Gerard Hines

MD at Delta Ag, enjoys the challenges of business, & working with great people to add value to australian farmers. I’m

[Robin Dods @toy59496]

The Chalmer Delusion: Outcome Bias & The Static Pie Fallacy

https://t.co/X5uAtgEL0y

I encourage you all to look at the excellent interview of Jim Chalmers by Philip Coorey of the AFR.

What struck me is that he appears genuinely sincere that he has a good policy and that it will work in delivering intergenerational equity and productivity.

It reminded me of Oscar Wilde's letter when he was in jail...

"Most people are other people. Their thoughts are someone else's opinions, their lives a mimicry, their passions a quotation".

Jim Chalmers is not you, and he is certainly not me, so how can his mind arrive at such bizarre conclusions.

I think the answer lies in the field of psychology: outcome bias combined with the static pie fallacy.

Jim Chalmers sees the successful founder, investor or business owner - but not the thousands who failed, lost capital, went bankrupt or spent years building nothing. Capitalism’s winners are visible; its graveyards are invisible.

Then comes the static pie fallacy: treating wealth as something merely to be redistributed rather than created through risk, incentives and relentless trial-and-error.

He doesn't see that for the pie to grow, incentives must be rewarded, and that outcomes are destined to be fundamentally inequitable If the model works properly. However if the pie grows large enough we have enough wealth to bring up those at the bottom. But we will never be all the same, and rewarded the same, if we were that would be socialism.

But he cannot see that, as trapped in his own psychology, Jim Chalmers feels taxing success is morally righteous rather than economically destructive.

The problem is that innovation only exists because extreme rewards compensate for extreme failure.

The argument is not one of intelligence, but of philosophy, and there is no common ground or resolution.

This is a very old dilemma, and Thomas Kuhn would say Jim Chalmers and the business community have "incommensurable frameworks", and trapped in his own paradigm he is unable to view the world differently. What we see as an apparently rational disagreement is actually a failure of shared meaning rather than a failure of intelligence.

The conclusion is sobering that the only way to resolve the problem is to remove Labour through the election box because the framework in which they make decisions is so foreign to economic reality that they will inevitably fail to interpret the world around them in a way that will grow the pie.

They are prisoners of their own ideology.

https://t.co/X5uAtgEL0y

[Shane Oliver @ShaneOliverAMP]

Aust Govt is right to address intergen equity. The top 3 ways to do this though are:
1/ cut gov spending & deregulate to take pressure off inflation
2/ raise the GST & slash income tax
3/ get the housing balance right - lower immigration and make it easier to supply more homes

[Gerard Hines @deltaghines]

Very proud to officially open our new distribution facility in Perth last week to better service our retail and wholesale customers across WA https://t.co/N9pjVRHRHz

[John Kirkegaard @AgroJAK]

⁦@tony_swan64⁩ and the CSIRO team along with Tim Condon (Delta) have produced another cracking set of crops in the ⁦@theGRDC⁩ ⁦@CSIRO⁩ farming systems site at Greenethorpe. Field Day planned for 12 October, so pencil it in and we will see what spring serves up!

[Delta Agribusiness @deltaagribus]

A successful day at Coonamble for their Grain Storage & Innovation Update.

Talks included:
@mrchriswarrick Grain Storage Workshop
@Syngenta @Imtrade Grain & seed treatments
Mick Parry Delta Grain Marketing Update Fallow management decisions

#DeltaAg @GRDCNorth

[Delta Agribusiness @deltaagribus]

💥 Records smashed at Dubbo 💥

Tom Pollard set a new centre record yesterday, selling this standout pen of second cross Dorset lambs for $432.20/hd on behalf of Peter Braithwaite, Geurie NSW.

Congratulations Tommy and well done to Peter on an outstanding result!

#DeltaAg

[Geoff Wilson @GeoffWilsonWAM]

The taxing of unrealised gains legislation has revealed the @AustralianLabor politician who think he’s god or King Henry Vlll? Is he doing a Scomo? This legislation gives @JEChalmers powers that are “constitutionally disreputable”. This insane legislation must be stopped. @mcranston1

[Geoff Wilson @GeoffWilsonWAM]

Another twist in the unfair illogical taxing of unrealised gains by @AustralianLabor . Great reporting @mcranston1 @australian

[Geoff Wilson @GeoffWilsonWAM]

A fellow Australian explains how to cope with @AlboMP tax on unrealised gains “The best strategy is to cash in your super and buy a huge house, far larger than you need, for CGT free gains. Capitalise the interest. Enjoy retirement. Borrow against it for life expenses. Just more Labor poorly thought out policy. Not that Albo has to worry on his inflated pension at the cliff top in Copacabana” @WilsonAssetMgmt estimates $155 billion will go into housing because of @AustralianLabor’s tax on unrealised gains.

[Geoff Wilson @GeoffWilsonWAM]

The @ausgov want to tax millions of Australian on gains they may never make. This is not only unfair, unAustralian and bad policy. It will also have significant unintended consequences. Great journalism @mcranston1 from @australian
What do you think?

#Election2025

[Delta Agribusiness @deltaagribus]

The PA Solutions team is growing, and an opportunity exists for an innovative individual who is passionate about advancing the agriculture industry to join a highly successful and professional team as a Precision Ag Specialist in Northern NSW: https://t.co/VSDIJwuIu9

[PrecisionAgAus(SPAA) @SPAA_Inc]

Excited to hear from @deltaagribus at next week's PA Symposium in Dubbo, with @angus_hogan's topic 'Pragmatic PA – the on-farm benefits of a PA specialist'. Registrations for the PA Symposium close tomorrow. Secure your spot now https://t.co/LG192k6ycF

[Delta Agribusiness @deltaagribus]

Tremendous few days at the Australian Cotton Conference. With over 2,900 attendees through the doors, it was a very busy event for #TeamDelta. #CottonConference2024 #CottonAustralia

[Gerard Hines @deltaghines]

@JarrodAmery Great photos Jarrod👌🏻

[Delta Agribusiness WA @DeltaAgWA]

WE’RE LIVE 💻. The brand new website for Delta Agribusiness WA is now live! Go check it out now 📲 https://t.co/Qc1GVgAia2

[Gerard Hines @deltaghines]

⁦@deltaagribus⁩ ⁦@DeltaAgWA⁩ proud foundation sponsors of ⁦@Activefarmers⁩ https://t.co/ScRTup5w5E

[Gerard Hines @deltaghines]

Give yourself a chance to win this JD tractor and support the great work of ⁦@Activefarmers⁩ in our regional communities https://t.co/oPV5DUWnM2

[Gerard Hines @deltaghines]

Our grad programs are a foundation component of our talent and sustainability. https://t.co/fp2nuPj3tJ

[Gerard Hines @deltaghines]

https://t.co/SZGMHbT3fr

[Delta Agribusiness @deltaagribus]

Currently @Activefarmers service 65 communities across Australia, we want to make that 100 and we need your help. Make a difference to the lives of those living in rural Australia. https://t.co/Trt0Yyzkmr

MAY - MONTH OF GIVING