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The Labor government’s plans for managing overseas student numbers seem to be heavily influenced by the belief that these students are at least partly responsible for hikes in rents, housing shortages, and pressure on infrastructure.
There is a great deal of commentary about the growing importance of artificial intelligence, or AI, especially in business circles. To some extent this is a self-fulfilling prophecy — if people think something will have a seminal effect then it probably will. But if the supposed commercial benefits are significant, the dangers are potentially enormous.
The Glasgow United Nations Climate Change Conference has been advertised as an effort to focus on sustainable environmental solutions. What got much less attention, if any, is that it is probably at least as much about having a sustainable financial system. Many noted that China, did not send its leader: Xi Jinping, president of the world’s greatest CO2 emitter. There was also another significant absence: the financiers who are hoping to profit from the trillions allocated into climate change projects.
There is a common error about economics that, if not corrected, has far reaching consequences. It is the widely held belief that economic growth and consumption are the same. They are not.
In Australia, we have long boasted of our unparalleled prosperity and strong economic growth. We have championed home ownership and the quarter acre block — after all our home is meant to be our castle. But for too many, the basic human right of having a place to call home remains out of reach.
Adam Smith wrote 'no society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable'. Poverty and inequality lead to non-participation in work and inhibit social mobility, which negatively affects economic growth. The concentration of economic power is bad for democracy.
Political insiders are those forces that use economic clout, political connections, extensive networks and reliable access to decision-makers to influence political outcomes. Outsiders, by definition, lack these characteristics. The Catholic lobby now doubts its own strength and influence. The education sector is a good example.
Cometh the hour, cometh the third murderer. So now inequality is in the spotlight and is being booed off the stage. It is blamed for the rise of populist politics, and more fundamentally for economic stagnation. The economic neo-liberal orthodoxy, that so implausibly claimed that economic competition unfettered by government regulation would benefit all of the citizens, has produced the gross inequality that hinders economic growth.
The strident public debate about global warming and the threat it poses has died down. Few knowledgeable people deny its reality. At the same time, powerful interest groups and politicians appeal to the need for economic growth in order to weaken any international commitment. At such a time it is worth returning to Laudato Si, Pope Francis' passionate exhortation to care for the environment. Its most significant insight is that the environment is not something outside ourselves. We are part of it.
The best writers on sport show that it is a metaphor for life. Perhaps that is why the triumph of the Western Bulldogs in the AFL Grand Final has been so ruthlessly milked for larger significance. But I would like to exploit it once more for the way in which it illustrates the weakness of a liberal politics that assumes that all will benefit from the economic growth that unfettered competition between individuals yields. The joy of the Western Bulldogs victory lay in its challenge to these assumptions.
The neoliberal right is losing political power to the populist right, which isn't filled with the same ideological zeal for free-market capitalism. Suddenly debates can expand beyond the narrow confines of economic growth. Moral and social arguments won't be relegated to the intellectual fringes anymore. Mainstream parties of the left and right, both of which bought into the neoliberal agenda, will have to break their bipartisan dismissal of discontent with the side effects of globalisation.
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