More is more: The big idea that's inspired Jim Chalmers (huzzah!)
Canberra has been taken by storm by an i dea. The idea is abundance – the notion that scarcity is artificially created. It is described in a book which Treasurer Jim Chalmers referred to at the National Press Club last week. I rather thought that the treasurer might have given up on ideas after the critical reception of his Monthly Essay in the summer of 2023 on 'values-based capitalism'. Endearingly, he has not.
Abundance is the latest from Ezra Klein and Derek Thompson (the prolific 'et al' to his more famous co-author). Klein's books (he's written one other, without an et al) are interesting, in that they offer the kind of excoriation of progressives and progressivism that can only be delivered by someone who passionately wants both to succeed.
Chalmers' colleague, the honourable Dr Andrew Leigh, MP, recommended the treasurer read Abundance. This column has been quite fond of Leigh, from afar, ever since he took it in his head to deliver a conference key-note address based on Adam Smith's Theory of Moral Sentiment. Cracker speech, cracker text. Donald Trump was elected for the first time that very afternoon, but this column is not implying any causality.
Klein's book has inspired our treasurer. Now 'about half of the federal cabinet has a dog-eared copy on their bed stands', according to Shane Wright's column in this masthead. So obviously I had to read it. The act of a patriot.
Abundance is an extraordinary book. But before I begin to describe it, a word from our treasurer.
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The inspiration he and his team are drawing from Klein (et al) relates to his suggestions on how 'we' (society in general, but the book is specifically aimed at progressives) can get out of 'our' own way and get on with building housing and energy. As Chalmers said at the National Press Club, the vision is to address the supply side of the housing and energy crunches in Australia. That means we need to knock down the obstacles standing in the way of creating more of both.
Which is good to know. Because while creating abundance is the overall theme of Abundance, and housing and energy are areas of focus, there is so much more that I wasn't expecting. Klein (et al) deliver a very tidy description of American politics which translates well to the Australian experience. 'Americans,' they write, referring mainly to Republicans, I assume, 'talk like conservatives but want to be governed like liberals.' They 'like both the rhetoric and reality of low taxes, but they also like the programs taxes fund'.
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