The power of hope

The mobilisation of small and mid-tier companies in the mining industry's campaign against the Resources Super Profits Tax

Datos Bibliográficos

ID6234479
AutoresMichael Gilding (0000-0001-6966-3011, Swinburne University of Technology, autor de correspondencia), Elizabeth Merlot (Swinburne University of Technology), Shirley Leitch (0000-0001-9073-7003, Australian National University)
Año2016
Volumen51
Número1
Páginas122-133
Fecha de publicación2016-01-02
Peer ReviewedSí
Open AccessNo
TipoARTICLE
RevistaAustralian Journal of Political Science (JOURNAL)
Identificadores de la revistaISSN: 1036-1146 • E-ISSN: 1363-030X
EditorialInforma UK Limited (PUBLISHER • GB)
DOI10.1080/10361146.2015.1126043
OpenAlexW2334724077
IdiomaEN
Citas recibidas4
Referencias citadas16

This article examines the mobilisation of small and mid-tier companies in the mining industry's campaign against the Resources Super Profits Tax (RSPT), drawing on interviews with 18 industry players. The government anticipated that small exploration and development companies would support the RSPT, on account of its promise to contribute towards the costs of exploration and development. In doing so, it was guided by Treasury advice and the assumption of calculative rationality on the part of small companies. Instead, industry leaders forged a common front against the tax within days of its announcement. In doing so, they appealed to the hope of extraordinary returns – or what is sometimes described as ‘sentiment’, ‘animal spirits’ and ‘irrational exuberance’ – among mining entrepreneurs and investors, against the odds. Other researchers have argued that the debate around the RSPT highlights the ‘power of ideas’, but we argue that it highlights the ‘power of hope

Business · Economics · Government (linguistics · Market economy · Odds · Political science · Power (physics · Rationality · Treasury · Global Energy and Sustainability Research · Law · Mining and Resource Management · Natural Resources and Economic Development