ECONOMICS


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Best of 2012: The upside down world of global capital

1 Comment
08 January 2013 | David James

GFCMoney is not like water, that 'flows' around the world, reaching 'equilibrium', or experiencing 'volatility'. It is transactions between people, based on trust. It enables the cooperation that forms the basis of social life. Human beings should be at the centre. Yet that is the opposite of what is happening. Monday 27 August 


Gloomy forecast for Aboriginal super

6 Comments
11 December 2012 | David James

Dark-skinned hands holding piggy bankSuperannuation is not generally available before the age of 55. For most of the population of Australia this is scarcely a problem, as they are likely to live well into their 80s. But the average life span of Aboriginal Australians is much lower. Many will not live long enough to derive financial advantage from their super.


Debunking the global financial con job

12 Comments
11 November 2012 | David James

Hand hurling diceEven after the most dangerous financial crises ever seen, finance industry lobbyists still argue that the sector should not be too heavily regulated as that would be counterproductive. This is nonsense. Money is rules. It is a question of who sets the rules and what kind of rules they should should be.


Ways out of economic depression

8 Comments
17 October 2012 | Bruce Duncan

End This Depression Now! by Paul Klugman (book cover)Tony Abbott warned that Australia could go the way of Greece with excessive debt. Such claims reflect a climate of exaggerated concern about debt. Instead Australia could be taking advantage of historically low interest rates and embarking on major infrastructure projects, increasing employment and laying the basis for sustained growth in productivity.


Australia's pension fund perversion

7 Comments
02 October 2012 | David James

Golden nest eggThe demise of Gunns, Tasmania's biggest paper and pulp mill, has been greeted as a triumph of environmentalists over business. The saga encompasses much more than that. It poses some deep questions about ownership and accountability in Australia's financial system which are yet to be answered persuasively.


The upside down world of global capital

5 Comments
26 August 2012 | David James

GFCMoney is not like water, that 'flows' around the world, reaching 'equilibrium', or experiencing 'volatility'. It is transactions between people, based on trust. It enables the cooperation that forms the basis of social life. Human beings should be at the centre. Yet that is the opposite of what is happening.


Economics as if people mattered

8 Comments
07 November 2011 | Chris Middleton

'We are the 99%' Occupy Wall Street bannerWhatever the merits of Occupy Wall Street, it is far too early to speak of any substantial challenge to the dominance of capitalism. Yet there is a real taste for exploring alternatives. The most influential of faith-based approaches to economic theory is that of distributism.


Social inclusion in ailing Ireland

7 Comments
02 December 2010 | Gerry O'Hanlon

Irish BankA hopeful sign has been the emergence of commentators, mainly secular, advocating the transformation of the economy to a model based on values like the common good, solidarity, environmental concern, equality, active and inclusive citizenship.


Brake failure on the economic freeway

26 October 2009 | Neil Ormerod
Even if we understand the intelligiblity of an automobile, we can still drive badly. With the GFC, the argument is not that better theories will ensure everyone behaves properly, but that without a proper economic theory even people of good will cannot work to achieve the good.


Why ignorance, not greed, caused the GFC

2 Comments
20 October 2009 | Neil Ormerod
Karl MarxSixty years ago, Jesuit Bernard Lonergan developed an analysis of the boom and bust cycles of economy. He often asked, 'Where were the Christian counter-parts of Karl Marx, sitting in the British Museum voraciously reading and relentlessly studying about political economy?'


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