CEC leader Craig Isherwood today called on Australian politicians to abandon their suicidal commitment to British free trade, and fight for a return to protectionist policies. “Protection of industry in the post WWII era and a regulated economy enabled real economic growth. By contrast, the so-called ‘free trade’ and globalisation policies of the last generation have created the current economic disaster.
“George Bush’s babbling on ‘free trade’ at the recent APEC forum must be ridiculed as economic quackery. This is the idiot president who claimed last December that the U.S. economic ‘fundamentals are strong.’
“We can all laugh at stupid Bush, but Prime Minister Kevin Rudd is pushing the same free trade barrow, even claiming on 21st January this year that our economy was ‘now enjoying its 17th year of economic growth’. What nonsense! There never was economic growth! Free trade looting has ripped up our manufacturing and agricultural sectors for years and anyone foolish enough to believe that the growing share market and superannuation was economic growth has now woken up with a rude shock.
“The fact is, ‘free trade’ is actually a myth—it doesn’t exist! It never has and never will. ‘Free trade’ has always been the smoke and mirrors of economic swindling since the days of British East India Company’s propagandist Adam Smith. Abandoning protection doesn’t give free trade. It just allows a financial oligarchy to plunder the planet. Multinational corporations and financiers earn multi-millions while small efficient local businesses are bankrupted. At a time when banks are refusing to issue letters of credit for international trade, leaving ships stranded at ports, and nations without the imports they can no longer produce themselves, continuing this practice is insane.
“How can you expect Australian farmers and manufacturers to compete with slave labour pay rates in plantations and ‘free trade’ sweatshops overseas? The collapse of 30-50% of entire Chinese industries in recent months betrays the fact that this is insane and unsustainable—for us and them!
“True economics is based on scientific principles. There’s no scientific principle of ‘free trade.’ The idea is scientifically absurd and runs counter to the nature of man. No economic breakthrough in history ever arose from Adam Smith’s ‘invisible hand.’ There are no ‘little green men under the floorboards.’ Economics is a knowable science.”
Mr Isherwood concluded, “Actual economic growth results from creativity—scientific innovation and a dirigiste government directing capital to production and away from speculation. And actual economic growth requires expanding power production from a high energy-flux density power source. This is the antithesis of the current culture and economy—that’s why we are facing the biggest economic crisis in history. Therefore, I call upon Australians to join my party to fight for a protectionist pro-industry policy and dump ‘free trade’ looting once and for all.”
For further information, contact Jeremy Beck on 03 9354 0544.
For documentation of the CEC’s economic proposals, click here to buy the book What Australia Must Do to Survive the Depression.
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