ECONOMICS


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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?'


Mum and dad investors cop economic tough love

8 Comments
03 August 2009 | Catherina Toh
An ethos of tough love balks at taxpayer subsidies for anyone foolish or unlucky enough to make the wrong investment decision. In Australia we prefer to see people as victims and expect the government to clean up the mess.


Toxic economies in history

8 Comments
29 May 2009 | Thomas Sullivan
Open Veins Of Latin AmericaIn the 16th century, following its conquest of Latin America, Spain drained the area of its gold and silver. One might suspect that this windfall turned Spain into an economic powerhouse. But some funny things happened when the easy money arrived.


Broadband deal better late than never

6 Comments
08 April 2009 | John Wicks
Fibre optique, Flickr image by TwistitiAustralia has spent the past decade in a consumer frenzy, while social infrastructure vital to our wellbeing has been neglected. The Government's belated $40 billion National Broadband Network will have many long-term benefits.


The crash of the can market

6 Comments
18 February 2009 | Julian Butler
Flickr image by Tristan GarrettSome of the soup van's clients collect cans to sell to a scrap dealer. The work supplements their welfare income and provides a sense of fulfillment. Since the global market crash business has been slow: 'China doesn't want aluminium now.'


The chuckling economist

3 Comments
05 January 2009 | Brownyn Lay

On the day the markets bled we rushed to hear Stiglitz's diagnosis. The Nobel Laureate used to be Chief Economist of the World Bank, ending his term in fisty cuffs with the IMF and the US over their financial bullying of developing nations. Stiglitz had schadenfreude written all over his face. (October 2008)


A frugal Christmas story

3 Comments
16 December 2008 | Margaret Rice
This time of year is marked by a fraught pre-Christmas anxiety, exacerbated this year by the economic crisis. My daughter Rachel lost her part-time job last week. Her loss is slight compared to her employer's, a young mother who works in the finance industry.


Workers' solution for fallen childcare empire

4 Comments
03 December 2008 | Cameron Durnsford
ABC Learning logoAfter the 2001 Argentine economic disaster, workers' collectives organised to autonomously run their enterprises. The collapse of the ABC Learning empire should not be seen as a total calamity, despite the obvious potential for fallout.


Imagination spent on global financial solutions

20 Comments
27 November 2008 | Colin Long

Capitalism: Buy Now, Pay Later, Flickr image by World Of OddyThe outcomes of the G20 meeting this month demonstrate the limited vision of many of the world's politicians in confronting the global financial crisis. If our leaders can't imagine a different future, it is up to us to do so.


Bankers conspire to cover their assets

3 Comments
22 October 2008 | Les Coleman

Circumstantial evidence suggests that during the past few weeks we have seen a massive manipulation of monetary policy to support US bank stocks. The manipulation has been played out in plain view, which, of course, is the best place to hide a secret.


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