Values-based Capitalism: What is the Aussie Treasurer planning? w/ John Humphreys - EP175

Economics Explored

Australian Treasurer Jim Chalmers argues for values-based capitalism and against neoliberalism in a January 2023 essay in the Australian Monthly magazine. In this episode, show host Gene Tunny discusses the Treasurer’s essay with Dr John Humphreys. John is the Australian Taxpayers’ Alliance (ATA) Chief Economist and the founder of the Australian Liberal Democrats. Gene and John discuss just how literally we should take the Treasurer, the risks of the so-called co-investment approach, and whether the Treasurer is arguing for socialism (or a different -ism).

This episode features audio from an ATA Econ Chat livestream broadcast on 31 January 23. You can watch the whole thing here:

https://www.facebook.com/AusTaxpayers/videos/509950911277607

You can follow the ATA on various platforms including Facebook and YouTube.

You can follow John Humphreys on Twitter.

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What’s covered in EP175

• Jim Chalmers’ idea of co-investing with the private sector [4:21]
• Regarding superannuation funds increasingly having social goals that they aim to meet as well as financial goals [9:12]
• The Australian stage 3 tax cuts and values-based capitalism: are they compatible? [12:37]
• ESG, stakeholder capitalism, and socialism [15:24]
• How does the Treasurer intend to direct investment? [23:28]
• How a poor government policy can lead to another poor government policy [27:31]
• The social impact investment bank expected in the 2023 Australian budget [32:34]

Links relevant to the conversation

Jim Chalmers’ essay Capitalism after the Crises

Clean Energy Finance Corporation Financial Outcomes 2021-22

Australian Government principles for social impact investing | Treasury.gov.au

Impact Investing Won’t Save Capitalism

Credits

Thanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au.

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