None of these measures can be implemented without a fundamental reorganisation of the Australian and world economy in the interests of the majority. The accumulated wealth created by the working class must be directed to the satisfaction of pressing social needs, with the banks and giant financial institutions expropriated, with full protection to small depositors, and placed under public ownership, democratically controlled by the working class. Likewise the major, multi-billion dollar corporations—including telecommunications, energy, mining and agriculture—must be nationalised, with full compensation to small shareholders, and subjected to public ownership and democratic control. This will provide the resources necessary to eliminate poverty and meet the social needs of the Australian and world population. Only when social need, not private profit, becomes the organising principle of production and all aspects of social life, will the extraordinary human and technical resources that are now available be utilised to provide a decent living standard and safe environment for all.
