Is it possible to have discussions about the economy without resorting to politics? First of all the economy has to work. No amount of ideolgy, insults and pure dogma are going to change anything.
It is like argueing about whether to drive Darwin or Melbourne. You are not going anywhere until you have a vehicle that works. When we have an economy that works we can decide where we want to go, but until then all this poly talk means fixes nothing.

Greg
This is conclusion based on obsolete ideology looking for a justification.(political spin) try shock jocks and talk back radio
Daviy is correct this is just empty poli rhetoric.

Ronald Reagan got the politics right when he said: A recession is when your neighbour loses his job; a depression is when you lose yours.

The last comment "consumers will be worse off" says it all. We are now to be known as "consumers", our activity within the economic structures confined to this activity, and all other functions and aspects of our lives invalidated. Thankyou Greg.

The consumer is the little player or victim, not often the fall guy. Fall guy in the financial crisis is the union, or government. Business will lobby the government for money, its happening here with the foreign automakers, our people being punished for choosing the most efficient or best value car, not an overpriced shed on wheels. There will also be government financing of property developers, commercial property owners and speculators.

Can I get a cheap loan too, on soft terms? Or don't I have mates in high places?

No Greg, you are not "exaggerating to say that the global economy will strangle itself if it returns to the bad old days of heavy state regulation and intervention because powerful lobby groups, be they union, business, or environmental, will do what they used to do in spades - ensure that through their seducing politicians, Joe Public is ripped off through poor service, high prices and reduced income levels.

Greg, these strangulation policies are everywhere in Australian State Labor Governments and their councils, you just have to look at the lost productivity within the restrictive land use and release policies on their way to deliver a poorer society which labor green left and their willing wonks have now delivered "on purpose".

And yes, they will run away again, with their super in place, at the nearest sound of these polices catching up with them.

Where can you find results of the so called competition reforms under labor? Nowhere except higher prices and prescriptive social planning, and not a Fitzgerald tweak to be found. As yet, silence is golden on political front, the heat is building in the kitchen and left green labor can only throw more fuel on the fire to try and cool things down.

Well, yes, but then again, no.
"The mooted return of large-scale government intervention in economic life, a knee-jerk reaction being promoted by politicians and anti-globalisation advocates against the failure of poorly regulated financial markets..."
Do you therefore, Mr Barns, advocate better regulation of the markets?
Surely not by new or larger govt. departments?
I fully agree that it is incredibly irritating how the very people who protest the loudest about gov. intervention in the good times, seem to be the first to seek intervention when it all turns to mush.
It seems to me, this house of cards was based on way too much credit (borrowed money).
Difficult to see how creating more credit is going to be a good thing.

Greg Barns has done an 180 deg about face to his usual leftist rants.Well ,this time he is right.We don't need more Govt regulation,just get rid of the parisites at the top of the food chain,eg the US Fed Res,Rothschilds,Bank of England,Bank of Japan,IMF,World Bank,JP Morgan,Bank of International Settlements and most of us will be free.We are in debt slavery and our Govts are making it worse.

Not so long ago, I used to be quite left politically. Having done a political degree at university (and being a newspaper journalist!) I took it as given that 'rights' such as maternity leave, high minimum wages and all manner of government market interventions were the only way to control those greedy, ruthless business people.
Then I married a small business person.
Now a party to the incredible strains of business - the interminable hours, the whackloads of tax, not to mention the increasing demands of government regulation relating to tax and wage accounting - you honestly have to wonder why most small business people bother at all.
Government policy is sure to be very different, if it was a job requirement that politicians needed to have been involved in small business for some years prior to their 'political calling'.
Party and union hacks, such as Julia Gillard, seem bent on furthering political vendettas, based largely on prejudicial ignorance, rather than producing policy that actually makes sense.
Sometimes, the thought occurs to me that if my husband dies of a premature heart-attack, brought on by overwork and stress, that I should sue the government.
By the way, on a per-hour basis, our newest and most junior staff member is better paid than their professional uni-trained boss.

I am with Davity here: Lets stick to the economy and leave tribal rivalries out of it.
The problem was caused by uncontrolled credit, lack of transparency and profiteering in the financial industry.
The "banker tax" of financial profits has simply increased to unsustainable levels, eventually requiring the use of "sub-prime" lending to feed the beast. Loaning to people who cannot pay it back? Predictable disaster. (I moved my super funds 12 months ago).
There is only so much to go around. By allowing multi-million dollar incomes to keyboard jockeys whilst farmers, factory workers and engineers went backward, the economy was clear felled.
I'd like to see the media use the word "profiteering" again. When the crooks profit, everyone else loses.
(I know, the media is the propaganda department for big business so it is not going to happen.)

Pity we have not seen the 'let them eat cake' attitudes by those pushing derivatives from one column to the next, result in the equalising treatment of a guillotine on Martin Place!
"It is true that the global economic crisis and the debt bubble that preceded it did not deliver on many of the promises made by defenders of globalization and market forces. Instead it was one of the biggest misallocations of resources in history; to housing and consumption that either was not needed or really could not be afforded [powered by the flexibility of self-regulation]."

"[Rudd] said free market fundamentalists were now turning to governments to rescue them from the crisis of their own making.
Mr Rudd's new mission appeared to be one of high taxes, big government, and socialism, Mr Turnbull said. He said it was appropriate to improve the regulation of markets, but Australia's market was already well-run, as evidenced by the lack of a sub-prime housing crisis here.
Mr Rudd hit back.
“Mr Turnbull argues that the free market should sort all these problems out, well that failed spectacularly with the global financial crisis,” Mr Rudd said."

Companies that demonstrate a shareholder focus should not be helped. Only companies that treat shareholders - and their management agents or vc - equally along with customers, employees and the environment should be assisted, and stringent governance insisted upon.

A more eyeballs approach tends to work, let the sun light shine on back room deals! Transparency, it is good for everybody!

Now that seemingly finding funds to sort out banking buddies and corporate risk takers is no issue, how about helping the masses through education, good transport and other infrastructure, health care ... not so sure the haves need looking after!

But you can join the dinosaurs now, just provide GeneBase with your DNA, and they will let your insurance company handle the rest ... a whole new meaning to 'become part of history'!