Classic deception from the Australian Treasurer

There is a pattern. Start with an aim which usually involves advancing the interests of some powerful lobby group. It is known that if the citizens realise that there is special pleading going on they will not be supportive. The solution – create some metaphorical language that will help convince us that the aim is worthwhile and legitimate. Then add a dose of ‘technical’ sounding language and some ‘scientific’ sounding concepts (for example, NAIRU), which ensures that only the metaphors, which have common parlance, resonate and the ‘detail’ is not challenged. Especially exploit the fact that most people are too embarrassed to question so-called ‘experts’ for fear of being humiliated for displaying ‘ignorance’. That is how fictional macroeconomics becomes mainstream and that is how we all become passive agents in spreading the fiction. The Australian Treasurer was at it again over the weekend after he had been rubbing shoulders with other Finance Ministers, Chancellors, and Treasurers in Washington D.C. at the annual IMF/World Bank meetings, which are akin to those evangelistic religious festivals where everyone is geedup – with a sense of self-importance and sanctimonious zeal.

Read more
Back To Top