Search Results: banking

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  • RELIGION

    Accountability a virtue in churches and banks

    • John Warhurst
    • 21 May 2018
    26 Comments

    General apologies don't go far enough. Compensation is necessary, but also not enough. The reputation of the church would now be higher if there were more obvious signals of accountability by those in charge. The offer of resignation made as a group to Pope Francis by the entire Chilean hierarchy is a breath of fresh air.

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  • ECONOMICS

    Japan could lead the way in forgiving debt

    • David James
    • 13 May 2018
    4 Comments

    As the world economy groans under soaring levels of debt, the place to look is Japan, whose current government debt-to-GDP ratio is an eye watering 253 per cent. It is Japan, which led the developed world into this mess, that is likely to lead the world out of it by cancelling debt. The consequences of such a move would be far reaching.

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  • RELIGION

    Subverting idolatry in churches and banks

    • Andrew Hamilton
    • 01 May 2018
    31 Comments

    The banking royal commission has already come to resemble the earlier child abuse royal commission. To observers who share a personal and public-spirited interest in the decent functioning of institutions, the similarities invite reflection on why two apparently different forms of institution should behave in such similar ways.

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  • AUSTRALIA

    Turnbull's unfinished business for 2018

    • John Warhurst
    • 01 February 2018
    7 Comments

    There are opportunities for both sides of politics, government and opposition, in the leftovers from 2017. The balance looked to have shifted somewhat back towards the government in the final weeks of last year. The task of Malcolm Turnbull will be to begin the new year as he ended the last.

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  • AUSTRALIA

    Turnbull friendly fire is mostly undeserved

    • John Warhurst
    • 04 December 2017
    8 Comments

    As Barnaby Joyce, standing beside the Prime Minister last Saturday night after his by-election win, proclaimed: 'Running a country is a little harder than running sheep through a gate.' Similarly, Turnbull must find running a party, much less a Coalition of parties, like herding cats.

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  • ECONOMICS

    World trade is now America versus China (and Russia)

    • David James
    • 22 August 2017
    4 Comments

    The anti-Russian frenzy in the United States amounts to little more than a great deal of evidence that the intelligence community suspects there might be a great deal of evidence that the Russians have been meddling. It has to rank as one of the biggest, and most orchestrated, blind alleys of modern media coverage. When a journalist says an anonymous ‘respected source’ thinks the Russians are up to something, this writer is always left wondering: respected by whom? His dog?

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  • ECONOMICS

    Where is money headed?

    • David James
    • 29 July 2017
    2 Comments

    The daily fluctuations of financial markets and the fractious debates over economic policy are concealing something deeper and much more disturbing. The future of money itself is in question. A decade after world banking almost collapsed in the global financial crisis, the questions raised have not been answered.

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  • MEDIA

    Encryption and liberties on the 'ungovernable' internet

    • Binoy Kampmark
    • 13 July 2017
    6 Comments

    Turnbull's attitude echoes the fear all autocracies have: that control is slipping away, and that citizens cannot be trusted to behave in a modern communications environment without government intrusions. Arguments are repeatedly made that such enlarged powers are never abused - a charmingly naive assumption - and that law enforcement authorities merely need the 'capacity' to have them. These can either abate, or be extended, after a review. The reality tends to be different.

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  • ECONOMICS

    Bitcoin revolution is a matter of trust

    • David James
    • 29 June 2017
    2 Comments

    One of the more interesting recent developments in finance has been the creation of Bitcoin and other crypto-currencies. They are being touted as a revolution in how we think and use money. Alternately, there are many who want to go in the opposite direction, back to the gold standard. Both sides have a common enemy: money whose value is determined by government dictate. Allowing governments to dictate in this way, they argue, is the core of the problem. To a significant extent, they are wrong.

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  • ECONOMICS

    Trump's pro-globalisation critics miss the key questions

    • David James
    • 06 February 2017
    10 Comments

    Many defenders of globalisation express frustration at the rise of Trump and what they see as an ignorant and self-defeating backlash against its virtues. But they have no answer to the most pressing question: Is the global system there to serve people, or are people there to serve the global system? They also never address a central contradiction of globalisation: that capital is free to move, but for the most part people are not, unless they belong to the elite ranks.

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  • ECONOMICS

    It will take more than a royal commission to tame the banks

    • David James
    • 09 October 2016
    2 Comments

    The strategy of the Big Four banks' appearance in parliament was clear enough. Blame the whole thing on a need to improve impersonal 'processes', imply that there have been a few bad apples but overall things are fine, and promise to do better in the future. The greatest challenge was probably to hide the smirks. A royal commission is being held up as an alternative, and no doubt it would be more effective. But a royal commission would not address the main issue.

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  • AUSTRALIA

    Identity politics and the market

    • Andrew Hamilton
    • 04 October 2016
    5 Comments

    In political commentary liberal politics and identity politics are often presented as polar opposites. For supporters of liberal politics the relationship between the two is one between virtue and vice, rationality and emotion, the wise against the mob. I believe that the relationship is more complex, that identity politics shares the same stunted assumptions about personal and national identity as liberal politics, sees the self-interest of the latter, and wants to despoil it.

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