Thursday, October 14, 2004

Who Wants To Vote?

Australia is one of the few countries where it is compulsary to vote. No ifs, buts, or maybes. You are fined if you don't. While at the dentist's office on Saturday I heard a story about the assistant's friends who had been fined $50 and $100 as they had forgotten to vote, twice.

Just after the recent election a finding was released that stated 40% of people aged 18-25 wouldn't vote if they didn't have to. I find that to be a little disturbing.

Australia also has approximately 40% of the population who directly own shares. As a shareholder you need to vote for the Annual General Meeting. Of course, if you own shares in one of the blue chip companies your vote doesn't really matter as you own 250 shares and the large institutions own 37 million each. Your vote is rather miniscule and isn't going to change the decision either way.

If voter apathy enters the equation in the AGMs then businesses are the only one's who will have a vote. What about the EU? Doesn't the Fiat Company have more votes than some particular countries? It's starting already. People couldn't be bothered with voting and all governmental decisions will be made by businesses.

1 comment:

Nick Souter said...

what the bloody hell is going on here! I'm off the internet for a couple of weeks and sudenly it's all gone bonkers!! well, looks like I'm gonna have to fire up the weekly again by the looks of things! Yes, defintiely (you bloody dork! permission to use those photos for the re-edition?)

by the way, the ball of the century, what a ball that was!)