Keywords: David James
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ECONOMICS
- David James
- 12 March 2014
10 Comments
Economics is full of circular arguments. The Government is on the one hand arguing — most notably with the SPC Ardmona case, the exit of the car manufacturers and Qantas — that it will not get involved in supporting Australia's industry base. But then it argues that its policies will boost Australia's industry base. Lower unemployment will inevitably follow. For the first time ever it is apparently possible to have it both ways.
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ECONOMICS
- David James
- 07 February 2014
15 Comments
'All animals are equal, but some animals are more equal than others'. This was George Orwell's parody in Animal Farm of the vicious use of language in communist states. It was one of his memorable depictions of how the absurdities of language not only reflect evil, but also predicate it. Language was a tool of oppression in communist states. In capitalism it is no less vicious.
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ECONOMICS
- David James
- 10 December 2013
15 Comments
It is hard not to smile over Woolworths' and Coles' 'voluntary' adoption of a code of conduct. Now that the duopoly has decided to mend its ways, it seems it can occupy the moral high ground and preach to everyone else. The Western world has been subject to a quarter of a century of propaganda about the virtues of deregulation. A closer consideration of the supermarket giants' promise to do the right thing offers little reason for confidence.
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ECONOMICS
- David James
- 05 November 2013
2 Comments
Australia is very much the 'Noah's Ark' economy: two of everything. Consider the spate of industry sectors in which only two companies dominate: airlines (Virgin and Qantas); paper and packaging (Visy and Amcor); print media (News Corporation and Fairfax). The Federal Government's announcement that it will be launching a 'root and branch' review of Australia's competition law will, at the very least, make for a fascinating spectacle.
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AUSTRALIA
- Frank Brennan
- 02 November 2013
7 Comments
'There have been innumerable post-mortems and words of advice as to how the party with new structures, election rules, and policies can pick itself up, dust off, and win the next election. Sadly some of those post-mortems have come with more coatings of spite and loathing. It is no part of my role in the public square as a Catholic priest to offer such advice.' Frank Brennan's address to the Bathurst Panthers Club, 2 November 2013.
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ECONOMICS
- David James
- 04 October 2013
1 Comment
America is fond of claiming exceptionalism, which is usually little more than an indication of its attitude to moral accountability. But in one area America definitely is exceptional: the global currency markets. There is no risk of the market for American dollars drying up, which means that a default by the American government is, while significant, not especially relevant to what happens with the global trade in US dollars.
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ECONOMICS
- David James
- 06 September 2013
4 Comments
Two of the most important issues to have been given scant attention in the election campaign are ageing and property. Even less noticed is the inter-relationship between the two. The effect of ageing on property prices will be arguably the most important financial challenge facing Australian governments over the coming decades.
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ECONOMICS
- David James
- 27 August 2013
3 Comments
Australia is one of only a few countries in the world that has a franking credit system. Though it is designed to stop 'double taxation' on company tax, in many cases it ends up being a 'double reward' for entities that already have tax favoured status. Last year the Tax Commissioner generously refunded over $500 million to charities and not-for-profits on dividends because they pay no tax.
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INTERNATIONAL
- Evan Ellis
- 27 August 2013
5 Comments
In some ways the intense focus on chemical weapons and red lines is diversionary. Enough blood has been spilt to paint a thousand red lines. 100,000+ people have been killed already. Is it somehow easier on the International Community’s conscience to think of families being ripped apart by artillery shells than dying from chemical warfare?
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AUSTRALIA
- Brian Matthews
- 14 August 2013
11 Comments
When James Hird, coach of the Essendon Football Club, says his club has a 'right' to play finals despite the ongoing drug scandal, he obviously means that the players have won enough games to qualify. But when you wed his use of the word 'right' to his often proclaimed love for the club and his aspiration to put it back where it 'belonged', 'right' starts to assume the force of due privilege.
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ECONOMICS
- David James
- 13 August 2013
3 Comments
As the China boom fades Australia is experiencing a delayed version of the GFC, without the banking crisis. Until now we've been reasonably well served by both sides of politics, in terms of macro-economic strategy. Now we require a way of dealing with more mundane economic issues like productivity and efficiency. Neither side has many good ideas about how to achieve the required structural shifts.
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ECONOMICS
A currency's value is supposed to represent the state of the country's underlying economy. Yet very little changed about the Australian economy during a week in which the value of the dollar was substantially altered. It is a small instance of how rapidly change occurs in currency markets, sometimes to devastating effect, and another reason why the capital markets are ruling rather than serving.
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