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Labour and the Money Power: Australian Labour Populism, 1890-1950
Between the crash of 1893 and the 1947-49 bank nationalization campaign, the Australian labour movement developed a theory about capitalist finance which they called the 'Money Power'. Peter Love examines that theory to show how populist ideology has left an enduring impression on the way the Labor Party has seen its role as an agent of social change.
Nationalism and imperialism, monopoly and democracy, class and race were all woven into an elaborate conspiracy theory which focused and mobilized the discontent of a generation - the generation that 'copped the lot' in World War 1, the Great Depression and the war of 1939-45. 'Money Power' not only reflected the dilemmas of a social democratic party, but also contributed directly to Labor's electoral defeats in 1931 and 1949 by reinforcing misleading assumptions about economic and political power in Australia.
Nationalism and imperialism, monopoly and democracy, class and race were all woven into an elaborate conspiracy theory which focused and mobilized the discontent of a generation - the generation that 'copped the lot' in World War 1, the Great Depression and the war of 1939-45. 'Money Power' not only reflected the dilemmas of a social democratic party, but also contributed directly to Labor's electoral defeats in 1931 and 1949 by reinforcing misleading assumptions about economic and political power in Australia.
240 pages, Paperback
First published January 1, 1984
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