Originally Posted by
JDNSW
To a considerable extent, it is dodging the truth to blame the politicians.
The short sighted policies of politicians are simply a reflection of the voters' attitudes, and "allowing" foreign entities to buy assets simply begs the question as to why Australians are not buying them instead. Again, the real reason is that most Australians are unwilling to make long term investments - we (speaking generally) prefer to make quick gains and encourage our corporations along the same path by making investment decisions based on the latest quarterly report rather than long term plans.
This short term attitude is, not surprisingly, encouraged by tax and other legislation that encourages a short term outlook, especially by corporations.
Politicians are encouraged by their constituents who tend to vote for whoever gives the best bottom line after each election. Until voters start looking long term, don't expect the politicians to.
Other countries, especially less democratic ones, can follow strong leaders who can have long term vision, and even in democratic countries, strong, charismatic leaders can lead rather than bribe their supporters. I have trouble thinking of such a leader in Australian politics, certainly in my lifetime. There have been a few who have tried this, but have failed to carry enough voters with them to last very long.
John