Tag Archives: Menzies

The betrayal, corruption and capture of the Liberal Party

[Published at Pearls and Irritations, 6 May]

The Liberal Party has strayed far from the vision propounded by its founder, Sir Robert Menzies, to the point of being captured by special interests.

According to former Senator Ron Boswell, Sir Robert Menzies, founder of the Liberal Party of Australia, said in 1970 

Australian Liberals are not the exponents of an open go, for if we are all to have an open go, each for himself and the devil take the hindmost, anarchy will result and both security and progress disappear

This is a clear repudiation of the idea of unregulated markets, an idea that came to dominate the world and the Liberal Party a decade or two later.

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A central dysfunction: house price inflation, stagnant economy

[Published at Pearls & Irritations, 7 Nov]

The problem with the housing bubble is not a shortage of housing, the problem is an excess of money. The solution is to restrict the amounts banks can loan. The solution is a credit squeeze. But it would have to be done carefully and the government would have to be willing to spend.

The housing market is rebounding. It is through the slump. The downturn is over and the market is making gains. So say the media reports, written by the property industry. Rising house prices are good.

Except they’re a disaster for everyone else.

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