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Inside The Tent: How Power Really Works… With Cameron Murray

I caught up with Cameron as he republishes his book from 2017 Game of Mates: How favours bleed the nation as Rigged “How Networks Of Powerful Mates Rip Off Everyday Australians”.

This book will open your eyes to how Australia really works. It’s not good news, but you need to know it.’ – Ross Gittins

‘You’ll be shocked at how far the Mates have their hand in your pocket.’ – Nicholas Gruen

Australia has become one of the most unequal societies in the Western world, when just a generation ago it was one of the most equal. This is the story of how networks of Mates have come to dominate business and government, robbing ordinary Australians.

Every hour you work, thirty minutes of it goes to line the Mates’ pockets rather than your own. Mates in big corporations, industry groups, government departments, the halls of parliament and the media skew the system to suit each other. Corporations dodge taxes, so you pay more. You pay more for your house and higher interest rates on your mortgage, more for your medicines and transport, and more for your children’s education and insurance, because the Mates take a cut.

Rigged uncovers the pattern of political favours, grey gifts and information-sharing that has been allowed to build up over two decades. Drawing on extensive economic research, it exposes the Game of Mates as nothing less than cronyism on a grand scale across Australia and how we have fallen behind other countries in combating it.

https://www.bigw.com.au/product/rigged-by-cameron-murray-and-paul-frijters/p/235646

We also discuss the recent Canberra event and housing policy in general.

Dr Cameron K. Murray is a Research Fellow in the Henry Halloran Trust at the University of Sydney and an economist specialising in property and urban development, environmental economics, rent-seeking and corruption. Professor Paul Frijters teaches at the London School of Economics and was previously Professor of Health Economics at the University of Queensland.

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Caveat Emptor! Note: this is NOT financial or property advice!!

Written by Walk The World

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  1. My view on the jobs summit is, business owners should have the freedom to be successful.
    The caveat should be that their success should promote employment and opportunities for their employees (skills and knowledge) and the entrepreneurs in society.

  2. I had this argument with a group of Labor die-hards on the friendly Jordie YouTube. Their arguments were so “basic”. For instance one person easy saying they wanted increased immigration so there were enough teachers. I tried to point out (with figures) that the reason there were too few teachers was because there is a structural problem with teaching in Australia. Education department works against the teachers, salary is poor, status is low and teachers burn out. If 50% of new teachers leave, how will immigration help? Never mind they are looked at as babysitters rather than educators and powerless to discipline students or protect themselves for overprotective parents.

  3. I enjoyed the Game of Mates when it came out. It's a book in a long tradition of ruck-raking research that is more necessary than ever. Well done for giving this lad a hearing Mr. North. From Charlie's remarks about Wakefield in colonial WA to our very own Humphrey MacQueen, people have been collecting public facts and horrifying the public with them hoping that outrage will change the world. But, they just gasp and walk into the ballot box and play the game of Tweedledum and Tweedledee (also the title of a forgotten Australian classic by the way). Our Westminister inheritance died long ago Mr. North, 2020 just shoved that Reality into our faces in a way many could no longer ignore.

    I prefer the cold wisdom of Ian Macfarlane, by the way. Thinking that our Mandarins can, even if they wanted to, rush to rescue our Middle Classes from a mortgage massacre is nothing but wistful daydreaming of a Paradise Lost that never really existed anyway.

  4. Hey! I ah errr ummm first ahm came err err across uh uh this ummmm guy thanks ah to umm err uh Damian ah err ummm Klassen from um ah err umm Noooooo-kill-us ah um err ah errrrm Wealth!

  5. Cameron Murray is a great opportunity to get a affable but scholarly personality out to the public.
    Education is very important as you know Martin.
    Australia 3rd, Germany 2nd Italy 1st in mob political/corrupt influences.

  6. Its not just upzoning benifits to the developers but also the inequitable support of significant increases of planning variations by councils, heights, density, overshadowing 3rd story on a 2 story zoning etc; Both planning department recommendations and councilors voting in these these unequitable planning variations

  7. The housing ponzi has not just affected younger people financially, it is imo the largest factor for our decaying society when young people cannot afford to have a family in there own home until 35 to 40yrs old. Absolutely appalling and criminal…..

  8. Upzoning can help with optimal density for any given area but alone it will do nothing for prices and has only a marginal effect on rent. Thpough I consider myself a YIMBY too many naively think permission to build will translate into building enough to crush their own profits, as if developers were so perfectly competive as to outweigh the natural monopoly of land.
    Developers too have to purchase land at highly inflated prices and manage risks over the cycle, the incentive structures are screwed by land's inflating price outweighing housing's actual utility value.
    Upzoning is a big carrot, but it needs a stick to fix the market, raising land taxes towards the full rental value of land would do it. Use it or lose it.

  9. I enjoy all your content Martin but this one has legendary status for me. Being originally from a small pacific island 🏝 nepotism and cronyism is like the air that you breathe. Always researching ways to improve the system. Thank you for introducing me to Dr Murray. 🙏

  10. Thanks<, for the update I really appreciate the insight. <I'm really blown away by the fact that having watched your videos for so long, I had the same opinion that you are putting forth in this video. <The sudden plunge in the crypto market is being attributed to the Fed’s expected interest rate hike in September. Bitcoin is on a uptrend and has dropped by 4% in the past 24 hours, the key areas of support are the 0.5 Fibonacci level from the low in June to recent high. The second level is in the golden pocket region around $20.5k. I think bitcoin will continue its wild swings between $21-24.5K the market dynamics of the last few days, as of now, two significant developments are on the horizon for bitcoin. My hope is that by the fourth quarter, the economy will be slowing enough that the Fed says we are going to pause, and then you will see the next crypto cycle start. I have witnessed the last 3 cycles and just before each bull run the amount of bear posts and negativity around crypto is just like it is now. Bitcoin is entering the area of where a bottom will be formed IMO. Please note this could take months and there will likely be further volatility in both directions. Despite the volatility that has ruled the market this year, being a retail trader in the crypto market and implementing strategies/signals from Richard Byrne a professional broker/tradr that has been my mentor, I have accumulated 15’B T C! in profits although the rates are capricious wiping out some of my profits, people who are open to learning from history, will survive It’s not that difficult. You can reach out to Mr Richard on <ͲeIєɠɾαm his personal handle is @Richbyrne

  11. So a guy who “wrote the book” on corruption and nepotism suddenly doesn’t apply his thesis to RBA and banking. I guess he really does know who the powerful are !

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