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Keywords: Economics

  • ECONOMICS

    Supply to survive

    • Julian Butler
    • 31 March 2022
    1 Comment

    In 2020 as the Covid-19 pandemic raged globally, as Australia shut its borders and some states shut in their people, massive government income support was introduced. The government was a little slow coming to recognise the need for such measures. Once they had, they wanted the support rolled out as quickly as possible. Frydenberg, Scott Morrison and their colleagues recognised that a demand side boost was absolutely necessary to sustain economic activity. The government was uncomfortable, though, with this approach.  

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  • AUSTRALIA

    When love raises its head on the shop floor

    • Andrew Hamilton
    • 04 November 2021
    13 Comments

    In large organisations love hardly rates a mention. Mission statements highlight care, duty, responsibility and friendliness, but not love. Love is generally seen as an interrupter, combustible, something to fence in with protocols and professional standards, and for HR to monitor. When Pope Benedict XVI devoted an Encyclical to the place of love in public relationships, people were surprised. His argument is worth revisiting.

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  • ECONOMICS

    A strange financial circus

    • David James
    • 12 October 2021
    4 Comments

    Over the last two years, money printing has created the illusion of strength in savings. But when reality resurfaces, and actual returns are required from actual economic and business activity, the global financial system will come under extreme stress. 

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  • ECONOMICS

    The battle for the future of money

    • David James
    • 07 September 2021
    4 Comments

    There is a three-way battle looming over the future of money and the stakes could scarcely be higher. Conventional money, mainly debt created by banks — the ‘folding stuff’ is only a tiny proportion of the total — is in trouble. Total global debt is now so large relative to the world economy it cannot be serviced, which is why monetary authorities have resorted to dropping interest rates. When they almost hit zero, the next step was quantitative easing (QE): printing money by getting the central bank to buy back government and corporate bonds and putting them on its ‘balance sheet’. 

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  • ECONOMICS

    Labor’s embrace of Liberal tax policies leaves poor worse off

    • Chris Smith
    • 31 August 2021
    11 Comments

    In July, Anthony Albanese announced a significant change of stance on Labor tax policy which was disappointing, if not surprising. An elected Labor government, Albanese promised, would keep the coming high income tax cuts he previously opposed. This decision to not oppose the government proposal to restructure the income tax system through reduced marginal rates is supporting a government policy that will lead to a significant redistribution of wealth towards high income earners.

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  • ECONOMICS

    Why inflation isn't higher

    • David James
    • 12 August 2021
    4 Comments

    The biggest mystery of the financial markets is why, when the monetary authorities have been printing money with their ears pinned back, is inflation for the most part not a problem? What happens with inflation is crucial to the short-term survival of the whole system. Global debt, which is running at well over 300 per cent of global GDP, is only sustainable because interest rates are exceptionally low (the base rate in Australia is only 0.1 per cent). And interest rates are low because inflation is not a problem.

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  • ECONOMICS

    Overhauling economics to combat climate crisis

    • David James
    • 17 November 2020
    5 Comments

    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.

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  • ECONOMICS

    Until debt do us part

    • David James
    • 20 October 2020
    3 Comments

    The global economy was already teetering on the edge of such a debt crisis before the coronavirus hit. The economic shutdowns have accelerated the damage.

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  • CARTOON

    Going with the flow

    • Fiona Katauskas
    • 06 October 2020

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  • AUSTRALIA

    Putting a value on a human life

    • Andrew Hamilton
    • 01 October 2020
    7 Comments

    The response to COVID has invited reflection about the relative value of one human death (and so of one human life) as compared with another. This is a radical question because it makes us ask whether the value of a human life is defined by economic wellbeing and by potential contribution to the economy, or by deeper qualities.

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  • ECONOMICS

    October Budget rides on collective confidence

    • Joe Zabar
    • 24 September 2020
    3 Comments

    The havoc COVID-19 has wreaked on our economy has been less damaging than for some other countries. While international comparisons may help us feel better about our circumstances, the reality is that Australia’s economy is in trouble and will need more than economic first aid through measures like JobKeeper to get us back on track to recovery.

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  • ECONOMICS

    Class and COVID-19

    • David James
    • 17 September 2020
    5 Comments

    The issue of class, economic inequality, has for some time been conspicuously absent in contemporary political debate. In the wake of COVID-19, which will greatly exacerbate income and wealth disparities, such inattention must be addressed.

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