John Menadue

Crony capitalism, lobbyists and markets.

In the AFR today, John Kehoe writes about the power of lobbyists and crony capitalists who are killing faith in markets. He refers particularly to the US where ‘crony capitalism’ is sapping vitality out of the US economy. He adds that

‘If you analyse the very richest Australians, beyond lucky inheritance, many have built their enormous wealth in industries heavily influenced by government regulation. Media, gaming and real estate development dominate the c.v.s of the upper echelons of the BRW rich list.’

See link to John Kehoe’s article: http://www.afr.com/opinion/regulation-crony-capitalists-are-killing-faith-in-the-markets-20160104-glyr2q

I am also reposting an article I wrote in May this year for our policy series. It was entitled ‘ Vested interests and the subversion of the public interest’.

The views expressed in this article may or may not reflect those of Pearls and Irritations.

John Menadue

John Menadue is the Founder of Pearls and Irritations and a board member. He was formerly the Editor-in-Chief. John was the Secretary of the Department of Prime Minister and Cabinet under Gough Whitlam and Malcolm Fraser, Ambassador to Japan, Secretary of the Department of Immigration and CEO of Qantas.

John Menadue

Support our independent media with your donation

Pearls and Irritations leads the way in raising and analysing vital issues often neglected in mainstream media. Your contribution supports our independence and quality commentary on matters importance to Australia and our region.

Donate