Journey… Through Australia's Economic History on Australia Day

Australia Day's history is rooted in imperialist economic imperatives, marked by the destruction of one economy to sustain another. Without understanding these economic drivers, we risk becoming trapped in cycles of blame and division that serve only those whose profits depend on exploitation and division—interests far removed from those of the majority.

The First Fleet carried political prisoners from Ireland, France, and Britain—individuals forced into exile under threat of violence and the point of a bayonet. For them, transportation was no choice. For the British Empire, however, it was a calculated decision to expand colonial dominance and exploit the raw materials and labour of new territories. As in India, imperial ambitions drove colonisation in Australia and New Zealand. These distant lands were initially seen as a food bowl for the empire and a means to get rid of rebels from Ireland, Britain, and France. The convicts could endure the risks of a perilous journey, an unfamiliar land, and violent resistance from Indigenous peoples defending their economies and way of life to expand the Empire. This was in the interests of a minority group of capitalists, the royal family and a British government that represented those interests.

From the British Empire’s perspective, this expansion was necessary for maintaining profit and global dominance and a desire for raw materials. For ordinary people, there was no such choice—only subjugation as labour to sustain imperial ambitions. Workers, like natural resources, are exploited to build and sustain these empires. Until the cycle of serving the elite interests is broken, there remains little choice for the working masses.

The 1938 Day of Mourning marked a pivotal national civil rights gathering led by First Nations activists, bringing together voices from across Australia. For many Aboriginal and Torres Strait Islander peoples, January 26 remains a day of mourning and protest against the devastating impacts of colonisation, now known as Invasion Day. Supporting these actions is essential, but limitations must be recognised. True justice for Indigenous people cannot be achieved within the existing system, just as justice remains elusive for working-class people. Superficial measures often create illusions of progress, with contradictions that further confuse public understanding.

The recent Voice to Parliament referendum is a prime example. Even if passed, it offered no significant economic benefit to Indigenous communities. Leading up to the vote, the funding for Aboriginal Legal Services (ALS) was under threat, forcing potential service reductions. The ALS has a history of supporting and Indigenous people in legal, medical, and education services. This contradiction—promising empowerment while undermining critical services—highlights the system's failure to address fundamental economic needs.

In 1938, the Australian Aborigines League sent letters to various organisations seeking support for justice. Their message expressed hope that awareness would foster white sympathy and lead to “full justice and recompense.” Sympathy, however, does not equate to economic rights. Indigenous Australians face ongoing economic challenges—challenges shared by many Australians regardless of race. Achieving justice requires addressing these systemic economic disparities for all people.

How do we do that?

Tax the multinational corporations, no exceptions, no loopholes. If that means these multinationals pull out of Australia, the Australian government can nationalise the corporation. By bringing it under the control of a democratic committee within the workplace set up to run the corporation, with the profits being used to fund schools and hospitals. Do you see the possibilities in this idea?

The Australian government must create banks in the interests of the people with low-interest rate loans and the development of small business loans to encourage a micro economy within the larger economy. Can this be done?

Change the constitution to recognise people as being at the very core of the nation and build an economy that supports that concept so that it is not just words on paper. Is this worth discussing?

How do we achieve it?

We must cultivate a vision of unity that empowers us to drive meaningful change based on alternative ways of developing Australia’s economy. Ways that serve the interests of all citizens, because economics is the powerhouse of a nation, not the politicians sitting in office. However, politicians will only listen when we demonstrate collective strength. Protests express opposition to specific issues, but true power lies in becoming a driving force for genuine economic reform. Only then can we lead the way to lasting change and become a truly independent economically sovereign nation that recognises the importance of First Nations people and their right to self-determination supported by guaranteed economic rights.

If there is no vision of change, if there are no possibilities, then there can be no change.

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We hope that this article has been helpful in providing references that will encourage you to begin your own journey of understanding. The discussion contained in our articles often reflects our own author conclusions, based on the many years of observation and research. However, we understand that many of you have your own piece of the puzzle to add to our collective understanding. So, we encourage you to participate in this discussion. Are our conclusions correct or incorrect? Should we provide more writing on some simplified references in this article? Please add your respectful and constructive comments below. Also, if you have any articles of your own to submit to The Great Southern Club, we welcome your perspective on issues facing Australia, Pacific Island nations, Timor-Leste, and Indonesia.