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One of the most basic distinctions in finance, with which any stockbroker or fund manager is familiar, is that between equity and debt. As the global economy teeters on the edge of a debt and banking crisis, with global debt more than 300 per cent of global GDP, the merits of equity is something that needs to be better understood.
The problem goes much deeper than a few crooked operatives and it will not be fixed by changing the corporate 'culture'. The fundamental evil is the arithmetic of compound interest. Interest on debt rises exponentially, while economic activity is linear. That means that sooner or later those in a weaker position are unable to pay.
As I sit in the Paris end of Collins street, I touch a poor woman's shoulder, and she looks up, her head wrapped in a veil, and I hand her some money. She clasps my hand, says thank you. Fingers count the rosary of coins. How will she know she is loved?
Australia’s income support system and employment services have shifted to an ever harsher regime of compliance and penalty, while failing to find work for hundreds of thousands of people.
So here is a question. Which are you? A customer, a shareholder, a worker, a citizen, or, well, a whole human being? If you answered 'customer' then congratulations, you are in line with contemporary economic orthodoxy, and boy, have we got a society for you. If you answered 'a human being' then that really is a problem, I'm afraid.
My year ten class studies Islam, one of the most formative influences in the world that my students will inhabit and hopefully improve. I have a profound respect for Islam. Westerners often fail to acknowledge the debt they owe to Islam, a tradition that had a huge role in bringing Europe through the Dark Ages and into the Renaissance.
A robust human rights framework would hold government to account in its own deployment of technology such as 'robodebt'. It would also provide protections against the government's increasing attempts to control data through legislation — where data is collected and deployed using diverse technologies.
That Trump is a narcissistic braggart was never in doubt. The more intriguing question was always how a businessman would behave once he became president. His administration sees business-style standover tactics as a thoroughly good option. The system-wide shifts that are resulting may have a lasting impact.
It has been a decade since the banking aristocracy Lehman Brothers filed for bankruptcy in what would be the chant of doom that became the Global Financial Crisis. Today, the legacy of Lehman Brothers and the crisis it helped precipitate supply warnings of the next shock.
Collars and ties, or lack of them, can have a specific political application. In 2007 Robert Mugabe, fearsome Zimbabwean dictator, was invited to an EU summit in Lisbon. The Anglican Archbishop of York, John Sentamu, cut up his clerical collar on television and vowed to replace it only after Mugabe had gone.
Perhaps we couldn't care less about what happens to an au pair or the person who let her in. But to know that there is rot in the ceiling — embodied in relationships of mutual benefit between those in office and those with money — and still be fine retiring to bed underneath, does not really bode well for anyone.
Murray and Frijters detail what they call Australia's 'grey corruption': the grubby nexus between 'James' (corrupt business people) and governments or regulators. The Jameses thrive at the expense of the 'Bruces': ordinary working people. The games of the corrupt elite now cost the 'Bruces' about half their wages.
121-132 out of 200 results.