Business

Feb 19, 2018

The bonkers plan to turn remote Indigenous Australia into a free-market capitalist economy

With one more ad hoc solution piled on another, it's desperate times for the Mundine-Pearson model of remote-area development.

Guy Rundle ā€” Correspondent-at-large

Guy Rundle

Correspondent-at-large

"Quick loans to high-risk people without capital or experience!" No, it's not an ad in the back of Golf Magazine, it's the gist of an op-ed in The Australian Financial Review. The author? Nyunggai Henderson Warren Mundine.

The argument? Indigenous business start-ups should have loans given to them with no regard for the inherent risk. Yes, you read that correctly. A minor piece in itself, the article is a measure of the desperate times for the Mundine-Pearson model of remote-area development.

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6 comments

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6 thoughts on “The bonkers plan to turn remote Indigenous Australia into a free-market capitalist economy

  1. brian crooks

    malcolm`s man mundine has sold his soul to the coalition, nothing he says or does will be in the best interests of australia`s indigenous people he just parrots the coalition line and does as he`s told

  2. Woopwoop

    Fair enough Guy, but what’s you suggestion for the long term viability of remote area communities?

    1. Guy Rundle

      recognising that they will never be capitalist communities, dominated by wage labour, private industry and profit. The economies of scale arent there, quite aside from cultural issues.
      Instead, as numerous non Mundine-Pearson commentators have suggested, a hybrid economy with a mix of direct state support, market activity, co-operative activity, subsidised care for country, cultural renewal etc. Stop punishing remote area people – with dole breaching etc – for the absence of a fantasy economy.

  3. AR

    If the whites in the Top End (and other far flung rural areas) were not congenitally attached to the government teat as a lifestyle choice (copyright Abbottrocious) there might be some slight chance for this dumb proposal.
    They ain’t and there isn’t.

  4. Mary

    What do you mean remote-area Australia never developed as a green market economy. What do you call Sydney, Melbourne, Brisbane and Perth. Once upon a time they were remote, low populated towns. More remote in the world than any country community in Australia today.

    1. Mary

      Should say “free market” not “green market”. No editing tool Crikey??

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