Markets

Why divestment may not be the answer for checking corporate power

Treasurer Josh Frydenberg divestment competition policy
Written by The ReReport
As seen in the Source link, written by crikey.com.au on 2018-11-20 11:33:52

With widespread agreement that corporations have grown too powerful, is divestment the best way to curb that power? It’s a debate many others are having outside Australia.

(Image: AAP Image/Joel Carrett)

The death of neoliberalism has produced some peculiar contortions from the once stalwart guardian of free markets and deregulation, the Liberal Party, but the issue of forced divestment sees the Liberals and Labor lining up in very unexpected places.

That’s particularly the case after someone within the government shared a draft of the government’s energy bill — which will give it the power to compel companies to divest assets — with Fairfax’s David Crowe.