Australia Fair by Hugh Stretton

By Hugh Stretton

One of Australia’s prime thinkers attracts on a life of study, research and common-sense in his blueprint for creating a higher Australia. Hugh Stretton argues that it really is attainable to contrive complete and reasonably shared employment for everybody, to permit such a lot families to possess or lease enough family area and acquire the capital they should do the issues they need to do. He argues that we will proceed women’s growth to actual equality at domestic and at paintings and reconcile it with parenting that elicits the simplest from and for our youngsters. He indicates that we will ensure how most sensible to move source of revenue to non-earning years. eventually, the booklet exhibits that we will be able to particularly percentage using common assets. formidable yet functional, the ebook units out a plan for attaining those goals.

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About 40 per cent of the profits which drove the share price up came, as far as outside investigators could estimate, from the monopoly of the country’s blood supply, priced at twice its former cost of production. The company prospered, and eventually raised some more capital. By 2001 it was the world’s third largest blood processor, with annual revenue above $800 million. CSL executives had generous share options. The Australian Financial Review named the Managing Director as the only manager of a privatised public company to make serious money out of such a float.

Some who want steeper inequality don’t want any hindrance at all to escalating executive plunder or other ‘tall poppy’ self-service. Both parties should be more discriminate. Twenty years ago I told an American audience that Australia ran level or ahead of the world in the quality of its best scientists, artists, writers, musicians and athletes, but that its business and government leadership had lately been declining. Right opponents rejected that opinion. Left friends regretted that its author had ‘turned elitist’.

It would be fairer to say that they prolonged rather than preserved those elements. They financed them with double improvidence. First they cut new public investment to free more revenue for welfare spending. Then they began to sell existing public institutions and services and spend the capital proceeds. They did not continue enough taxation to finance either the capital or the current costs of ‘the key elements of the welfare state’ when the windfall from privatisation was all spent. | 27 | strettontextpp6 14/7/05 12:28 PM Page 28 | A u s t r a l i a Fa i r | What had caused the great transformation?

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