“Capitalists always want to privatise their profits and socialise their losses” – that’s the traditional socialist critique of how businesses are big fans of state intervention when it suits their interests. There seems to be a lot of that going around at the moment – many industries want government to help them be super-profitable, largely by reducing industry regulation and taxation, despite any damage they might cause.
However, there’s increasingly a public mood against the special pleading of such vested interests. This is evidenced in the criticisms now coming from across the political spectrum about the huge costs that New Zealand forestry businesses have been imposing on society, particularly with the multi-billion-dollar cost of “slash” debris that exacerbated or caused flood damage when Cyclone Gabrielle hit this month.
