Understanding growth

July 14, 2025

As a 73-year-old who left school at the end of year 11, I’ve never been understand the concept of continual profit/growth.

Like compound interest, the profit/growth included the growth of the year before and in the end required dramatic change — eg expansion of output, reduction of staff etc — to be achieved and in the end it was not achievable.

I have watched as multiple government institutions have been privatised, primarily to reduce taxation, only to find that eventually the services once provided had reduced and the government has had to step in for all the reasons that the government was originally there to start with. For example, electricity supply was taken over because private companies would only service the profitable areas/cities, so too telecommunications, banking and health.

Talkback radio is awash with complaints about poor service in the bush largely bought about by governments selling off utilities to ensure low taxes for a limited time. I understand our self-serving politicians promoting low taxes, but not why so few can see the end coming. I cannot understand why the media promotes the mantra of the day and hide the truth.