The Neoliberal Australian Labor Party Once Tried to Nationalize the Banks

In 1947, Ben Chifley’s Labor government proposed nationalizing the country’s banks. It was the biggest challenge to capital by a reforming government in Australia’s history, igniting what historian A. L. May called “the Battle for the Banks.”

In response to Chifley’s move, competing factions of capital united, pooling their resources, connections, and institutions to face down the threat. The Australian capitalist class recognized that an attack on one section of capital by a Labor government threatened their collective interests.

To reinforce the campaign, the Right revived right-wing mass organizations dating back to the Great Depression and set up

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‘Third Party’ Risk to the Status Quo of US Politics Faces Long Odds | Voice of America

Rancor in the Republican Party peaked last week between associates who remain loyal to former President Donald Trump and those people who want the occasion to repudiate him and his continued wrong promises of election fraud. 

1st, there was the dramatic expulsion of Congresswoman Liz Cheney from her leadership post in the House of Associates just after she voted to impeach Trump and denounced his statements the 2020 election experienced been “stolen” by the Democrats.  

Then arrived the announcement that far more than 100 disgruntled conservatives are discovering the chance of launching a new political celebration rededicated to founding ideals. 

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