Eureka Street

Keywords: Economist

AUSTRALIA

Petrol price plunge won’t arrest car decline
- Greg Foyster
- 06 February 2015
3 Comments
After years of writing pain-at-the-pump puns, journalists are giddy at the prospect of prices heading south for once. The low price is a boon for motorists and regional tourism operators. But it won't change the face that we've hit 'peak car' and are driving less. Young people now prize access over ownership.
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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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AUSTRALIA

Who wants to be a capitalist?
- Moira Rayner
- 31 October 2014
11 Comments
Affordable housing ought to be a hot election issue. Sadly it’s not a government priority, with ordinary people being taught to be entitled to look to capital growth in bricks and mortar as the best path to financial security. That is producing a housing price bubble and public housing is being squeezed. As a result, an increasing number of Australians can’t afford to put a roof over their head.
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ECONOMICS

Australia's delayed GFC
- David James
- 08 September 2014
7 Comments
What is only now starting to come into focus is the extent to which the whole economy is in hock to house prices. A sharp fall in the housing market will put intense pressure on our major lending institutions, leading to a deeply depressing effect on all parts of the economy. The regulators, as ever, are taking a hands-off approach.
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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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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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AUSTRALIA

Budget more slow-burn than big bang
- Jackie Brady
- 14 May 2014
3 Comments
The Budget does not signal an end to the 'age of entitlement', as there are still plenty of beneficiaries of government expenditure or foregone revenue. You don't need to be an economist to see that collectively the Budget measures will impact negatively on the income levels of the poor and disadvantaged. The discussion now must be who will pick up the pieces left behind by Government in developing a system with obvious gaps.
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ECONOMICS

Whose liberty matters as Dickensian budget looms?
- Fatima Measham
- 07 May 2014
16 Comments
French economist Thomas Piketty argues that current conditions have set us on track for a return to 19th century-levels of inequality. The Commission of Audit proposals suggest that the auditors and the Government are keen to expedite this neo-Dickensian era. It's all done in the name of 'incentives' toward 'personal responsibility', but this cannot remain coherent in the face of those who will be hit hard by the proposed suite of cuts and co-payments.
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INTERNATIONAL

New Zealand rocks but the poor are rolled
- Cecily McNeill
- 17 February 2014
4 Comments
With the Australian economy in disarray, the Abbott Government is showing keen interest in New Zealand's projected unusually high growth. But NZ's status as a rock star economy is in question from commentators who say it has never recovered from major policy shifts 30 years ago. In particular its sexy image on the global business stage does not translate to a better life for those on low incomes, particularly women and children.
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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

Tolerating corruption will destroy Australia's brand
- Michael Mullins
- 07 October 2013
6 Comments
Australia tied with Denmark, Finland and Japan for the title of the world's least bribe-ridden country in 2013. Our cultural resistance to corruption has long been a major contributor to Australia's reputation as a good global citizen, not to mention economic prosperity. Pope Francis said last week that we all have our own idea of good and evil, and each of us fighting against evil as we conceive it makes the world a better place.
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AUSTRALIA

Australia's political goldfish bowl from the outside
- Ray Cassin
- 09 September 2013
20 Comments
The Economist's leader writer and other international international observers including Joseph Stiglitz judged that, by most objective measures, Labor's achievements should be preferred to the Coalition's offerings. The big picture went unacknowledged in Australia's dismal, dispiriting election campaign.
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Keywords: Economist