankers , property developers, infrastructure companies, an army of consultants such as KPMG ( Bernard Salt ), etc etc ... all base their business models on the windfall profits of population growth ......
These windfall profits are funded either directly or indirectly by selling Government assets and by massive Government borrowings.
They are also funded by the banks sourcing overseas , a $100 billion per year , which is then on-lent , as inflated mortgages to Australian borrowers .
But at the same time that there are billions for growth and the real estate industry; there is "no money " for the CSIRO , TAFE , Universities or for retraining displaced workers .
A malevolent result of the Opportunity Cost of Investment .
..... continued