Why you should never listen to “business”

There are five reasons why you should never listen to “business”:

The first and foremost reason is that there is no such thing. “Business” is a media construct designed by a small number of rentier-corporations and their lobbies to support theirs and nobody’s else’s interests. In reality, there is no “business”, there are only businesspeople who vote all over the place, hold all kinds of widely different views, and couldn’t give a stuff about this kind of toxic identity politics.

Second, “business” only represents “businessomics”, not markets, not rational economics, nor the national interest. The tenets of “businessomics” are:

  • permanent skills shortages as code for more immigration is always good because it crushes wages and lifts asset prices;
  • hostility to productivity reform because it’s much harder to compete to grow;
  • tax cuts for corporations because it’s much easier than competing to grow.

And that is about it. Notice that all of these positions are all hostile to markets:

  • higher wages drive investment and competitive productivity growth to advance living standards;
  • creative destruction is vital to competitive productivity growth to advance living standards;
  • tax cuts for corporations only lift short term stock prices in a secular stagnation economy making the inequities driving secular stagnation worse.

Third, “businessomics” aids banks, miners, property and retail to the exclusion of all else resulting in today’s massively distorted double dutch disease economy.

Fourth, and very importantly for the period ahead, “business” hates freedom. It would sell itself to the CCP or any other dictator that happened along. Freedom means it must compete, after all.

Fifth, “business” is dumb and corrupt. It is largely peopled by folks that couldn’t make it in actual business because they couldn’t compete their way out of a wet paper bag. Instead, they have become the head-kickers for private school mates that did a little better than they did. These are the intellectual and moral pygmies of our time that should be kept as far from the levers of public policy as is humanly possible.

In conclusion, “business” hates freedom, hates capitalism, hates markets, hates liberalism, hates society, hates just about everything that made it successful in the first place. This is not to say that business people are like this at all. They are not. And that’s the ultimate irony.

The identity politics construct of “business” has absolutely nothing to do with most of them.

David Llewellyn-Smith
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Comments

  1. adelaide_economistMEMBER

    Perfect dissection. Puts the “open for business” mantra of the coalition in correct perspective too. An open grab by the grasping and feckless rather than the brave Ayn Rand acolyte self image.

  2. And in this context, might the real Innes Willox (Anus Bollox) please stand up? Because what he does is to give form and shape to the Goebellian manifestation of this “business” lie. This guy runs the front office for the wizards behind the curtain foisting upon us an ideology that can be traced back to the mad witch Ayn Rand. And yet our ABC is happy to have Mr Bollox as the representative of “business” on all its commentary, without revealing who he actually is – an ex journalist spin doctor who worked as a political hack advisor for Kennett and Downer and got his Fairfax mates to run puff pieces on him in a new propaganda career.

  3. In your first para, you say ‘business’ is a construct and as an identity group is misleading. Fair point.
    But it is a bit rich to target people who are asked for their opinions on their livelihoods. More accurately this piece is “don’t trust the journos”. It is the journos who push these constructs.

  4. Jdjdjjr Jcjddjdjd

    And we are all Marxist now? I’m no fan of “business” before people but Im also no fan of “society” before the individual. Be careful where you go with this because you may not like where you find yourself at the end of the path you chose. History doesn’t repeat but it sure does rhyme.

    • Totes BeWokeMEMBER

      The greater good should always come before the individual.

      The greatest failure of today’s left is trying to look after the individual at the expense to the collective…Australia.

      • This is the opposite of how it is arrived at.
        There is no greater good if it is not achieved as a result of individuals exercising their liberty and their freedoms of conscience. You’ll find there is a constraint on that exercise of individual freedoms, but only to the extent they are rights foregone so that, and in recognising, others too have the right to exercise their individual freedoms (under the same principle).

        • There is no greater good if it is not achieved as a result of individuals exercising their liberty and their freedoms of conscience. You’ll find there is a constraint on that exercise of individual freedoms, but only to the extent they are rights foregone so that, and in recognising, others too have the right to exercise their individual freedoms (under the same principle).

          So you’re a powerful advocate of open borders and elimination of the nation state, then ?

      • The greatest failure of today’s left is trying to look after the individual at the expense to the collective…Australia.

        The fact that the “woke elite” focuses their attention on an “individuals rights over the groups” is why I dont associate this behaviour nore its proponents as anything but right wing. The Neo Right have done a great job of associating this with the left, kills 2 birds with one stone. Disassociates an overly toxic mindset from the rest of the right and associates it with their natural enemy, the left.

        Its in this one area that I agree with you on the failure of the ALP, they embraced this “fake left” ideology instead of reflecting it back where it belongs.

  5. Stewie GriffinMEMBER

    “…businesspeople who vote all over the place, hold all kinds of widely different views, and couldn’t give a stuff about this kind of toxic identity politics.”

    That may be true about ‘businessmen’ but it doesn’t apply to ‘Woke capital’, which is increasingly the ideology that is permeating the professional ‘business management class’ who manage and control our largest listed enterprises and provide the information that they consume:

    “Woke capitalism is the future, but it’s not good enough. Racism is embedded in capitalism — and to stop exploiting workers and people of color, we need a new system entirely.”

    An ‘opinion’ and link provided via a twitter account with 3 million subscribers:

    https://twitter.com/MarketWatch/status/1302382603765506048

    Businessmen may not give a stuff about Woke politics, but professional business managers as a class and those who ‘educate’ them, increasingly do:

    To be clear: we agree with many theorists of racial capitalism that capitalism as it currently exists disproportionately harms people of color, if only because the racial wealth gap is concentrated at the top 10% of all races by now, as Matt Bruenig recently noted: “The lower and middle deciles of each racial group own virtually none of their racial group’s wealth.”

    The link from the twitter account to the quotes

    https://www.marketwatch.com/story/taking-the-racism-out-of-capitalism-isnt-good-enough-11598555456

    • To be clear: we agree with many theorists of racial capitalism that capitalism as it currently exists disproportionately harms people of color, if only because the racial wealth gap is concentrated at the top 10% of all races by now, as Matt Bruenig recently noted: “The lower and middle deciles of each racial group own virtually none of their racial group’s wealth.”

      WTF? How can something be considered racists on the basis that it creates an inequality divide equally within the racial groups and despite racial group differences?
      Sure, if measuring by the ideal that 90% of wealth was concentrated in one racial group you could argue it was racist. but thats not what that statement said….

      Its not surprising the “woke” go off on such stupid rants when you see stuff like that being accepted as valid….. it just read like “its racist coz the numbers all add up and stuff”

  6. “Business” as idolised by newly Woke Aunty = Apex Parasite transnationals run by psychotic “Csuiters” shepherding flocks of sociopath MBAs.
    “Business” in the ‘burbs, a huge group of sleep-deprived, stressed out, terrified middle-aged battlers screaming down the phone because their Apex Parasite customer decided they get paid 90 days after invoice because they missed the cut-off by 10 mins.

  7. Jumping jack flash

    Perfect!

    Business people are people too, and people need debt. Gargantuan piles of the stuff to afford the lifestyles they expect people in their positions should have.

    The same goes for an economy. There is no “economy” just a heap of people trying to get by, and stepping on heads to get there.
    If all of those people live for debt, and all of those people yearn for debt, and all of those people have gargantuan piles of debt to repay plus interest, then that’s going to have a considerable effect on how things are able to work in the “economy”.

    Look no further than our own economy to see how things can, or can’t, work with those parameters.

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