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Economic complexity beyond rational management : Comments
By Marko Beljac, published 4/3/2009We need to re-structure Australia's economy towards more value added industries and the development of 'the knowledge economy'.
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How long would it take a farmer to produce $5M in food? What about a skilled tradesman or computer programmer? How long does it really take to "make" the $5M that execs take home every year?
Years of productive effort by real wealth creators in the economy have been sucked up by company executives in financial companies.
You can't have thousands of execs, share traders, etc making $Billions whilst at the same time off-shoring all your industry and putting farmers into poverty.
The financial industry and the super-rich have taxed the economy to it's knees. Ironic now to watch the "small government" Neo-Right scramble to get taxpayer funds to keep the right to make profits. (the Right don't mind government spending, just not on the poor!)
The financial wizardry amounts to creative accounting, which can be attributed to a lack of legal guidelines. Sadly, the only ones who know what laws to introduce are also the ones gaining from the lack of laws.
Once again, the poodles in government are being led by the wolves in big business.