System not immune to shocks

Heather Ridout, chief executive of the Australian Industry Group, says that the System not immune to shocks and urges a more socialist approach to the crisis.

The Federal Government has a vital role to play. Economic management has got a lot tougher and the Government should be ready to take up the slack in the economy as business investment and consumer spending retreats. It should prepare to bring forward key investment projects.

Perhaps the most difficult thing will be for the Government to keep an eye on the need for longer-term reforms in areas such as the federation, skills development, innovation, infrastructure planning and taxation. We may be in a period of crisis management but these require attention now if they are to underwrite a sustained recovery and a new era of prosperity.

Emphasis Mine

Back in 2005, BCA Admits Failure of Capitalism - Calls For Socialist Intervention. The on-going lies are about how Capitalism is the superior economic system (except when it goes down big time!) And yet, these business groups are all in favour in the government getting involved once the Capitalist system seizes up.

This free market ideology is unstable because of the positive feedback loops where investment follows profit not need.