Issue
Melanie Sjoberg
Kernot's economic nationalism
Australian Democrat leader Cheryl Kernot says that the alternative to "economic rationalism" is "economic nationalism". But what does this mean? We can agree that the economic rationalist policies of Labor and the Coalition place little value on social, environmental and community interests, and are creating a more selfish and uncaring society. But what the Democrats propose won't reverse this direction. In her January 20 speech to the Democrats' national conference in Hobart, Kernot said the Democrats' "genuine alternative" comprised proposals to:- increase Australia's trade performance through sectoral industry planning (as in the vehicle and steel industries);
- oppose future privatisation;
- allow tax rebates on savings;
- limit overseas investment by superannuation funds;
- improve the labelling of goods to encourage buying Australian;
- campaign internationally for a 0.5% tax on foreign exchange transactions;
- tighten control over foreign investment.
[Melanie Sjoberg is the Democratic Socialist spokesperson on the economy and candidate for Hindmarsh in South Australia.]