Big business influence wanes as public rejects ‘bizonomics’

Ross Gittins 

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The collapse of the “neoliberal consensus” is as apparent in Oz as it is in Trump’s America and Brexitting Britain, but our big-business people are taking a while to twig that their power to influence government policy has waned.

Their trouble is the way the era of micro-economic reform initiated by the Hawke-Keating government in the 1980s eventually degenerated into “bizonomics” – the pseudo-economic belief that what’s good for big business is good for the economy.

Part of this is the belief that when you privatise a government-owned business, or outsource the delivery of government services to for-profit providers – when you move economic assets and activity from the “public” column to the “private” column – you’ve self-evidently raised economic efficiency and wellbeing

http://www.smh.com.au/business/comment-and-analysis/big-business-influence-wanes-as-public-rejects-bizonomics-20170722-gxgli1.html

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