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20 October 2009 |
Sixty 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?'
03 August 2009 |
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.
29 May 2009 |
In 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.
08 April 2009 |
Australia 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.
18 February 2009 |
Some 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.'
05 January 2009 |
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)
16 December 2008 |
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.
03 December 2008 |
After 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.
27 November 2008 |
The 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.
22 October 2008 |
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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