Gotti: Business has lost its power over policy

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>Gotti has gone completely batty today:

Never before has the large business community had such a low influence and standing in the corridors of political power.

And this low business clout comes at a time when the actual process of decision making in government is failing in many areas.

…Nothing illustrates the low business standing better than the tax imposed on Australia’s four largest companies — the big banks. The federal treasurer in slapping a new tax on banks, scoffed at their protests in the same way, as he would treat a group of protesters outside parliament house. It perfectly illustrated not only the lack of business clout but also the dangers of business being soft in this environment.

…How did business lose its standing in the corridors of power? There are many reasons but let me put forward a few suggestions. Business leaders led by their politically correct public relations advisers have found themselves embracing social issues over a wide range of topics from board structures to gay marriage. This places them in the same category of other peddlers of social views like the Greens and the activists that conduct marches. Business leaders in former generations talked business issues, which they linked to community prosperity.

We are living through the greatest corruption of policy by business in history,and Gotti writes this…

The irony is cosmic given Gotti is the embodiment of how business has come to completely dominate power. The tiny SA levy has every right to exist as a pro-rata charge for public support to the banks. The Feds are radically undercharging. Good on SA for taking a fair share.

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For that matter, it has every right to exist as a tax if the state so decides.

Sure the policy process is whacky but it has to be to avoid being destroyed by business shills like Gotti.

Time to retire, mate. Do it for you country.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.