ECONOMICS


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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.


Wall Street Blues

6 Comments
20 October 2008 | Jim McDermott
Drift of autumn leaves alongside cracked sidewalkAs I walk the streets of Manhattan, things seem much the same as always. Yet newspapers are peppered with references to the market 'cratering', a term that conjures the desolate landscape of the moon. A friend suggested another interpretation: 'A crater is what's left after a massive explosion.'


The chuckling economist

16 Comments
13 October 2008 | Bronwyn 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.


It's time to ditch GDP

9 Comments
23 September 2008 | John Wicks
Australian currencyThe 'trickle down' of wealth proclaimed by neo-liberalism is debatable, and hardships flowing from sub-prime activities descend on the disadvantaged with the finesse of a freight train. Some economists have demanded the GDP measure be replaced by goods and services data that promote the common good.


When sharemarkets and the real world collide

19 September 2008 | Robin Bowerman
GraphThe problems besetting Wall Street investment banks seem a long way from life in downtown Australia. The need to know the context of the economic crisis, and to keep a clear head, has never been more important.


APEC good for business, not so good for humanity

5 Comments
05 September 2007 | Anne Lanyon
APEC good for business, not so good for societyThe APEC theme 'Strengthening our community: Building a sustainable future' is an honourable one. But look further, and you’ll get a glimpse of the priority the Australian Government has for things economic, and an acknowledgement of the role of business in shaping the agenda.


How to measure governments' economic performance

1 Comment
22 August 2007 | Les Coleman
How to measure governments' economic performanceBoth Government and Opposition seem committed to economic reform. But the fact that the Howard Government's fiscal policy is currently being steered by a drunken sailor is cause for alarm, as is Kevin Rudd's lack of experience and seeming inability to come up with his own economic policies.


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