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Martin Luther was absolutely correct and right philosophically when he nailed his Ninety-Five Theses to a chapel door in Wittenberg. The Catholic Church was rife with greed and corruption and scandal and lies and theft and devious financial plots, as it still is, and probably always has been. But I maintain that Luther was utterly wrong and incorrect in his choice of tools.
Governments are tempted to use budgetary accountability as a neat cover for corporatisation of public utilities. As public broadcasters, the ABC and SBS do not inhabit the same philosophical territory as Sky News or Channel 7. The ABC's cuts are based on an efficiency report prepared by a financial officer from the commercial media. It does not seem relevant that balanced budgets do not deliver educated audiences.
Investing capital in the production of goods and services may create jobs, but it's not the best way to make money. It's more profitable to manipulate the financial system to create more money from money, which is why the finance sector does so well. The polarisation of wealth is less extreme in Australia, but we have our own capital-driven Ponzi scheme - the residential property market, which has become an exercise in making money out of money.
There has been an avalanche of divestment, including from the Rockefellers and the ANU, as they discern a lack of concern for environmental, social and governance issues. Shareholders attending Wednesday’s Commonwealth Bank AGM will hear a resolution requesting more transparency about the bank’s fossil fuel investments. But the bank’s response can seem like a game whose rules only become clear to its participants as they play it. Banks and other powerful organisations can still exploit any lack of clarity.
The media has reported that Swedish furniture company IKEA's Australian arm has earned an estimated $1 billion in profits since 2003, almost all of which has been exported tax-free. Action to crack down on tax avoidance is on the agenda of next week's G20 in Brisbane, but it remains to be seen if the interests of developing countries will be looked after.
There has been a rush to purchase shares in Medibank Private since the Federal Government's sale offer opened last Tuesday. Past sales of government owned corporations such as Telstra have produced windfall profits for cashed up Australians able to invest. But what about the rights of the policy holders who were told they were members with ownership of equity in the company?
View this week's offering from Eureka Street's award winning political cartoonist.
Unfortunately, when people pin their hopes for a just and fair society to a corporation, they can be sadly disappointed. A spate of deaths around the country suggests that many corporations have plenty of power to influence governments to produce policies and legislation convenient for their operations, but fail to take responsibility for their bad outcomes, which include deaths in workplaces.
Considering my indebtedness to the two Aborigines who met [my family's ship arriving in Hervey Bay from Ireland] 151 years ago, I owe it to all my fellow Australians to agitate these issues of law, morality and politics here in Ireland so that back in Australia, the homeland which, in my religious tradition, was known as the Great South Land of the Holy Spirit.
The Coalition glorifies business entrepreneurship, which is promoted as a good that trumps social inclusion. It is paradoxical that there is more appetite for social entrepreneurship in the USA, which is known as the land of the self made man. The explanation is that investing in social capital ultimately makes good business sense.
My response to government reports is often like that of a small boy watching a magician. You know that a rabbit will be produced out of the hat, but you can’t quite work out how it will be done. For a Government set on cutting costs the McClure report into Australia's welfare system will be easy to cherry pick by further depriving the already deprived. The risk is that it will not pull a white rabbit out of the hat, but a ferret.
Many Australians, myself included, believed that the Federal Budget was unfair. So Treasurer Joe Hockey's recent speech in defence of its fairness offers a welcome challenge. Hockey is right to insist that fairness can co-exist with gradations of wealth within society. But fairness is incompatible with gross disparity of wealth because the concentration of wealth in the hands of few people and corporations destroys equality of opportunity.
181-192 out of 200 results.