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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.
20 October 2008 |
As 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.'
13 October 2008 |
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.
23 September 2008 |
The '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.
19 September 2008 |
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.
05 September 2007 |
The 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.
22 August 2007 |
Both 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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