(2017: Holden manufacturing (with wages well above market level) in Australia ceases; 2020: The Holden car (its models no longer competitive at the list price) ceases for good. Certain commentators suggest governments should have ‘done more‘)
We’ve had much hand-wringing of late
And cries for intervention by the State,
To return us to the good old times
Of subsidies and other nursery-rhymes.
”Invest” (in losers) interventionists cry,
Raise the prices till no one can buy,
The Holden car, well ‘she’s a bloody beauty’;
When markets fail, we all have a duty.
(One absorbs the books by Marx,
And duly then the State embarks
On policy that moves dead hands;
Ignores Supply and flouts Demands.
Tax it, if it moves – and then,
If not still, why, tax again,
And if it breathes, then regulate;
Subsidise only when too late.)
We have to throw more money down,
Lest we lose the money thrown
And why not meddle? We have before:
Tariffs help even-the-score.
We all want work that is for real;
Quality goods for the commonweal,
But if the motor, off the line
Costs double an import, it loses its shine.