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Keywords: Economics

  • AUSTRALIA

    Disruption of government business as a good

    • Andrew Hamilton
    • 27 November 2014
    15 Comments

    President Obama stole the G20 show with his mesmerising Queensland University address, after having dominated APEC with Xi Jinping and their climate change agreement. Such unrelated events challenge the belief that agendas can be centrally controlled, and that good governance is constituted by discipline and sole ownership of the agenda. More recently, the Senate has managed to call the shots and give priority to human good over ideology.

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  • ECONOMICS

    Why the rich are getting richer

    • David James
    • 19 November 2014
    6 Comments

    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. 

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  • INTERNATIONAL

    Thanks for nothing, Adam and Eve

    • Andrew Hamilton
    • 04 September 2014
    13 Comments

    James Boyce claims that contemporary attitudes to politics, human origins, economics and human psychology can be understood only if we recognise the hidden presuppositions imported from the theology of original sin. Theories on human nature such as those proposed by Adam Smith, Sigmund Freud, Richard Dawkins and the US Founding Fathers, tried to emancipate people from religious ideas, but often unwittingly enshrined them.

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  • MARGARET DOOLEY AWARD

    Inequality matters

    • Harry Maher
    • 20 August 2014
    14 Comments

    Inequality is dangerous. And inequality is at a near all-time high. At its core, the Government’s recent budget not only engenders but actively exults in the creation and maintenance of inequality, a phenomenon rapidly expanding not just in Australia, but around the world.

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  • AUSTRALIA

    Clive Palmer's world of surprises

    • Michael Mullins
    • 14 July 2014
    9 Comments

    Clive Palmer is thwarting some of the inequities in the Coalition’s Budget and legislative program. He appears to stand for policy that is confused and inconsistent, and possibly self-interested. But in joining hands with Al Gore he has shown himself capable of forging alliances with business and other entrepreneurs, for the common good of humanity. Fellow mining magnate Twiggy Forrest got together with Pope Francis to promote the abolition of slavery. Perhaps the Pope is on Clive’s list.

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  • ECONOMICS

    Commbank plunder part of new world economic order

    • David James
    • 07 July 2014
    7 Comments

    As the Pope and economist Thomas Pikkety have observed in recent times, the inequity created by capitalism is a growing concern. But the problem with this argument is that 'capitalism' is too broad a term. The attack would be far better directed against the financialisation of developed economies. A new type of sovereign has emerged, and like all rulers they are cheerfully engaging in acts of plunder.

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  • ECONOMICS

    Unwinding the Coalition's economic pantomime

    • 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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  • AUSTRALIA

    Economists undaunted by car industry canning

    • Ray Cassin
    • 12 February 2014
    18 Comments

    Malcolm Turnbull assures us that something will come along to fill the gap left by the demise in Australia of Toyota and SPC Ardmona. But new sources of employment do not magically appear because they have been foretold by economic doctrine. Only about a third of those who are about to lose their jobs in car making or food processing are likely to find new jobs on equivalent incomes. Another third will probably never work again.

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  • AUSTRALIA

    The Christmas story's whisper from the edges

    • John Falzon
    • 17 December 2013
    13 Comments

    Recently Pope Francis blasted the so-called trickle-down economic theories in his apostolic exhortation Evangelii Gaudium. Some will scorn his message as naive at best and dangerous at worst, while others will regard it as an urgent enkindling of hope in the face of degradation and despair. The Christmas story hints that another kind of world is possible.

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  • RELIGION

    Is the pope a Marxist?

    • Neil Ormerod
    • 17 December 2013
    27 Comments

    Pope Francis' vision for the church of the poor is now joined to a stinging critique of our globalised economy which promotes a 'new tyranny' of unfettered capitalism and an attack on the 'idolatry of money'. While such language has not been uncommon, buried in the riches of Catholic social teaching, this pope has made it up front and centre stage of his message.

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  • ECONOMICS

    Business voices competing for Tony Abbott's ear

    • Michael Mullins
    • 18 November 2013
    2 Comments

    Dr Maurice Newman is chairman of the Prime Minister's Business Advisory Council. It's his job to lobby for big business against, as it happens, the common good. But he is criticised even among some of his peers in the business world, particularly for his unwillingness to accept the need for a reduction in carbon emissions. Does Tony Abbott really listen to 'a range of voices' on business, as he claims?

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  • ECONOMICS

    Australia's Noah's Ark economy

    • 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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