What would be the cost of eradicating poverty in this country? What would be the cost of solving homelessness or unemployment? Could Australia afford to provide universal, free healthcare and education? Is there enough material wealth here to move to a safe, low-carbon economy?
Before going on, let's consider the following. The total wealth of Australia's 200 richest corporate executives ballooned to $35 billion in 2010 — an increase of nearly three quarters in a year. Over the same period, workers' wages fell 2.6% in real terms, said the Reserve Bank and Australian Bureau of Statistics. Household debt increased and youth unemployment remains high.
But never mind, because good old Rupert Murdoch almost doubled his wealth from $3.4 billion last year to nearly $6 billion this year, said Business Review Weekly. Surely Rupert will save the day?
Surely some of the executives' $35 billion will be used to solve the above problems?
Unfortunately, the wealth will be re-invested in whatever the corporate bosses think will be most profitable, not what's socially or environmentally useful or necessary. That's capitalism — profit before people and the planet. And some of it, of course, will be spent on luxurious living, like James Packer's $50 million yacht.
But you can help us in the struggle to turn this insanity around. 91×ÔÅÄÂÛ̳ Weekly is committed to fighting for a system that unashamedly puts people and the planet before profit; a system that doesn't consider our health and wellbeing to be "too costly". We are on our way now to reaching our ambitious $300,000 Fighting Fund for 2010. Thanks to an incredibly generous donation by a Sydney Socialist Alliance member, we have now raised $64,495 this year. This is just short of our running target though, so we need all the help we can get to ensure GLW's financial viability for another year.
You can today. Or direct deposits can be made to Greenleft, Commonwealth Bank, BSB 062-006, Account No. 00901992. Otherwise, you can send a cheque or money order to PO Box 515, Broadway NSW 2007 or phone in a donation through on the toll-free line at 1800 634 206 (within Australia). Thank you!