Welcome to Eureka Street

back to site
Forgot your password?
Subscribe

Keywords: Economist

  • AUSTRALIA

    Innovating for a jobless society

    • Rick Measham
    • 07 November 2016
    28 Comments

    Growing up in Geelong, many friends worked at Ford, or Alcoa, Pilkington or any of the other allied suppliers. As each of these stopped manufacturing in Victoria's second city, employers and governments promised retraining. But where are the jobs? Factories are quickly moving to a 'lights out' operation, with no lights, no air conditioning — and no humans. Modelling suggests nearly 5000 Geelong residents will lose their jobs to the decline in manufacturing before the end of 2017, and 200,000 nationwide. Can we find new-economy jobs for every one of them?

    READ MORE
  • ECONOMICS

    It will take more than a royal commission to tame the banks

    • David James
    • 10 October 2016
    2 Comments

    The strategy of the Big Four banks' appearance in parliament was clear enough. Blame the whole thing on a need to improve impersonal 'processes', imply that there have been a few bad apples but overall things are fine, and promise to do better in the future. The greatest challenge was probably to hide the smirks. A royal commission is being held up as an alternative, and no doubt it would be more effective. But a royal commission would not address the main issue.

    READ MORE
  • INTERNATIONAL

    The merits of Trump's economic agenda

    • David James
    • 09 August 2016
    15 Comments

    The main legislative catalyst for the GFC was the repeal, in 1999 by Bill Clinton, of the Glass Steagall Act, which had prohibited commercial banks from engaging in the investment business. This allowed the investment banks to indulge in the debauch of financial invention that almost destroyed the world's monetary system. Trump has made the reinstatement of Glass Steagall official policy. Should that happen, it could be the most beneficial development in the global financial system for decades.

    READ MORE
  • INTERNATIONAL

    Corruption and calamity in Rio's Games of exclusion

    • Antonio Castillo
    • 08 August 2016
    4 Comments

    The Rio 2016 Olympics has earned a well-deserved label: the jogos da excludad, the games of exclusion. It is a label that shames a ruling class that got its priorities wrong. In the name of the Games, 77,000 residents of Rio's favelas have been evicted and hundreds of these settlements have been bulldozed. Those favelas that avoided the bulldozers have been hidden behind concrete walls that epitomise what theologian Leonardo Boff has called the 'lack of shame' living deep in the Brazilian soul.

    READ MORE
  • INTERNATIONAL

    A righteous sermon about the haves and have-nots

    • Gillian Bouras
    • 23 May 2016
    11 Comments

    In America, Rex Tillerson, CEO of Exxon, received a salary of more than $40 million in 2012. He is apparently a devout Christian, so I wonder whether he ever worries about Matthew chapter 19, verse 24: it is easier for a camel to go through the eye of a needle than it is for a rich man to enter into the Kingdom of God. The 400 richest Americans own more wealth than the GDP of India. In contrast, vast numbers of their fellow citizens have less than $1000 in their savings and cheque accounts combined.

    READ MORE
  • RELIGION

    Pope Francis' social activism has long roots

    • Bruce Duncan
    • 16 May 2016
    38 Comments

    Pope Francis is determined to highlight the opposition of Christian social thinking to the tenets of neoliberalism or market fundamentalism, an ideology which assumes that free markets of themselves will produce the best outcome, and which pushes aside considerations of social or distributive justice. It is unlikely Francis would be waving the flag of social justice so boldly on the world stage had Pope Leo XIII not written his famous social manifesto, Rerum Novarum, 125 years ago.

    READ MORE
  • ECONOMICS

    Serfs sucked dry in the kingdom of banks

    • David James
    • 18 April 2016
    11 Comments

    Three finance-related events are currently gaining great attention in the media. One is the so-called Panama Papers. Another is the proposal to have a royal commission into the banks. And a third is the furore over the unaffordability of homes and the debate over negative gearing. On the surface they would seem to be quite separate issues. But all three issues demonstrate yet again that banks are, if not the most malign organisations on the planet, then certainly among the most dangerous.

    READ MORE
  • ENVIRONMENT

    Bob Ellis and the other nuclear royal commission

    • Michele Madigan
    • 08 April 2016
    16 Comments

    The passing of Bob Ellis recalls his faithful accompanying of the 1984-1985 royal commission into the British nuclear tests conducted in South Australia in the 1950s and 1960s. His article on the Wallatina hearings described what he named as the commission's 'worst story of all': Edie Milpudie's telling of herself and her family camping, in May 1957, on the Marcoo bomb crater. Re-reading the Ellis article, tears stung my eyes. It's so good when truth is recognised and held up for our freedom.

    READ MORE
  • AUSTRALIA

    Down to The Wire: How SIBs can save social programs

    • Gabriela D'Souza
    • 02 March 2016
    5 Comments

    Social impact bonds are a type of impact investing: investing for results. A community service provider who wants to pilot or scale up an existing program can use SIBs to finance their projects. A bond issuer makes the SIBs available to private investors, who will receive the principal with interest if the program attains a predetermined success rate. While modified versions of this model are being trialled in NSW, the heartbreaking fourth season of HBO's The Wire sheds light on how they might work.

    READ MORE
  • INTERNATIONAL

    Why Australia is missing the revolution

    • J. R. Hennessy
    • 19 February 2016
    24 Comments

    The aftershocks of the late-century push for liberalisation and the GFC have bred generations of dislocated voters who seek answers outside of the limited solutions of centrist governance. This provides ample opportunity for true progressive change, as seen in Europe and Latin America, and now the US and UK. Where's Australia? Nowhere to be seen. It is hard to imagine a truly progressive candidate emerging from our ossified political structures. There are a few reasons for this.

    READ MORE
  • AUSTRALIA

    Millennials have allies in the emerging grey vote

    • Fatima Measham
    • 18 February 2016
    5 Comments

    The formative experiences of Australian early boomers include unprecedented access to university education and health care, immersion in feminist discourse, Aboriginal land rights campaigns, environmental activism, LGBT movements and pacifism. Quite remarkably, it mirrors some of the elements that engage millennials. While in some ways anti-boomer sentiment seems well placed, what it misses is that on social issues a 21-year-old might have more in common with a 61-year-old than a 71-year-old.

    READ MORE
  • ARTS AND CULTURE

    Called or shunned by Vietnam war conscription

    • B. N. Oakman
    • 10 November 2015
    7 Comments

    I'd never met a Vietnamese, couldn't figure what we had against them. But we were raised in shadow of returned men, the shimmer of lapelled bronze, a presumption we in our turn would go when ordered ... Most of us dodged gap years of sweat and khaki, missing madness, maiming, napalm, agent orange, learning how to kill and to piss ourselves out of fear. Instead we were granted head starts with women, front marks in the greasy pole dash, a less congested clamber to unremarkable lives.

    READ MORE